NEWS PROVIDED BY Newtopia
Inc. Dec 10, 2020, 08:30 ET
Santa Barbara Actuaries Inc. estimates that Newtopia's
platform can generate first year medical cost savings of up to $1,700 per
Medicare Advantage plan participating member
TORONTO, ON, Dec.
10, 2020 /PRNewswire/ - Newtopia Inc. (TSXV: NEWU), a habit change
platform for disease prevention, today announced results of a study that
demonstrates its programs can provide significant medical cost savings when
applied to Medicare Advantage (MA) populations, according to a report authored by Santa Barbara Actuaries Inc. and
commissioned by Newtopia.
Newtopia's
CDC accredited hyper-personalized approach combines the best of human
intervention and digital technology to improve health and prevent, reverse, and
slow the progression of chronic disease.
"Using
an actuarial process, we are able to estimate that Newtopia's habit change
platform could save up to $1,700 per MA member," said Ian
Duncan, PhD, FSA, President of Santa Barbara Actuaries. "We developed a
high-level economic model that estimates the potential savings from the
Newtopia program when applies to a given MA population with Metabolic Syndrome
(MetS) prevalence. The results of the report show promise of significant savings for the MA
population."
Santa
Barbara Actuaries further stipulates that, where members remain engaged with
Newtopia for 12-months, the potential one-year savings to a plan with 100,000
members is an estimated $10.8 million. Analysis of existing Newtopia data
for participants aged 65 years or more shows an expected one-year average body
weight reduction of 5.5%. This compares favorably to the 4.3% average weight
loss seen in younger Newtopia program participants, as previously reported in a
published randomized controlled trial in the Journal of Environmental and Occupational Medicine.
"Our
published, randomized controlled trial with Aetna and our current
commercial outcomes prove that our programs make a meaningful impact on
employer populations by improving overall health and cost savings,"
said Jeff Ruby, founder and CEO, Newtopia. "With this model developed
by Santa Barbara Actuaries, we can confidently say that our behavior change
platform has a high likelihood of improving the health of populations over 65
and generating corresponding cost savings for MA payers."
In addition,
Newtopia understands there are immediate benefits with cost of care reduction
for other Medicare risk-bearing entities such as Accountable Care Organizations
or other provider organizations, who can also leverage our lifestyle
intervention for in-year savings. Providers who are accountable for a
population's total cost of care are likely to realize similar cost savings
results as Medicare Advantage plans.
Newtopia
will be conducting deeper analytics on medical loss ratio and other relevant
Medicare metrics to further understand the cost reduction and revenue impact
potential for risk-bearing entities.
About
Newtopia
Newtopia is
a tech-enabled disease prevention company focused on healthy habit change.
Newtopia prevents, reverses, and slows the progression of chronic disease while
enriching mental health, resilience, and overall human performance. The
platform leverages genetic, social, and behavioral insights to create
individualized prevention programs with a focus on type 2 diabetes, heart
disease, stroke, and weight. With a person-centered approach that combines
virtual care, digital tools, connected devices and actionable data science,
Newtopia delivers sustainable clinical and financial outcomes. Newtopia serves
some of the largest nationwide employers and health plans. To learn more, visit
newtopia.com.
About
Santa Barbara Actuaries Inc.
Santa
Barbara Actuaries is an actuarial consulting firm that assists clients in
developing economic models to demonstrate the financial efficacy of healthcare
devices and intervention programs. www.sbactuaries.com
Forward
Looking Information
This news
release contains forward-looking information and forward-looking statements,
within the meaning of applicable Canadian securities legislation, and forward
looking statements, within the meaning of applicable United States securities
legislation (collectively, "forward-looking statements"), which
reflects management's expectations regarding Newtopia's future growth, results
from operations (including, without limitation, future production and capital
expenditures), performance (both operational and financial) and business
prospects and opportunities. Wherever possible, words such as
"predicts", "projects", "targets", "plans",
"expects", "does not expect", "budget",
"scheduled", "estimates", "forecasts",
"anticipate" or "does not anticipate", "believe",
"intend" and similar expressions or statements that certain actions,
events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved, or the
negative or grammatical variation thereof or other variations thereof, or
comparable terminology have been used to identify forward-looking statements.
All statements other than statements of historical fact may be forward-looking
information. Such statements reflect Newtopia's current views and intentions
with respect to future events, based on information available to Newtopia, and
are subject to certain risks, uncertainties and assumptions. Material factors
or assumptions were applied in providing forward-looking information. While
forward-looking statements are based on data, assumptions and analyses that
Newtopia believes are reasonable under the circumstances, whether actual
results, performance or developments will meet Newtopia's expectations and
predictions depends on a number of risks and uncertainties that could cause the
actual results, performance and financial condition of Newtopia to differ
materially from its expectations. These forward-looking statements
include, among other things, the estimated cost savings to plan payers
associated with the use of Newtopia's platform by plan members, the potential
cost of care reduction for other Medicare risk-bearing entities, the continued
engagement with Newtopia's platform by plan members, clients continuing to
offer Newtopia's platform pursuant to agreements entered into, statements
relating to Newtopia's business plans and outlook. Forward-looking statements
are not a guarantee and are based on a number of estimates and assumptions
management believes to be relevant and reasonable, whether actual results,
performance or developments will meet Newtopia's expectations and predictions
depends on a number of risks and uncertainties that could cause the actual
results, performance and financial condition of Newtopia to differ materially
from its expectations.. Certain of the "risk factors" that could
cause actual results to differ materially from Newtopia's forward-looking
statements in this press release include, without limitation: the termination
of contracts by clients, risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities to try to
limit the pandemic, including travel restrictions, border closures,
non-essential business closures, quarantines, self-isolations,
shelters-in-place and social distancing, disruptions to markets, economic
activity, financing, supply chains and sales channels, and a deterioration of
general economic conditions including a possible national or global recession;
and other general economic, market and business conditions and factors,
including the risk factors discussed or referred to in Newtopia's disclosure
documents, filed with the securities regulatory authorities in certain
provinces of Canada and available at www.sedar.com including Newtopia's final long form
prospectus dated March 30, 2020.
For more
information on these risks please see the "Risk Factors" in
Newtopia's final long-form prospectus dated March 30, 2020. Should any
factor affect Newtopia's in an unexpected manner, or should assumptions
underlying the forward- looking information prove incorrect, the actual results
or events may differ materially from the results or events predicted. Any such
forward-looking information is expressly qualified in its entirety by this
cautionary statement. Moreover, Newtopia does not assume responsibility for the
accuracy or completeness of such forward-looking information. The
forward-looking information included in this press release is made as of the
date of this press release, and Newtopia undertakes no obligation to publicly
update or revise any forward-looking information, other than as required by
applicable law.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE
Newtopia Inc.
Related
Links www.newtopia.com
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