This morning primary care and insurance navigation platform Eden announced a $10 million Series A funding round led by Greycroft, with participation from PJC, 645 Ventures, Max Ventures, Convene, Aspect Ventures and Brand Foundry.
What they do
The company focuses on providing primary care and insurance navigation directly to employers.
“When we were launching the company the intention was to bring primary care directly to companies, and we found out along the way that one of the biggest impediments to doing that was making sure people could successfully navigate the healthcare system, whether that is to specialists [or] knowing what is covered by their insurance or all of the above,” Matt McCambridge, CEO of Eden, told MobiHealthNews.
The company uses a three-pronged approach: Users can access a doctor through a virtual care model, they can use the platform to navigate their insurance benefits, and access Eden's in-person component in select locations. Patients can also request repeat visits with the same physician.
For McCambridge, his connection to the technology is personal. When he was a child, his sister had an undiagnosed condition that sent her to the emergency room over a dozen times. After countless trips to specialists, it was a primary care doctor who was able to pinpoint her diagnosis.
He said that providing access to full-time primary care providers was important for him, as the technology can increase the amount of time that a patient can spend with a provider.
“We work exclusively with employers and the employers pay us basically a piece of what they use for the regular medical care on yearly basis. And all of our services are covered under this subscription or annual fee from the employer, and that comes right out of their existing medical spend,” he said. “So they aren’t increasing how much they spend, they are just spending it a little bit differently which allows us to do 70 percent of our clinical interactions virtually. It allows us to spend 30 minutes minimum with a patient in person, as well as doing insurance navigation.”
What it’s for
The most recent raise will let the company expand virtual care to all 50 states. McCambridge said the in-person facilities will also be expanding in the future.
Primary care has been a focus in digital health. Just yesterday Doctor On Demand launched an integrated virtual primary care platform designed to integrate with US health plans’ and employers’ existing networks.
On the record
“As the consumerization of healthcare accelerates, we are seeing increasing demand for a more intuitive, efficient way to access quality care,” Ellie Wheeler, partner at Greycroft, said in a statment. “By bridging elements that have been traditionally siloed — primary care, mental healthcare and insurance navigation — Eden Health is changing the way employees are interacting with their benefits.”