What You Should Know:
- DUOS, a digital health company focused on empowering older adults to live independently, announced today an additional $10M in funding led by Primetime Partners, SJF Ventures, and CEOC’s Aging Innovation Fund managed by Castellan Group.
- Founded in 2020, DUOS focuses on older adults’ aging needs and maximizes their well-being by connecting them with untapped health plan benefits and building high-trust relationships.
- The DUOS’ System of Aging technology connects caregivers, health plans and healthcare providers to maximize benefits engagement and ensure holistic, personalized support.
Human-Powered Service Model for Solving Aging Needs
DUOS generates shared value for health plans, providers, and employers by making operations more efficient and increasing utilization of existing benefit structures. 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. 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 its launch 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. Tapping into 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.
Results/Outcomes
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).
This latest investment supports DUOS’ rapid customer growth and, combined with DUOS’ $15M Series A round in April 2022, brings the company’s total funding raised to date to more than $33M.
“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,” said Karl Ulfers, co-founder and CEO of DUOS. “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.”
DUOS is available in all fifty states, depending on health plan coverage.