Carrum Health, a San Francisco, CA-based digital health startup has raised $6.5 million in seed funding led by Wildcat Venture Partners including participation from SJF Ventures and SpringRock Ventures. Carrum Health plans to use the funding to expand their comprehensive bundled payment platform to meet the growing demands of their customer base by offering additional acute care bundles in orthopedic, spine and cardiac and adding key service lines such as bariatrics and maternity.
Founded in 2014, Carrum Health directly connects progressive self-insured employers to top-quality regional healthcare providers through the industry’s first comprehensive bundled payment solution. The platform reimagines how care is paid for and delivered, improving the value of health benefits for employers and their members. They also aim to help top-quality provider systems pursuing value-based care initiatives establish themselves as Centers of Excellence and gain market share.
Key features of the Carrum’s bundled payment platform include:
– Provider Contracting: full-service provider management with robust quality evaluation and standard bundled contracts. All bundles have a compelling price and readmission warranty.
– Member Engagement: comprehensive engagement toolkit includes incentive design, custom communication campaigns, and integration with existing programs and channels
– Care Concierge Service: support from a dedicated Carrum Care Concierge, who is your personal assistant and compassionate advocate throughout the entire journey.
– Analytics: predictive algorithms to monitor the performance of the program, isolate actionable improvements and maximize employee engagement.
– Operations: Easily customize policies and procedures to fit your organization
To date, the platform is currently serving more than 400 employer groups on the West Coast of the U.S. Beyond acquiring more users, the patients using the innovative platform provided positive feedback on the highly differentiated experience it offered and incentivized Carrum Health to continue to expand their offerings.
“As healthcare continues to push towards value-based care, employers are paying close attention to their healthcare benefits to meet the needs of their employees at a reasonable price,” said Sachin Jain, CEO of Carrum Health in a statement. “We’re excited about this funding because it positions us to meet the demands of current and future customers by expanding our bundled payment offerings. This capital will also go towards further enhancing our technology and operations platform while improving our analytical insight capabilities.”