SCAN Group Makes Strategic Investment in Arine
Date Posted: 10/19/2021
Healthcare non-profit says Arine’s AI-driven approach to optimizing medication use is key to improving health outcomes
LONG BEACH, Calif., OCT 19, 2021—SCAN Group, whose holdings include SCAN Health Plan, one of the nation’s largest not-for-profit Medicare Advantage plans, has made a strategic investment in Arine, a tech-driven leader improving medication management and adherence. Arine's software platform analyzes social, clinical and behavioral data and develops personalized recommendations that enable clinicians to tailor care for patients and their care teams.
According to Arine, one in five older adults is taking potentially inappropriate medications and more than one-third of senior emergency room visits are due to medication mismanagement.
“SCAN is proud to be investing in Arine, a company that shares our belief that appropriate prescribing and adherence are key to improving health outcomes among older adults,” said Dr. Sachin Jain, president and CEO of SCAN Group and SCAN Health Plan. “By helping to ensure that seniors are on the right doses of the right medications and are taking them properly, Arine is making strides in the effort to keep seniors healthy and independent.”
“Arine is thrilled to have SCAN, a premier Medicare Advantage plan, as a client and an investor. By working with patients, caregivers, pharmacists and physicians to help ensure patients are being prescribed appropriate medications—and taking them—Arine helps health plans get the best possible outcomes for patients, including older adults with complex care needs who take multiple medications,” said Yoona Kim, Arine’s CEO and co-founder. “Arine has shown that health plans that utilize our platform can achieve the highest quality ratings on adherence and other medication-related measures.”
SCAN is no stranger to Arine’s platform and capabilities. Determined to reduce healthcare inequities among older adults, SCAN is currently working with Arine to improve medication adherence rates among its Black and Latinx members. Under the SCAN/Arine program, the two organizations use Arine’s predictive analytics technologies to guide proactive, linguistically and culturally appropriate interventions.
“We’re excited about what we’ve seen in our first joint program,” said Binoy Bhansali, corporate vice president of Corporate Development for SCAN Group. “Arine’s AI-driven virtual pharmacist platform helps ensure older adults are on the right medications, understand what they are for, and are taking them correctly, which aligns with SCAN’s strategy to invest in companies that improve care for seniors. ”
SCAN Group’s investment in Arine is the latest in a series that the organization is making as part of its larger diversification strategy, developed to foster the growth of companies that align with its mission to support healthier aging.
Earlier this year, SCAN made a strategic investment in MedArrive, a healthcare logistics and services platform that enables payers and providers to extend care services into the home. SCAN also made an investment in Monogram Health, a leading kidney care management company that provides in-home solutions for patients living with chronic kidney and end-stage renal disease.
About SCAN Group
SCAN Group is a mission-driven organization that is tackling some of the biggest issues in health care for older adults. The core of SCAN Group is SCAN Health Plan, one of the nation’s foremost not-for-profit Medicare Advantage plans, serving more than 220,000 members in California. Independence at Home, a SCAN community service, provides vitally needed services and support to seniors and their caregivers regardless of plan membership. SCAN Group also invests in new companies to support healthier aging, offers education programs, community funding, volunteer opportunities, and other community services in support of its mission—keeping seniors healthy and independent. To learn more, visit scanhealthplan.com or follow us on Twitter @scanhealthplan.
Arine optimizes medication therapy and treatment plans – saving 1 in every 6 healthcare dollars spent. The company's platform aggregates and analyzes clinical, social and behavioral data to identify gaps in patient care and uses artificial intelligence to address and resolve them on behalf of payors and risk-bearing providers. Since the Company’s commercial launch in 2019, Arine’s platform has been used to optimize treatment plans, monitor medication performance, and improve outcomes for patients on multiple medications for healthcare organizations covering over 20 million lives across 20 states. For more information, visit https://www.arine.io/.