What You Should Know:
– Nice Healthcare raises $5M in seed funding to power the next phase of growth of its in-home and virtual primary care services.
– Nice contracts directly with employers to provide unlimited access to its service under a transparent and capitated rate of $30 – $36 per employee per month.
Nice Healthcare, a Minneapolis, MN-based provider of in-home and virtual primary care services, today announced it has raised $5 million in seed funding to pioneer the next phase of “Frictionless Primary Care”. The seed round was led by Conductive Ventures and Waterline Ventures with existing participation from Indie.vc. Bryce Roberts of Indie.vc and Robbie Greenglass of Waterline Ventures will join the Nice Healthcare board of directors.
Free & Unlimited Primary Healthcare
Founded in 2017, Nice Healthcare is a provider of “Frictionless Primary Care”, primary care in which financial friction and access friction has been eliminated for both patients and clinicians. Nice Healthcare brings healthcare services into the patient’s home using a combination of in-person and virtual visits. Nice contracts directly with employers to provide unlimited access to its service under a transparent and capitated rate of $30 – $36 per employee per month.
Dependents are free and there are no visit fees billed to the patients for any of Nice’s services which include in-home primary care visits, virtual visits, 550+ prescriptions, in-home labs, in-home x-rays, and virtual physical therapy and chronic condition management. The company’s customers include small and medium-sized businesses.
“We made a couple of big bets that are really paying off. A belief that bricks and mortar clinics and fee for service has failed patients and clinicians,” explains co-founder and CEO, Thompson Aderinkomi. “Our model of bringing care to the patient – whether that is virtually or by sending a provider to the patient’s home – has never been more attractive to our patients. Pair that with a low, transparent, fixed, capitated rate of $30-$36 per employee per month for our services and we have suddenly established a new paradigm for how patients and providers develop a relationship.”
The Company plans to use the funds to launch its model of care into several new markets. By expanding its offering to include over 550 acute and chronic medications free of charge as well as virtual physical therapy to address the musculoskeletal needs of its patients, Nice is broadening the ways members engage with their Nice provider. Genevieve Swenson, co-Founder and COO, and FNP stated.
“We want every one of our members to know that we are in their corner. Whether they are healthy, have the sniffles, or are managing chronic health conditions, a Nice healthcare provider is going to be able to engage with them and help them accomplish their goals. Expanding our prescription formulary and adding access to licensed physical therapists are the two newest examples of how we are broadening ways we can help”.
Nice works closely with these companies to deliver the highest level of care to their employees.
“When we decided to offer Nice to our employees, we did so because we believed that improving access to primary care for our employees was the right thing to do and that it is a benefit that they would utilize,” said Gene Leistico, HR Director at ACR Homes. “For small employers like us, I can’t think of a benefit that delivers more value for our employees than Nice Healthcare, especially in this new world we live in.”