DUOS – a digital health company that is focused on empowering older adults to live independently – recently announced that it raised $10 million in funding led by Primetime Partners, SJF Ventures, and CEOC’s Aging Innovation Fund managed by Castellan Group. This funding round supports DUOS’ rapid customer growth. And combined with DUOS’ $15 million Series A round in April 2022, brings the company’s total funding raised to date to more than $33 million.
DUOS generates shared values for health plans, providers, and employers by making operations more efficient and increasing utilization of existing benefit structures. And DUOS’ platform helps staff reduce the time it takes to find a member’s coverage options while AI-powered digital experiences capture and prioritize the most important aging needs for a member to increase the average number of needs resolved. And together, DUOS’ products increase engagement with and adoption of Medicare Advantage benefits, leading to improvements in overall member satisfaction, retention, and completion of critical care initiatives like Annual Wellness Visits.
Since launching in 2020, DUOS has expanded its original human-powered service model for solving aging needs to provide a full suite of technology and engagement products for health plans, providers, and employers. Utilizing over 100,000 different MA plan benefits and more than $30 billion in unclaimed public benefits, the DUOS System of Aging identifies the right plan benefit, community resource, or government program, at the right time, thereby driving increased member satisfaction in older adults, reducing stress and burden on caregivers, and addressing critical care gaps for health plans.
More than half of all adults aged 65 and older have at least one unmet aging need. And DUOS identifies these needs, prioritizes them in collaboration with the older adult or caregiver, and connects the need with an existing benefit or resource. And 95% of the thousands of aging needs identified by DUOS have been solved with closed loop referrals, and DUOS has delivered an 80%+ care gap closure rate on Annual Wellness Visits and in HEDIS gaps with chronically ill, non-compliant MA members.
Resolving barriers to healthy living for older adults drives satisfaction: DUOS’ rolling 30-day NPS is 82 (compared to a health plan high water mark of 43), and 88% of DUOS members report a willingness to stick with their current health insurance plan because of their access to DUOS (16% of MA enrollees switch plans after 1 year of enrollment).
DUOS is available in all 50 states, depending on health plan coverage.
KEY QUOTES:
“DUOS operates at the critical juncture of a growing aging population, increased pressures on unpaid caregivers, and a rapidly evolving Medicare Advantage landscape. They have proven metrics demonstrating that effectively engaging older adults and their caregivers and connecting them with underutilized health plan benefits not only improves quality of life for individuals but also drives better outcomes for plans. We’ve watched the DUOS team since their launch and their track record of member engagement and impact is best in class.”
— Abby Miller Levy, Managing Partner and co-founder of Primetime Partners
“The unique combination of data aggregation, technology, and engagement services makes the DUOS approach particularly effective at delivering increased value for health plans, risk-bearing providers, and employer groups grappling with the growing aging crisis in America today. Our support comes at a critical growth moment for both DUOS and the broader aging U.S. population with unmet medical and social determinants of health (SDoH) needs.”
— Perry Clarkson from SJF Ventures
“Our north star remains and has always been, to solve the needs of aging adults. The investments in technology and tooling that we’ll make with this additional funding are all in the interest of supercharging those efforts: more needs identified and resolved, more individuals feeling both supported and independent. The fact that staying laser-focused on our mission also yields meaningful value for our health plan and employer partners makes the work even more compelling.”
— Karl Ulfers, co-founder and CEO of DUOS
