When digital musculoskeletal company Hinge Health was founded about a decade ago, it targeted primarily employers.
But in recent years it has expanded its health program partnership, now a self-sufficient life, is the preferred musculoskeletal partner for the five largest national health programs in the U.S., after an announcement of a new partnership with Cigna Healthcare last week. It also works with UnitedHealthcare, Aetna, National Anthem and Healthcare Services, as well as smaller regional programs.
Cigna’s self-insured customers now have the option to provide their employees with a hinge health platform. Through the platform, patients can use physical therapists, health coaches, real-time guidance and wearable pain relief devices virtually. Hinge's support can be used in conjunction with Cigna's Pathwell bone and joint solution, a solution that helps employees suffer from spinal, hip, knee or shoulder pain and provides access to providers and clinical care advocates.
Additionally, Cigna Healthcare customers will have easier signing, faster boarding speeds and simplified billing, and have Hinge Health.
“We think it’s not only about reducing friction from members, but also reducing friction from buyers, in this case the employer. … If you’re a Cigna customer, you can call your Cigna account manager and say, ‘We want to open Hinge Health.’ Hinge Health President Jim Pursley said in a recent interview at the Nashville Health Conference, “Without a lot of other additional sign-ups, data privacy and security efforts and all of that, you can open and launch Hinge Health through Cigna. ”
Pursley added that the company is often paid for a participation-based pricing model, hinged bills in each interaction.
Hinge Health also extends to other business areas, including the Medicare Advantage program, the federal employee program, and veterans affairs. It also attempts to expand globally, according to Pursley.
“Most of our employers are headquartered in the U.S. but have a global workforce and are interested in trying to provide a fair gain globally,” he said.
The partnership with Cigna comes after the wave triggered by Hinge Health announced its March filing for an initial public offering (IPO), the first digital health company to have been in some time. Many in the industry are watching closely to see how the company's fares in the public sector have caused market volatility and past IPO struggles, such as Accolade and Teladoc.
But healthcare experts told Medcity News that they are cautiously optimistic about IPOs given Hinge Health’s high margins and are addressing large markets. According to health organizations, MSK is the second largest cost driver behind cancer employers. It is worth noting that Hinge is not the only other digital healthcare companies that deal with MSK, including Sword Health and Vori Health.
Hinge Health declined to comment on the IPO.
Looking ahead, Hinge Health is focused on investing in its new products, including its women's pelvic health program and its menopause program, Pursley said. The company also recently announced a partnership with Amazon and menopause company MIDI Health.
Photo: Mikdam, Getty Images
