Iora Health, a Boston, MA-based value-based primary care provider focused on Medicare has raised $100 million in Series E funding from global investors including .406 Ventures, Devonshire Investors, F-Prime Capital, Flare Capital Partners, GE Ventures, Humana, Khosla Ventures, Polaris Partners and Temasek. The company plans to utilize the funding to expand operations and invest further development of its proprietary collaborative care IT platform, Chirp that enables Iora’s teams to care for their patients as individuals and as a population.
Iora Health’s relationship-driven primary care model focuses on relationships to improve health outcomes and significantly lower costs than the traditional healthcare system. Care teams, made up of a provider, Health Coach, Behavioral Health Specialist, Team Nurse, Clinical Team Manager and an Operations Assistant, work together to treat the whole person.
Every patient gets a top-notch personal physician as well as a personal health coach who stays in close contact during and between office visits, both of whom are available by email, text, or video in addition to in-person visits. In addition, they provide great educational offerings, including group visits, to help patients stay on track with their health goals.
To date, the company has 34 primary care practices across 11 U.S. markets serving diverse populations with an increasing focus on the most under-served and complex patients — including people aged 65 years and older on Medicare.
The United States continues to spend more than other countries on health care despite experiencing consistently worse outcomes, underscoring the importance of consumer centric, value based care. Iora Health’s patients overall see a 40% decrease in hospitalizations and a 20% decrease in ER visits while also reporting high rates of satisfaction; Iora Health patients report an average 90 Net Promoter Score.