The open enrollment period for Medicare started on Friday, October 15th and will continue through early December. For the 60M+ Americans, this is a critial period where they can make changes to and add/drop coverage. For most Americans, navigating the 24,000+ options available is a difficult and arduous process without help. Chapter is a Medicare advisory platform that uses a blend of technology and a trained team of advisors to decipher all plans at a microscopic level, ensuring that members are able to enroll in the plans that are best suited for their needs based on cost and coverage. Typically, Medicare advisors are incentivized by insurance companies to enroll members and naturally, these advisors steer members towards plans that offer the best compensation; often creating a misalignment. Chapter’s advisors are all full-time employees that are not compensated directly based on commissions. Combining this dynamic with plan data that Chapter’s technology generates, members are confident that are receiving unbiased and impartial recommendations. AlleyWatch caught up with Chapter CEO and Cofounder Cobi Blumenfeld-Gantz to learn more about the inspiration for the business, the company’s future plans, and latest round of funding from Narya Capital, Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core Innovation Capital, and Health2047 Capital Partners.
The pandemic led to the rapid acceleration in the adoption of telehealth services. In February of this year, there were 38x more outpatient virtual visits compared to February of 2020. Now the landscape is poised to expand on the earliest iterations and specialized care is one of the primary avenues. Oshi Health is a virtual-first care platform targeted for those with gastrointestinal (GI) conditions. Users of the platform have access to a suite of professionals including licensed gastroenterologists, practitioners, mental health professionals, dieticians, and health coaches. Under the unified care plan, patients that require in-person services are connected with a network of pre-vetted providers. Those with newly diagnosed chronic conditions can work hand-in-hand with experts to understand the impact of triggering behaviors in real-time; something that’s just not possible when you need to schedule an appointment and see someone in person. Oshi works directly with employers and health plans to offer their services to employees and members, ultimately leading to long-term savings and improved patient outcomes. AlleyWatch caught up with Oshi Health CEO Sam Holliday to learn more about how Oshi is bringing much-needed care to those with GI conditions, the company’s strategic plans, latest round of funding from investors that include Flare Capital Partners, Bessemer Venture Partners, Frist Cressey Ventures, CVS Health Ventures, Takeda Digital Ventures, Jonathan Bush, Nat Turner, Zach Weinberg, Eric M. Stone, and Russell Glass.
There’s been a growing movement towards outcome-based healthcare payments as value-based care moves to the forefront of the discussion on how to contain ballooning healthcare costs. However, implementing true value-based healthcare is a challenge. In order for care teams to be incentivized to understand the full extent of a patient’s condition to provide comprehensive care plans, they need to track various records across disparate sources, introducing a logistical hurdle in terms of workflow. Stellar Health is a point-of-care platform that provides practitioners with an actionable checklist of recommended actions to improve patient outcomes and compliance based on clinical and behavioral data, broken into simple steps. The platform also includes an analytics suite and structured incentive payment program, both of which are designed to meet the needs of payors, providers, and healthcare systems by ensuring that providers are providing optimal care and being compensated for such while payors can rest assured that costs are contained and patient outcomes are optimized. Stellar currently has over 60+ collaborations, covering 300K patients across 20 states. AlleyWatch caught up with Stellar Health Cofounder and CEO Michael Meng to learn more about the future of value-based care, the company’s strategic plans, latest round of funding from investors that include General Atlantic, Point72 Ventures and Primary Venture Partners.
There has been a resurgence in the debate about the clinical use of Psychedelic therapies or psychedelic-assisted psychotherapy (PAP). There’s been increased legalization of substances and ketamine has been the most-studied psychedelic drug for its promising response to treating mental health conditions especially when it comes to healing patients from past trauma. Journey Clinical is a prescription service that allows Psychotherapists to prescribe ketamine-assisted psychotherapy to unlock a new care pathway for patients for whom traditional pharmacological routes have not worked. Psychedelics are said to increase suggestibility, making patients more open to concepts brought up in therapy as well as resulting in neurotransmitter changes causing an improvement in mood. AlleyWatch caught up with Journey Clinic CEO Jonathan Sabbagh to learn more about the company’s mission to make psychedelic therapy more accessible and mainstream, how his personal journey overworked in finance led the AHA moment, strategic plans, latest round of funding from investors that include Fifty Years Neo Kuma Ventures, Palo Santo, PsyMed Ventures, and Lionheart Ventures.
The pandemic has defined the future of virtual healthcare as the importance of providing unfettered access to essential healthcare services grew dramatically as society adjusted to the new dynamic. The adoption is expected to endure. In fact, virtual care visits for outpatient care increased 38x in February of this year compared to February of 2020. Despite surging usage and an increased willingness from both consumers and providers, the virtual healthcare journey experience can still be quite fragmented. Pager is a comprehensive virtual care platform that helps patients from initial triage to follow-up care, all in a seamless experience. Offered primarily through health plans and health care organizations, the platform is always accessible to allow access to nurses, doctors, pharmacists, coordinators, and advocates while allowing users to manage nearly every facet of healthcare including triage, telemedicine, appointment scheduling, e-prescriptions, post-care follow-ups, care advocacy, billing, and customer service. AlleyWatch caught up with Pager CFO Matthew J. Kempler to learn more about how Pager is allowing patients to navigate care pathways like never before, the company strategic plans, latest round of funding led by led by Susquehanna Private Equity Investments.
