Healthcare startup pays employees for exercising
Karrot Health startup motivates employees to get paid by completing fitness goals set by the employer. The company uses different wearables such as Apple watch and Fitbit for monitoring health.
Many people use wearable devices such as Fitbit and Apple watch across the globe for their fitness goals. These wearables can track your health easily. Many startups are coming forward to help people in monitoring their health with the use of such wearables. Karrot Health is one such startup that is helping people by giving incentives to their employees with special monetary awards.
The startup is based in Chicago and provides the platform to track participant’s fitness metric with a wearable device such as Fitbit and Apple watch. These devices are synced with smartphones thereby sending notifications to employers to update them with their fitness goal.
With Karrot, employers can be paid by unlocking certain fitness milestones and get a bonus for their outstanding performance. The more you log calories, the more you are paid. You can track your calories using the app on your smartphones. Karrot has application in iPhone that fetches data from Health Kit, which is Apple’s default fitness feature.
With the help of the app, users can easily track their workouts in a hassle-free manner. Employers have the option to compensate employees with different gift cards, bitcoins and cash, which can be ordered from Amazon and Uber.
To use the Karrot, an employer needs to do the sign up their team which involves zero hidden cost. Employer than sets the monthly fitness goals such as, burn 2,500 calories for $15.
In next step, employees download the Karrot health mobile app and when they achieve their monthly goal, they get paid. The app is user-friendly and easy to use. The startup wants to help people in achieving their fitness goal rather than taking membership fees like gym and other fitness centres. The company does not want to needlessly cost their employers and this is the reason they have created the innovative platform for fitness.
Kelly Halpin launched the startup in 2017 with an aim to compete in health benefits marketplace, which he believes is stagnant. He said, “We can offer benefits to any size company.” He further explained that companies may spend an extra $20 or $50 a month [using Karrot], but compared to what you’re getting from it, it’s well worth the money. The companies will have people that are healthier and happier. Karrot has big plans for future and the startup is going to cost less for health insurance companies.
Karrot would be launching their application on Android devices and the startup is looking for talent to achieve this purpose. As per Kelly, “The biggest problem for almost every company is attracting and retaining top-quality talent, and we’re sort of a nice little perk that you can offer.” It is a B2B company but has plans to add consumer elements in near future.
This would help any user to use Karrot in achieving their fitness goals. They can also get inspirational coaching from trainers that would certainly help them in burning their calories easily.
Currently, Karrot charges the company $5 for every employee that reaches their health goal.
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