Wellth’s key differentiator from all other adherence-focused vendors is that it applies the most appropriate strategies from behavioral economics, choice architecture, and habit science at every patient touchpoint, to maximize engagement and behavior change. For instance, Wellth successfully increased enrollment rates by endowing members with a financial rewards balance upon enrollment; this is explained by a behavioral economics concept known as the ‘endowment effect’. Furthermore, one of the optimal incentive designs within the Wellth program is to require members to consistently demonstrate adherence each day to avoid deductions from their endowed balance; this concept is defined as ‘loss aversion’ and has been proven to be highly effective in incentivizing behavior compared to gain or lottery incentives in certain situations.
Wellth has also carefully designed daily medication check-ins to ensure an enjoyable process for the patient that takes less than 2 seconds. Compare this to other solutions which require patients to show themselves swallowing each pill individually, in a time-intensive, unenjoyable interaction that provides no reward for doing so.
