DUOS, a digital health company dedicated to empowering older adults to live independently, has raised an additional $10 million in funding. The funding round was led by Primetime Partners, SJF Ventures, and CEOC’s Aging Innovation Fund managed by Castellan Group. This investment follows DUOS’ $15 million Series A round in April 2022 and brings the total funding raised by the company to over $33 million.
DUOS focuses on creating shared value for health plans, providers, and employers by increasing the efficiency of operations and utilization of existing benefit structures. Its platform helps staff members reduce the time required to find a member’s coverage options, while AI-powered digital experiences prioritize and address the most important aging needs of each member. By enhancing engagement and adoption of Medicare Advantage benefits, DUOS aims to improve overall member satisfaction, retention, and completion of critical care initiatives such as Annual Wellness Visits.
The funding will support DUOS’ rapid customer growth and enable the company to continue expanding its platform. DUOS offers a full suite of technology and engagement products for health plans, providers, and employers, leveraging over 100,000 different Medicare Advantage plan benefits and more than $30 billion in unclaimed public benefits. Its system identifies the right plan benefit, community resource, or government program to address the specific needs of older adults, thereby driving increased member satisfaction, reducing caregiver burden, and bridging critical care gaps for health plans.
DUOS has achieved outstanding results since its launch in 2020. Over 95% of the aging needs identified by DUOS have been successfully resolved through closed-loop referrals, and the company has achieved an 80%+ care gap closure rate for Annual Wellness Visits and in HEDIS gaps among chronically ill, non-compliant Medicare Advantage members.
The additional funding will allow DUOS to invest in technology and tools to further accelerate its mission of addressing the needs of aging adults. The company aims to identify and resolve more aging needs, enabling individuals to feel supported while maintaining their independence. The focus on solving the needs of aging adults also brings value to health plan and employer partners, making DUOS’ work even more compelling.
DUOS operates in all fifty states, depending on health plan coverage. The company’s dedication to resolving barriers to healthy living for older adults has resulted in high member satisfaction, with a rolling 30-day Net Promoter Score (NPS) of 82, compared to a high-water mark of 43 for health plans. Additionally, 88% of DUOS members express a willingness to stay with their current health insurance plan due to their access to DUOS, contributing to improved plan retention rates.
