- New Program Enables Employers to Provide Access to Pharma-Assisted Weight Loss at a Cost of $299 per Month, 70% or More Below the Industry Average
- Workplace Weight Loss & Wellness Program Delivered Digitally Through Industry Leader Telegenixx
SAN ANTONIO, Oct. 04, 2023 (GLOBE NEWSWIRE) — Telegenixx today launched a first of its kind pharma-assisted workplace weight loss program. The new wellness program enables employers to provide their employees with access to increasingly popular medication supported weight loss programs, including peptide therapies, at an affordable price. With costs starting at $299 per month, inclusive of laboratory tests, clinical services, and medications, this program offers over 70% savings compared to existing out of pocket costs to employers. Telegenixx, a leader in pharma-assisted, medically supervised weight loss programs delivered digitally, introduced the program so employers can meet the needs of employees who are asking for costly weight loss medications.
With nearly half of Americans wanting access to medication for weight loss and many looking to employers to pay for it, Telegenixx’s new program is welcome news for employers.
“Employer costs for workforce obesity increased more than 30% over the last decade and workers who have obesity or are overweight have annual health costs of more than double compared to those without such diagnoses. Thus, with physical and financial health in mind, nearly half of Americans are interested in a prescription-based weight loss program,” said Erin Keyes, the CEO and co-founder of Telegenixx. “With our patients typically achieving meaningful weight loss goals within seven months, the Workplace Weight Loss & Wellness program – at $299 per month – is a more affordable, effective, and safe way for employers to provide their employees with access to weight loss medications that generate results, as desired. Results which may significantly decrease employer and employee healthcare spend. In addition to weight loss, our program also has numerous other benefits, including reduction in incidence of high blood pressure and Type 2 diabetes.”
Telegenixx’s early success at generating health outcomes, such as weight loss, has been remarkable:
- 750% increase in new patients since the start of 2023;
- Average 15-25% weight loss for subscribers completing the Telegenixx program, typically after seven months (45% of Telegenixx’s incoming patients are clinically obese while 55% are mildly to severely overweight); and,
- > 95% renewal rate among subscribers, far above the industry average of 60-77%.
Right now only one in five employers (22%) covers prescription drugs for weight loss. While weight loss medications such as Ozempic and Wegovy average $1000 to $1300 per month without insurance coverage, the Telegenixx program’s baseline cost of only $299 a month is welcome news for employers who want to make semaglutide medications available, but also want the option of doing so at a reasonable price. The program’s launch is especially timely as employers prepare next year’s healthcare benefits plans.
The Workplace Weight Loss & Wellness program offers employers several alternatives to meet every need:
- Employers can cover the Telegenixx program’s entire $299 per-employee monthly cost;
- Alternatively, they can underwrite a portion of the cost;
- Telegenixx also can make arrangements with employers including bulk discounts, shared costs with insurance payors, discounts for employees whose Body Mass Index levels are 30 or higher (the threshold for obesity) and other customizations that lead to further savings.
The launch of the Telegenixx program comes with four in 10 Americans suffering from obesity – a number expected to increase to about half of Americans by the end of the decade – and a quarter of employers saying that obesity has the biggest effect on their healthcare costs. As a result, the potential benefits of pharma-assisted weight loss programs can be substantial. A study of men aged 45 or older who were overweight or obese with established cardiovascular disease found that semaglutide, a peptide-based treatment, reduced major adverse cardiovascular events by 20% over a period of up to five years.
Despite the potential benefits, the rapid growth of such medications has strained employer and insurer budgets. Semaglutide experienced 90.1% growth in expenditures from 2020 to 2021, ranking it fourth overall for total costs among prescription drugs, according to a recent study. As a result, both employers and insurers are pushing back. Major employers, such as the University of Texas System, have ended or restricted coverage of certain weight loss medications, citing rapidly increasing expenses.
As a result, employers are thinking about how to handle coverage of the drugs, a decision made more difficult by competing priorities of trying to hold down rising health care costs for themselves while also retaining and wooing talent. Covering desirable drugs for weight loss could help them with attracting and retaining workers. A survey found that 44% of workers would take a new job for coverage of weight loss medication and half (51%) would stay at a job to maintain coverage. Martha Gulati, MD, director of Preventive Cardiology in the Smidt Heart Institute at Cedars-Sinai said in an interview by Nature, that despite promising results and physician eagerness to recommend the medication, providers have been hesitant to prescribe semaglutide to avoid giving hope to patients, only for them to be turned down by their insurance. If semaglutide becomes more widely accessible, it “will be a game-changer for the clinical practice of preventive cardiology,” stated Gulati.
Telegenixx provides patients with peptides specifically made for them by vetted and contracted U.S.-based compounding pharmacies. The resulting precision of dosing allows the clinicians to mitigate or eliminate common dose-related side effects. They work with medications that mimic the actions of the GLP-1 hormone naturally produced in the digestive system. GLP-1 receptor agonists may improve insulin production in the pancreas, slow the emptying of the stomach and inhibit the amount of glucagon produced in the liver. The combined effect supports weight loss and improves metabolic health by reducing appetite, increasing insulin secretion, and improving insulin sensitivity for blood sugar stabilization. These mechanisms of action have the potential to improve both longevity and health span.
“With more than four in 10 adults suffering from obesity and six in 10 trying to lose weight, obesity is linked to a myriad of health challenges,” said Maya Bodinger, Chief Growth Officer of Telegenixx. “The Telegenixx program’s exceptional effectiveness and competitive pricing make it the optimal choice for businesses looking to elevate employee well-being. It’s smart business and it’s a proactive strategy for cultivating a healthier and more productive workforce.”
About Telegenixx
Telegenixx is a first-of-its-kind, digital pharma-assisted weight loss platform that facilitates specific peptide medication protocols to suit each patient’s goals, needs, and biology. Telegenixx, which went to market in October 2022, unites doctors and pharmacists with novel compliance tools to support the peptide therapy process. With a baseline monthly cost of $299, Telegenixx is considered to be the safe and affordable alternative for individuals seeking increasingly popular peptide treatments to lose weight. On average, Telegenixx patients have lost 15-25% of their body weight after being on the care plan for seven to twelve months. In addition, the company maintains an over 90% retention rate among its wider patient population which include separate or complimentary care plans that serve other health and lifestyle goals, for example: injury repair and anti-aging. All Telegenixx care programs are designed by an Advisory Board composed of highly respected physicians, researchers, and pharmacists.
Physicians on the Telegenixx platform are licensed to serve patients in all 50 states and Washington DC. Furthermore, Telegenixx quality assurance systems comply with and exceed FDA standards in relation to quality, potency, and purity testing of every batch of medication dispensed. Moreover, utilizing FDA approved ingredients and suppliers, Telegenixx pharmacy partners comply with all FDA recommendations that “Patients should only obtain drugs containing semaglutide with a prescription from a licensed health care provider, and only obtain medicines from state-licensed pharmacies or outsourcing facilities registered with FDA.”
Telegenixx, Inc.
Maya Bodinger
(646) 924 – 7117
maya@telegenixx.com
