TailorMed Medical, a NYC-based patient financial navigation technology company, extended its round of funding, increasing the overall investment to $25m.
The new strategic investors, American Cancer Society’s impact investment fund, BrightEdge, OSF Healthcare’s corporate investment arm, OSF Ventures, and Citi via their Citi Impact Fund, seek to reduce medical costs through TailorMed’s platform across all treatments and patient populations. Sanara Capital, Sanara Ventures’ follow-on fund, also participated.
The company will use the funding to further expand its reach across health care with innovative financial solutions.
Led by Srulik Dvorsky, CEO and co-founder, TailorMed is a health care technology company focused on ensuring all patients across all medical conditions can afford treatment. Its platform automates the entire process of identifying financially at-risk patients, matching and enrolling them in financial resources such as: co-pay assistance, replacement drug programs, government subsidies, community and state resources, assistance from disease-specific foundations, and programs that support patients with their living expenses – including those affecting social determinants of health. For patients, the platform can help reduce out-of-pocket responsibility, eliminating downstream financial hardships and avoidance of care. For health organizations, TailorMed shifts financial assistance from reactive matching or downstream collections to a proactive approach of addressing financial needs for more patients at the point of care.
The company, with clients in physician practices, specialty clinics and health systems, crossed over into a new health care market in 2021, gaining adoption in pharmacies nationwide.
FinSMEs
29/09/2021