Picking a health plan can be the biggest crapshoot of anyone’s year. It’s confusing and tedious to compare the plan benefits, the provider directories are unreliable, and even if you can figure it out, there’s no way to know how much you’ll pay for a given service from one plan to the next. So, we cross our fingers, pick the one that seems like a fit, and hope for the best. Today’s guest is trying to change all of that. Akash Magoon is Co-founder and CTO at Nayya – a company that offers personalized enrollment guidance across all employee benefits. Today we talk about how Nayya uses claims and consumer data to help consumers pick the best health plan for their situation. Their goal is to “restack the odds for American families”. That’s something we can all get behind.

As a bonus to the startups out there, we talk about Nayya’s rapid growth over the past year. Pre-pandemic it was just Akash and his co-founder, Sina. Now a seed and series A round later, they have expanded to more than 30 employees and have customers in nearly every state. We talk about the key factors that enabled them to find their product-market-fit and show value to their customers.

On this episode you’ll learn:

  • How claims and consumer data can be used to help consumers make better decisions about health plans.
  • Why employers and health plans are interested in providing this service to their employees and members.
  • Why it’s important to engage consumers throughout the year to help them get the most out of their plans for the least amount of money.
  • How the CMS Patient Data Access Rule creates new opportunities to empower healthcare consumers.
  • How to get feedback early and often when launching a new product, and other advice for finding your product-market-fit.

About Nayya

At Nayya, we believe there is a better way to choose and use healthcare benefits. A more transparent, less confusing way where consumers feel more confident in their decisions. We focus on decision support and benefits engagement. It’s one of the most stressful and challenging situations consumers face – and we see that as an opportunity to do good. We’re excited to deliver a new experience to consumers – where they choose and use their benefits through our software, data and AI engine.

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The #HCBiz Show! is produced by Glide Health IT, LLC in partnership with Netspective Media.

Music by StudioEtar