What You Should Know:
– Boston-based health IT start-up Cohere Health announced the official launch of its company with a $10 million Series A funding round led by Flare Capital Partners.
– The company’s patient journey-focused platform improves the notoriously difficult prior authorization process and replaces an existing patchwork of legacy, siloed processes, and antiquated technologies that contribute to the enormous administrative burden for physicians and health plans.
– The end goal is transparent, high-value care alignment across the entire patient care journey, to improve the quality of care delivered, the lower total cost of care, and transform the patient and physician experience.
Cohere Health, a Boston, MA-based health IT startup, today announced its company launch, with the mission of aligning the relationship between physicians and health plans around the care journey in a way that is appropriate for each patient. Cohere Health’s launch is flanked by the news of its recent $10 million Series A funding round led by Flare Capital Partners, with Define Ventures as an investor and partner as well as participation from an additional leading national strategic partner.
Every Health Journey Should Be A Win-Win-Win
Confusion and complexity shouldn’t define a patient’s journey. Patients deserve clearer paths to health, more transparency, and fewer bumps on the way. Assessing every transaction without any context creates an undue burden for physicians and health plans alike. Administrative complexity should never stand in the way of patient care.
Led by Co-Founder and CEO Siva Namasivayam, Cohere Health aims to improve the quality of care delivered, the lower total cost of care, and transform the patient and physician experience. Cohere’s patient journey platform, CohereNext replaces the existing patchwork of legacy, siloed processes, and antiquated technologies that contribute to enormous administrative burden for physicians and health plans. It further facilitates the transition from fee-based services to value-based arrangements by providing an evolutionary path that can support all payment arrangements while reducing unnecessary variation in clinical outcomes.
Benefits of Care Journey Recommendations
Cohere leverages care journey recommendations to fundamentally change the healthcare system through:
– Evidence-based care paths: increase transparency and trust among patients and their physicians.
– Advanced analytics and rules: help identify high-value care and, ultimately, improved outcomes
– Payments and incentives: incentivize physicians by ensuring that behavior leading to optimal patient outcomes also benefits practice economics
Proven Leadership Team
Cohere Health has assembled an impressive team of proven leaders, including Gary Gottlieb, MD, former CEO of Partners Healthcare (now MassGeneral Brigham) as Chairperson of the Board of Directors. “As a physician, it’s clear to me that the administrative complexity of the current system gets in the way of delivering the care that patients deserve, that physicians want to provide, and that health plans want for their members,” Gottlieb said. “If we’re going to realize the promise of value-based care, we need an approach that is based on all available evidence, shared expectations and transparency.”
Siva Namasivayam, CEO of Cohere Health, explained: “The current system is resource-intensive, unwieldy and creates a frustrating experience for patients, physicians and health plans. There’s no reason it should be so miserable for everyone involved. We have the evidence-based clinical algorithms, human-centered design and innovative technology to improve the system dramatically.” Namasivayam, who has more than 20 years of experience working on transformational healthcare businesses, was previously the CEO/Founder of SCIO Health Analytics.