Southborough health tech company launches automated Medicare Advantage plan
Photo | Courtesy of nirvanaHealth
Ravi Ika, founder and CEO of nirvanaHealth, which was formerly known as RxAdvance
Pharmacy benefit manager platform provider nirvanaHealth announced Monday it will launch a Medicare Advantage program which will be available on Amazon Web Services, according to a press release from the Southborough company.
Dubbed Aria Medicare, the program is primarily managed by robotic process automation modules, meaning it is largely automated. It is designed to manage sales and administrative costs at under 8% of the total premium collected, per the release.
The Southborough company was formerly known as RxAdvance.
Amazon Web Services, Inc. is a subsidiary of Amazon that provides cloud services and programming to individuals and companies.
According to its announcement, nirvanaHealth chose to launch its Medicare program to address the increasing Medicare-eligible population. There are roughly 127,000 more Massachusetts residents enrolled in Medicare Advantage than there were ten years ago, according to the Kaiser Family Foundation.
Medicare Advantage plans are administered by private health insurers and account for about 42% of the Medicare population in the U.S., according to the release.
UMass Memorial of Worcester came out with its own Medicare Advantage program in early September which is available to Worcester County residents.
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