Turquoise Health Raises $20M for Healthcare Pricing Platform,

What You Ought to Know:

– Turquoise Well being, an end-to-end healthcare pricing platform, immediately introduced a $20M Sequence A funding led by current investor Andreessen Horowitz (a16z), with participation from Bessemer, Field Group, and new investor Tiger World.

– Turquoise Well being will use the funding to proceed making clear pricing ubiquitous for all healthcare stakeholders: payers, suppliers, and sufferers.

Direct Contracting Platform

In anticipation of July payer charges disclosures, Turquoise Well being has launched its direct contracting platform, Clear Contracts, a SaaS platform that streamlines the direct contracting course of between suppliers and purchasers atop a basis of pricing information. Turquoise Well being is targeted on making a streamlined pre-revenue cycle powered by simplified contracts. Clear Contracts will help Single Case Agreements, Retrospective Out of Community Agreements, and Group Well being agreements. At present suppliers and purchasers join on the Turquoise Platform to barter, redline, and signal data-driven contracts.

The corporate already sees an impression on affected person conduct. Whereas most of Turquoise Well being’s downstream pricing information reaches care navigation platforms by a Pricing API, hundreds of sufferers browse the Turquoise Well being web site every month for inexpensive care throughout hospitals in all 50 states. The corporate seeks to unfold clear pricing information to affected person encounters in any respect websites of care.

“We’re dedicated to a imaginative and prescient of the brand new ‘pre-revenue cycle’ the place sufferers and payers know the prices upfront and suppliers turn out to be accustomed to real-time cost for shoppable companies,” mentioned Turquoise Well being Co-Founder and CEO Chris Severn. “By making a clear, easy-to-use direct contracting platform, Turquoise Well being is shifting the trade’s focus in the direction of full monetary certainty previous to care finally leading to much less friction between sufferers, suppliers, and payers.”