EasyHealth Raises $135 Million in Funding to Redesign Medicare by Connecting Coverage and Care
LOS ANGELES, Nov. 18, 2021 (GLOBE NEWSWIRE) — EasyHealth today announced it has raised $135 million in equity and debt funding to further its mission to improve health outcomes for Medicare members by connecting coverage and care. Funding was co-led by Anthemis Group and QED Investors and included Victory Park Capital, Nationwide Ventures, Healthy Ventures, Brewer Lane, and Operator Partners. This is a significant milestone for the 50 million Americans on Medicare and the future of connected healthcare.
Healthcare is fragmented and broken. Gaps in data and weak relationships between agents, members, plans, and providers limit collaboration and innovation. Poor communication and outdated systems have led to high costs and ineffective care. To fix this, EasyHealth is redesigning the Medicare Experience around people and data. EasyHealth’s platform uses AI to close information gaps, drive better health engagement, and detect health risks earlier, delivering dramatically more value to members and plans.
“More Americans are enrolling in Medicare plans than ever before given the plans’ unique advantages, yet a communication breakdown between members, carriers, providers, and brokers is leading to suboptimal outcomes,” said Laura Bock, partner at QED Investors. “Technology can break down these silos and enable a much better experience for all involved. Over the past year, EasyHealth has made incredible progress in removing friction from the Medicare experience.”
EasyHealth is the first platform to truly connect health coverage and care. The company’s unique relationships with leading health plans enable them to integrate care navigation into the enrollment process. To identify potential chronic conditions and surface vital insights that enable plans and providers to personalize care, EasyHealth’s proprietary health risk analytics engine ingests and scans disparate historical medical records using deep learning. For plans, the implications for risk adjustment, STARS, HEDIS, CAHPS, are profound. For members, the benefit is clear; better, more affordable care.
Founded in 2020, EasyHealth is one of the fastest-growing health tech companies. By allowing independent insurance agencies to leverage the EasyHealth Platform alongside EasyHealth’s own agents, EasyHealth’s End-to-End Medicare Experience has rapidly scaled to help more Medicare beneficiaries. The EasyHealth end-to-end model supercharges growth for agency growth by expanding the value agents can deliver to customers and improving member retention. This is a powerful flywheel, as more engaged members improve plan performance, and higher lifetime value can be reinvested in growth.
“EasyHealth’s mission is to harness technology to deliver better health outcomes. We use our position at the front door of Medicare to drive meaningful change for members, brokers, and health plans,” said David Duel, co-founder & CEO of EasyHealth. “We have assembled a proven executive team with deep insurance, Medicare, and medical experience in order to deliver a disruptive end-to-end experience that improves member health outcomes and health plan retention.”
“We couldn’t be more excited to partner with EasyHealth,” said Amy Nauiokas, founder and CEO of Anthemis. “They are disrupting the health insurance space by empowering insurance providers to support Medicare-eligible individuals in selecting their ideal healthcare plan. Having quick and efficient access to benefits is more important than ever in the current pandemic environment, and EasyHealth plays a vital role in providing health and financial security to those who need it the most.”
“As an industry leader, EasyHealth is well-positioned to capture future growth opportunities as enrollment in healthcare plans continues to increase,” said Connell Hasten, partner at Victory Park Capital. “The Medicare enrollment process has been ripe for improvement over the course of many years, and we are strong supporters of EasyHealth’s differentiated approach and vision. We look forward to partnering with their growing team as they continue reducing barriers for Americans to enroll in the Medicare plans suitable to their individual needs.”
About EasyHealth
EasyHealth is connecting coverage and care with the first end-to-end Medicare experience. Its platform empowers a national network of agents and clinical professionals to help 50 million Medicare members find the best plan and support them through their healthcare journey. EasyHealth is backed by leading insurtech and healthtech investors including Anthemis, QED, Healthy VC, Brewer Lane, and Nationwide Ventures. For more information, visit joineasyhealth.com
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