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Why AbleTo's Business Model is so successful?

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AbleTo’s Company Overview


AbleTo, Inc. is a leading provider of virtual behavioral health care. The company has been breaking down barriers to high-quality mental health care since 2008, providing personalized treatment plans for individuals dealing with issues like anxiety, depression, and stress. AbleTo's unique approach combines the use of a data-driven process to identify and engage those in need, a national network of licensed therapists and behavioral coaches, and a proprietary platform to deliver care over the course of an eight-week program. The company's mission is to provide individuals with the tools and skills they need to overcome life's challenges and live happier, healthier lives. Business Model: AbleTo operates on a business-to-business (B2B) model, primarily partnering with health plans and employer groups to provide their members and employees with access to their services. The company uses predictive analytics to identify individuals who may benefit from its programs, then engages these individuals with personalized care designed to meet their specific needs. AbleTo's model is designed to improve access to mental health care by providing services virtually, which removes many of the barriers to treatment such as cost, availability, and stigma. Revenue Model: AbleTo's revenue model is based on a combination of subscription fees from health plans and employer groups, and service fees for individual therapy and coaching sessions. The company negotiates contracts with health plans and employers, who then offer AbleTo's services as a part of their benefits package. This means that the cost for individuals is often covered by their insurance or employer. Additionally, AbleTo may receive payment from individuals who choose to use their services outside of an insurance or employer benefits plan.

https://www.ableto.com/

Country: New York

Foundations date: 2008

Type: Private

Sector: Healthcare

Categories: Health


AbleTo’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: reduces anxiety, wellness, therapeutic value, provides access

Functional: connects, informs, reduces effort, quality


AbleTo’s Related Competitors



AbleTo’s Business Operations


Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Best in class services:

When a firm brings a product to market, it must first create a compelling product and then field a workforce capable of manufacturing it at a competitive price. Neither task is simple to perform effectively; much managerial effort and scholarly study have been dedicated to these issues. Nevertheless, providing a service involves another aspect: managing clients, who are consumers of the service and may also contribute to its creation.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Revenue sharing:

Revenue sharing occurs in various forms, but each iteration includes the sharing of operational gains or losses amongst connected financial players. Occasionally, revenue sharing is utilized as an incentive program ? for example, a small company owner may pay partners or colleagues a percentage-based commission for recommending new clients. Occasionally, revenue sharing is utilized to share the earnings generated by a corporate partnership.

Healthcare:

The prevention, treatment, and management of disease and maintaining mental and physical well-being via the medical and allied health professionals' services. It includes diagnostic, preventative, remedial, and therapeutic service providers such as physicians, nurses, hospitals, and other private, public, and volunteer organizations. Additionally, it comprises producers of medical equipment and pharmaceuticals, as well as health insurance companies.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

Knowledge and time:

It performs qualitative and quantitative analysis to determine the effectiveness of management choices in the public and private sectors. Widely regarded as the world's most renowned management consulting firm. Descriptive knowledge, also called declarative knowledge or propositional knowledge, is a subset of information represented in declarative sentences or indicative propositions by definition. This differentiates specific knowledge from what is usually referred to as know-how or procedural knowledge, as well as knowledge of or acquaintance knowledge.

Solution provider:

A solution provider consolidates all goods and services in a particular domain into a single point of contact. As a result, the client is supplied with a unique know-how to improve efficiency and performance. As a Solution Provider, a business may avoid revenue loss by broadening the scope of the service it offers, which adds value to the product. Additionally, close client interaction enables a better understanding of the customer's habits and requirements, enhancing goods and services.

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