Connecting employer healthcare plans to surgical centers of excellence nets Carrum Health $40 million
Six years after launching its service linking employer-sponsored insurance projects with surgical centers of excellence, Carrum Health had given rise to $40 million in a new round of financing to capitalize on tailwinds spurring its business forward.
As the COVID-1 9 pandemic uncovers sounds in the U.S. healthcare organization, one of the ways that employers have tried to manage the significant costs of insuring employees is by taking on better management of care themselves.
As they shoulder more of the burden, corporations like Carrum, which offer services that organize some of the necessary points of care for businesses, at lower costs, has become more attractive targets for investors.
That’s why Carrum was able to attract investors led by Tiger Global Management, GreatPoint Ventures and Cross Creek, all firms that participated returning investors Wildcat Venture Partners and SpringRock Ventures in patronage the company’s Series A round.
Carrum said the money will go toward marketings and commerce to more customers, including more services and improving its existing engineering stack.
Carrum implements machine learning to collect and analyze data on surgical outcomes and care to identify what it considers to be surgical centers of excellence across the U.S.
The company offers self-insured employers the opportunity to buy services immediately from surgical centres for a bundled rate. That can symbolize savings of up to 50% on surgical expenses.
Using Carrum, there are no co-pays, deductibles or co-insurance. Instead, Carrum Health’s clients pay a reward and in return receive a 30 -day warranty on procedures, meaning that the healthcare provider will submerge any costs associated with care from botched actions or complications.
Employees have access to a portable application that grants them access to virtual care before, during and after surgeries.
” For years, the industry has talked about redesigning healthcare to benefit patients, but the only way to really do that is to tackle the underlying financials of charge, a indeed great difficulties ,” said Sach Jain, CEO and founder of Carrum Health, in a statement posted.” Supervisors now have a modern, technology-driven solution to help patients get better care without business headache and we’re not stopping at surgery. In 2021 we’ll be expanding our reach and impact with additional business. It’s such an honor to pave the way for a better healthcare future and we’re so exciting for what’s to come .”
Carrum Health’s customers include Quest Diagnostics, US Foods, and other, undisclosed organizations in retail, manufacturing, communications and insurance, the company said.
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