Business owners Roundtable Accelerator-backed Nayya is on a mission to simplify handling and choosing staff member advantages through machine learning and data openness. The company has raised$2.7 million in seed funding led by Social Leverage with involvement from Guardian Strategic Ventures, Cameron Ventures, Soma Capital, in addition to
other tactical angels. The process of picking an employer-provided healthcare strategy and understanding that strategy can be tedious at finest and incredibly confusing at worst. Which doesn’t even include all of the supplemental strategies and benefits associated with these programs.
That’s where Nayya is available in. When registration starts, employers send out an email that includes a link to Nayya’s Companion, the company’s flagship product.
Buddy helps workers find the strategy that is best for them. The software initially asks a series of concerns about way of life, place, etc. For example, Nayya creator and CEO Sina Chehrazi described that individuals who bike to work, rather than driving in an automobile, walking or taking public transport, are 20 times most likely to enter a mishap and require emergency services.
Buddy asks questions in this vein, in addition to questions around whether you take medication frequently or if you expect your health care expenses to go up or down over the next year, without entering the specifics of chronic ailments or diseases or particular concerns.
Taking that information into account, Nayya then takes a look at the different strategies provided by the company to show you which one matches the user’s specific lifestyle and spending plan best.
Nayya does not simply pull info directly from the insurance company directory site listings, as almost 40 percent of those listings have at least one mistake or run out date. It pulls from a broad variety of data sources, including the Centers for Medicare and Medicaid Services (CMS) to get the cleanest, most accurate data around which doctors are in network and the usual expenses associated with visiting those doctors.
Along with Companion, Nayya likewise offers an item called ‘Edison,’ which it has actually dubbed the Alexa for Helathcare. Users can ask Edison questions like “What is my deductible?” or “Is Dr. So-and-So in my network and what would it cost to go see her?”
The business assists specific users find the best service provider for them with the capability to compare expenses, place, and other aspects included. Nayya even puts a badge on listings for service providers where another staff member at the company has gone and had a fantastic experience, offering another layer of validation to that choice.
As the healthtech market looks to supply easier-to-use health care and insurance, the idea of ‘personalization’ has actually been left behind in many respects. Nayya focuses primarily on the end-user and intends to ensure that their own personal health care journey is as easy and uncomplicated as possible, thinking that the other pieces of the puzzle will fall into place when the consumer is taken care of.
Nayya intend on utilizing the financing to expand the team throughout engineering, information science, product management and marketing, along with doubling down on the amount of data the company is buying, consuming and cleaning up.
Together with charging companies on a per seat, per month basis, Nayya is also wanting to start going straight to insurer with its product.
“The greatest challenge is educating a whole community and convincing that ecosystem to think that where the consumer wins, everybody wins,” said Chehrazi. “How to fund and understand your health care has never been more vital than it is right now, and there is a huge need to offer that education in an information driven way to people. That’s where I wish to spend the next I don’t understand how many years of my life to drive that change.”
Nayya has five full-time employees presently and 80 percent of the group originates from racially varied backgrounds.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.