The investment includes participation from new strategic investors Cone Health Ventures and MemorialCare Innovation Fund, as well as existing financial backers.
The funding will fuel Centivo’s mission to address the rising healthcare costs faced by employers and employees in the United States. With healthcare spending surpassing $4.5 trillion in 2022 and deductibles continuing to soar, Centivo is committed to providing a solution that delivers both quality and affordability.
In 2023 alone, Centivo’s health plans achieved a remarkable 71% reduction in member out-of-pocket costs compared to their previous plans. Additionally, these plans typically saved employers 15% or more while increasing use of primary and specialty care.
At the heart of the Centivo model is a “win-win” proposition for progressive employers and value-based providers seeking cost-effectiveness and superior clinical outcomes.
Following the acquisition of Eden Health in May, Centivo has further enhanced its provider partners’ capabilities by offering an at-scale PCMH-certified virtual primary care practice that includes integrated behavioral health services. This expansion has strengthened Centivo’s platform and broadened its reach.
The company serves Americans in all 50 states and across a diverse array of industries, including automotive, retail, transportation, manufacturing, financial services, school districts, and more.
“We are thrilled to have this level of financial support toward the continued growth of our radically affordable healthcare solution in America”, said Ashok Subramanian, CEO and Co-Founder of Centivo.
He added: “Our next step is to expand the number of Americans who can finally have a health plan that they can afford to use and to make more heroes out of those employers who are restoring healthcare affordability in their workplaces.”
Source: Bestwire
