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Collective Health Raises $38 Million to Scale Its Employer Health…

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Collective Health record provides actionable insights formed on real-time health claims data, with discerning mobile and web interfaces

SAN MATEO, Calif. (PRWEB) Mar 19, 2015

Collective Health, an rising personality in employer-sponsored health insurance, announced now that it has lifted $38 million in appropriation with a new tighten of a Series B financing. The company’s appropriation has been led by Founders Fund and NEA, with appearance from Formation 8, Redpoint Ventures, RRE Ventures, Subtraction Capital and Rock Health. This investment enables Collective Health to accommodate a fast flourishing direct for a employer self-insurance platform.

150 million Americans now accept health word coverage by their employer[1]. Despite a disaster of normal health word skeleton to accommodate employers’ needs and a flourishing responsibility of those plans, a bound costs and logistical hurdles of switching to self-insurance have kept many American employers unnecessarily sealed into entirely insured health plans. By leveraging a latest in cloud-based program record and information science, Collective Health is democratizing entrance to self-insurance for a infancy of American companies, while delivering a member knowledge to their employees that rivals a world’s tip use brands.

“Recently, a lot of courtesy has been paid to creation people improved consumers of healthcare, and health word in particular. However, in a United States, employers expostulate many health word purchasing decisions and cover a lion’s share of medical costs,” pronounced Ali Diab, Co-Founder and CEO of Collective Health. “With a subsidy of investors behind such transformative companies as SpaceX and Workday, and by leveraging a latest in cloud-based program technology, UX pattern and information science, Collective Health has grown a initial self-insurance SaaS height for American employers to unite their employees’ medical on their possess terms, but a need for a normal health word plan.”

Already, Collective Health has demonstrated a thespian advantages that employers can grasp by switching to a self-funding platform, with member compensation scores distant leading normal health word attention benchmarks. In addition, Collective Health brings together medical, pharmacy, dental and prophesy benefits, underpinned by a country’s tip provider networks, in one platform, to facilitate a administration of self-insured association health advantage plans. With Collective Health, members and their employers get actionable insights formed on real-time health claims data, with discerning mobile and web interfaces that yield anytime, anywhere entrance to health devise information and assistance.

“Collective Health represents a elemental change within a health word industry, permitting some-more companies to quietly quit to self-funded programs for employees,” pronounced Mohamad Makhzoumi, Partner and Head of a Healthcare Services and Healthcare IT use during NEA. “Ali and a group during Collective Health have grown a data-driven record enabled knowledge that advantages all parties involved. Employers can minimize a risk that is ordinarily compared with self-funding, while their employees can take control of their medical with glorious UX pattern and mobile management. I’m vivacious to partner with Collective Health to change a approach companies provide, and employees access, healthcare.”

About Collective Health

Collective Health is redefining employer-sponsored healthcare. Using Collective Health’s self-insurance platform, organizations and their consultants can design, discharge and optimize worker health advantage programs harnessing a energy of information scholarship and record in ways that have simply not been probable to-date. Founded in Oct 2013, Collective Health is now portion California formed employers, and will be expanding a geographic coverage nationally starting in 2015. The association is formed in San Mateo, CA.

For some-more information, greatfully revisit http://www.collectivehealth.com.

[1] Source: Kaiser Family Foundation 2014 Employer Health Benefits Survey.

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