Vim, maker of a tech platform enabling value-based care for health plans and providers, has raised $24 million in a Series B round led by Optum Ventures and Premera Blue Cross. Great Point Ventures, Sequoia Capital and Leverage Health Solutions have also backed the company.
WHAT THEY DO
Vim offers a patient-facing appointment booking platform that can be integrated onto payer and provider sites or apps. Physicians and services recommended through this tool are part of the company’s “virtual network,” which prioritizes cost-effective care providers and does not interfere with existing contracts. Additionally, provider and payer customers are given access to analytics tools so that they may review referrals and improve their referral patterns.
“Vim’s platform helps remove the complexity of navigating the health care system and uniquely positions us to align stakeholders,” Oron Afek, CEO and cofounder of Vim, said in a statement. “It’s more important than ever that we use technology to help patients access high-quality care and reward care providers for delivering value. We’ve already proven we can drive a meaningful impact in Washington, Alaska, Florida and Texas, and we’re excited to leverage our recent investment to reach more patients and care providers.”
WHAT IT’S FOR
Vim said in its announcement that the new funding will support the company’s growth as it enters new markets within the U.S. It also plans to scale up its product development and hiring initiatives.
As the traditionally fee-for-service healthcare industry continues to voice its support for value-based care, new tools and initiatives are cropping up to give payers, providers and patients the most bang for their buck. For instance, Intermountain Healthcare launched a spinoff in July called Castell that will be using technology to guide value-based care based on the system’s best practices.
ON THE RECORD
“Vim is achieving incredible results with its clients, proving that they are well-positioned to continue to drive real value and define the marketplace,” Richard Lungen, managing member of Leverage Health Solutions, said in a statement. “These investments are a material validation of Vim’s value proposition and growth.”