The pet medication industry was $10.8B in 2020, growing 9.2% year-over-year. With pet ownership surging during the pandemic, this market is only expected to continue growing. Veterinary sales of over-the-counter and prescription medications accounts for 72% of all sales. Mixlab is a veterinary pharmacy platform that offers same-day (in New York or LA) or next-day delivery (everywhere else) of pet medicine. The medications are tailored for consumption with flavoring (e.g. beef, bacon, or marshmallow), flexible dosages depending on the size of the animal, and various forms (treats, liquids, gels, etc). AlleyWatch caught up with Cofounder and CEO Fred Dijols to learn more about building the modern digital pet pharmacy experience, the company’s strategic plans, and latest round of funding from investors that include Sonoma Brands, Global Founders Capital, Monogram Capital, Lakehouse Ventures, and Brand Foundry.
Microbiome science can explain how genetics and the body interact, explaining why similar genes can generate variable outcomes among populations. Understanding these interactions introduces new pathways for treatment and prevention of disease and ailments, ultimately extending health and life spans. Evvy is a newly-launched startup focused on using metagenomic sequencing to understand women’s health like never before. The company’s first product is an at-home vaginal microbiome test that’s used to assess and understand vaginal health to address conditions such as yeast infections, UTIs, infertility, gynecologic cancers, STIs, and premature birth. The test is approved for use in all states and is available direct-to-consumer on Evvy’s website as well as through clinical partners. Evvy plans to expand its biomarker offering to include different conditions so that women are empowered to take control of their health with data and scientific knowledge that was previously unattainable. AlleyWatch caught up with CEO and Cofounder Priyanka Jain to learn more about how Evvy is disrupting women’s health, the company’s strategic plans, recent round of funding from investors that include General Catalyst, BoxGroup, Virtue, Human Ventures, and G9 Ventures, BBG Ventures.
45% of Americans have at least one chronic condition with a total cost of $3.7T per year. The most common form of treatment is medication. Thirty Madison is a healthcare company that helps people with chronic conditions access high-quality virtual treatment options provided by specialists. The company operates a growing family of brands that address a number of common treatable conditions. Among them are Keeps (hair loss), Cove (migraines), Even (gastrointestinal conditions), and Picnic (allergies). In 2020, the company tripled its revenue, serving hundreds of thousands of patients across its various lines, fulfilling the accelerated demand for telehealth solutions in the wake of the pandemic. AlleyWatch caught up with CEO and Cofounder Steven Gutentag to learn more about the inspiration for the business, the company’s strategic plan, the latest round of funding from investors that include HealthQuest Capital, Mousse Partners, Bracket Capital, Polaris Partners, Johnson & Johnson Innovation, Northzone, Greycroft, and others.
The pandemic has reshaped the future of remote healthcare as accessibility to healthcare became paramount, leading to accelerated digital adoption. In fact, 23.6% of all healthcare interactions were via telehealth during the first four months of the pandemic, up from just .3% for the same period in 2019. LetsGetChecked is a virtual healthcare company that initially started by providing at-home diagnostic testing for the treatment and diagnoses of several ailments like sexual health, cholesterol, diabetes, and even COVID. Building on the 100+ at-home tests, the company has now expanded into telemedicine consultations and pharmaceutical fulfillment for these conditions. Through the pandemic, LetsGetChecked managed to grow revenue by more than 1500% as a result of increased interest in virtual care. AlleyWatch caught up with CEO and Founder Peter Foley to learn more about how his own experience as a patient inspired the business, the impressive traction that led to the company reaching unicorn status, latest funding round from investors that include Casdin Capital, CommonFund Capital, Illumina Ventures, Optum Ventures, Transformation Capital, HLM Venture Partners, and Qiming Venture Partners USA, and Rory Mcllroy through Symphony Ventures.
Vital sign monitoring is critical for health care providers to gauge a patient’s health, well-being, and responsiveness to treatment. These vitals are also indicators of future illness in many cases. Technologies using video combined with ambient light monitoring, radar, and sound made possible by modern sensors allow vital sign monitoring to now happen without contact or even remotely. Norbert Health has developed a vital monitoring solution that provides continuous monitoring for a number of vitals including temperature, heart rate, heart rate variability, and pulse wave velocity (indicator of blood pressure) with readings for respiratory rate and oxygen levels coming soon. On the back end, the company offers a robust data platform to manage these readings whether it’s in a healthcare, workplace setting, or home setting, leading to an unprecedented understanding of health patterns and illness before the onset of any visible system. AlleyWatch caught up with CEO and Cofounder Alexandre Winter to learn more about how Norbert has built the technology to make contactless monitoring a reality, the company’s strategic plans, latest round of funding from investors that include Serena Capital, HCVC, Exor, C4 Ventures, LDV Capital, and Newlab.
While the growth of big data and analytics help businesses understand their customers, serve better ads, and sell more, in healthcare, these same methodologies and technologies have a real enduring, profound societal impact. Real-world data (RW) and real-world evidence (RWE), made possible by technology, are being used by pharmaceutical companies and the healthcare ecosystem to develop, evaluate, implement, and optimize new treatment approaches. Aetion is the RWD and RWE platform that enables the healthcare system to harness the power of data to shape the future of medicine. The platform is designed to accelerate the time to market without compromising scientific rigor. For example, the company partnered with the FDA to develop real-world analytics related to COVID and vaccines. AlleyWatch caught up with CEO Carolyn Magill to learn more about Aetion’s approach to RWD is enabling the healthcare system to make informed decisions, the company’s strategic, plans, latest round of funding, and much, much more.