DUOS, a digital health company focused on empowering older adults to live independently, has secured an additional $10M in funding led by Primetime Partners, SJF Ventures, and CEOC’s Aging Innovation Fund managed by Castellan Group. This new funds will support the expansion of DUOS technology platform and engagement services. Combined with its previous Series A round (closed in April 2022), DUOS has raised over $33M to date.
DUOS’ platform helps health plans, providers, and employers increase efficiency and utilization of existing benefit structures. By reducing the time it takes to find coverage options and prioritizing aging needs, DUOS improves member satisfaction, retention, and completion of critical care initiatives.
Since its launch in 2020, DUOS has evolved from a human-powered service model to offering a comprehensive suite of technology and engagement products. Using its vast database, DUOS identifies the right plan benefit, community resource, or government program, addressing unmet aging needs and critical care gaps. The company has a 95% success rate in solving aging needs and has achieved significant care gap closure rates.
“Our north star remains, and has always been, to solve the needs of aging adults. The investments in technology and tooling that we’ll make with this additional funding are all in the interest of supercharging those efforts: more needs identified and resolved, more individuals feeling both supported and independent,” said Karl Ulfers, co-founder and CEO of DUOS. “The fact that staying laser focused on our mission also yields meaningful value for our health plan and employer partners makes the work even more compelling.”
Abby Miller Levy, Managing Partner and co-founder of Primetime Partners, shares: “DUOS operates at the critical juncture of a growing aging population, increased pressures on unpaid caregivers, and a rapidly evolving Medicare Advantage landscape. They have proven metrics demonstrating that effectively engaging older adults and their caregivers and connecting them with underutilized health plan benefits not only improves quality of life for individuals but also drives better outcomes for plans. We’ve watched the DUOS team since their launch and their track record of member engagement and impact is best in class.”
Perry Clarkson from SJF Ventures adds: “The unique combination of data aggregation, technology and engagement services makes the DUOS approach particularly effective at delivering increased value for health plans, risk-bearing providers, and employer groups grappling with the growing aging crisis in America today. Our support comes at a critical growth moment for both DUOS and the broader aging U.S. population with unmet medical and social determinants of health (SDoH) needs.”
Research suggests that more than half of all adults over 65 have at least one unmet aging need. DUOS identifies these needs, prioritizes them in collaboration with the older adult or caregiver, and connects the need with an existing benefit or resource. 95% of the thousands of aging needs identified by DUOS have been solved with closed loop referrals, and DUOS has delivered an 80%+ care gap closure rate on Annual Wellness Visits and in HEDIS gaps with chronically ill, non-compliant MA members.
DUOS’ success in delivering value for health plans and employer partners has resulted in high member satisfaction and retention rates. Its services are available nationwide.