What You Should Know:
– Hint Health, a direct primary care (DPC) provider raises $45M led by Banneker Partners and Frist Cressey Ventures.
– The investment will support the growth of Hint’s operating system technology for core customers and an expansion of its national DPC network, Hint Connect. Hint Health will also use the investment to increase services that support innovative virtual-first care models and near-site / on-site clinics that directly contract with employers.
Operating System for Direct Care
The distortions driven by the existing fee-for-service insurance model are a major contributor to the unsustainable U.S. healthcare system, which sees close to $1 trillion annually in wasteful spending. Increased provider burnout, patient dissatisfaction, and ballooning employer costs are leading to the accelerated growth of DPC, which saw membership across the U.S. increase 241% from 2017 to 2021.
Founded in 2013, Hint Health is redesigning the way healthcare is paid for and delivered. Hint offers membership management and billing software for independent provider organizations that offer direct access to high-quality, affordable, membership-based primary care. HintOS™ is the only platform designed specifically for providers of any size to manage the unique complexities of a membership-based primary care model. The platform automates the enrollment, membership management, and billing for DPC providers who are offering their primary care services directly to consumers for a fixed monthly fee. HintOS also supports providers in their direct-to-employer contracting by managing eligibility and a payment process that does not depend on a fee-for-service infrastructure.
Hint puts health back at the center of healthcare by allowing DPC providers to focus on a patient’s medical needs instead of how much in fees that patient will bring to the practice. Additionally, with Hint Connect — a network of DPC providers across the country — plan sponsors and networks have the ability to grow and scale their practices with ease.
The average primary care doctor visit costs patients $167, takes weeks to schedule, and requires jumping through insurance hoops just to receive basic care. At a median cost as low as $75 per month, patients within the DPC model get unlimited access to primary care, telemedicine, and urgent care. The result is higher quality doctor-patient relationships and more thorough care, with appointments that last 45-60 minutes rather than the average 18 minutes experienced in fee-for-service primary care.
To date, Hint Health is available nationally and powers over 2,400 DPC providers and 1,600 clinical locations across the U.S. reaching nearly 800,000 patients.
