Imagine a healthcare solution that not only motivates patients to take charge of their health but also tackles the toughest challenges faced by our most vulnerable communities.

In this episode of Straight Out of Health IT, Matthew Swanson, co-founder and CEO of Reciprocity Health, Incorporated, shares insights into how his company is transforming healthcare by combining behavioral health economics and digital tools. Founded in 2020, Reciprocity Health focuses on improving patient activation in Medicaid and Medicare, particularly among vulnerable populations. Their flagship platform, TheraPay, uses financial incentives integrated with digital tools to enhance patient adherence to medical programs. This innovative approach addresses systemic barriers to care, drawing on Swanson's prior experience in education and systemic reform.

Reciprocity Health’s managed service model was inspired by a CMS study highlighting the effectiveness of financial incentives in chronic care but also the challenges in implementation. The platform simplifies complex administrative processes and assigns rewards to each step of a patient's care journey, such as completing screenings or surveys. By partnering with trusted community organizations, Reciprocity extends its reach into underserved populations, fostering trust and deeper engagement. This model has empowered families to earn meaningful financial rewards while improving their healthcare adherence and outcomes.

The company operates as a for-profit enterprise, sustained through client-funded programs with ROI analyses that demonstrate the cost savings of preventive care. At HLTH 2024, Reciprocity Health sought partnerships with health systems, payers, and care providers to accelerate the adoption of value-based care initiatives. Matt emphasizes that Reciprocity acts as a "rising tide," benefiting all stakeholders by reducing costs, improving care delivery, and putting money in patients’ pockets. By aligning interests across the healthcare ecosystem, Reciprocity Health is driving meaningful and sustainable change.

Tune in for an inspiring conversation with Matthew Swanson to discover how his innovative approach to financial incentives and behavioral health is transforming lives and redefining patient engagement in Medicaid and Medicare!