Embold Health Raises $20M Series B to Focus on National Expansion
Embold Health, a leader in objective physician performance analytics, announced a Series B investment led by Echo Health Ventures. The $20M Series B investment will allow Embold Health to focus on national expansion and advance the vision to raise health care quality by providing every health care consumer in America with actionable, objective quality metrics.
Embold Health – A Short Overview
Confidence in digital health technologies’ and tools’ potential continues to progress as health systems invest in a more digital health care experience – focusing on connecting with, communicating with, and monitoring patients outside the health system’s walls. Digital patient access has significantly evolved throughout the pandemic, and consumer decisions have developed along with it. Embold Health’s foundation is on the belief that the cost and quality of health care can be dramatically improved — only when all constituencies have access to objective clinical performance measures.
Embold has built a suite of robust practice patterns and appropriateness metrics to power smarter health care decisions, according to the announcement. Employers and their employees, health navigation solutions, consultants, providers, and health plans benefit from using evidence-based performance analytics to make better-informed decisions when choosing healthcare providers and understand how individual clinical judgment can impact physician performance relative to their peers.
SUPERIOR ANALYTICS + THE MOST COMPREHENSIVE DATA = MORE POWERFUL INSIGHTS
As the demand for transparency in health care grows, there are new opportunities to leverage health data to gain insights about provider- level performance to benefit consumers, health plans, employers and physicians alike. Embold analyzes the appropriateness, effectiveness, and overall cost of care delivered by individual clinicians. The measures are deployed as searchable ratings and comprehensive health benefits tools for members, network curation modeling for employers, and referral guide for onsite clinics. Embold provides complete measurement transparency, enabling physician improvement across communities and perpetually refines the Embold methodologies.
Embold Health analysis captures three essential aspects of care delivery:
Was the care medically necessary? Has the care been shown to improve health based on the latest science?
Was the care delivered following the latest scientific guidelines? Did patients achieve the proper outcomes?
Was the care delivered cost-efficiently, or are there opportunities to reduce the cost associated with the treatment?
People don’t have a meaningful tool right now to measure true quality. We are on a mission to set the standard in physician performance measurement, and we believe every health care consumer and provider should have access to this information. Our goal is to make the measures accessible and actionable for everyone. It is not enough to identify who is performing well: it’s equally important to provide meaningful feedback to all providers to let them know how they can improve.Daniel Stein, Embold founder, and CEO
A Look at the Embold Solution
Embold for Employers and Health Plans
Consumers should also have access to all of the quality data and available cost right at their fingertips and share in the positive financial impacts of their decisions. Alongside industry trends, Embold believes that self-insured employers are attempting to balance the need for controlling costs with the desire to give employees high-quality healthcare benefits. The problem is that employers have zero control over the quality of care that employees receive and no meaningful way to measure that quality.
Embold Network Optimizer and Provider Guide
Embold solves this problem with the Network Optimizer by putting data about provider quality into the hands of organizations so they, in turn, can help employees access the highest-performing physicians in their communities. The Network Optimizer is a simple, web-based application that empowers end-users to select top providers based on Embold’s rigorous, validated analytics.
With the Embold Provider Guide, employees have seamless access to high-quality doctors in their communities. Employees can easily search a curated network to find the right doctor for the care they need. In the end, a customized benefit offering can help improve the quality of care employees receive and ensure strong network coverage across the market while achieving cost savings.
Embold for Physicians
Embold offers providers actionable insights into their clinical performance. Physicians receive the information they need to optimize care to continue to pursue their passion for improving the lives of their patients. If providers receive notification that they’re in a network or geographic market where Embold Health has developed performance metrics, they can request an individual performance report.
White Paper — Learn more about Embold’s industry-leading methodology.
Significant clinical variation has long made it difficult for physicians, patients, employers, and health plans to track quality. Echo is excited about Embold’s transparent, objective, and clinically informed approach to measuring physician quality, positioning it well to lower costs and improve outcomes, thereby supporting the move to value-based care.Dusty Lieb, Partner at Echo Health Ventures
About Embold Health
Embold Health is a doctor-led health care analytics company that helps employers identify and guide their members to high-performing doctors, improving patient outcomes and lowering costs. Ratings are based on objective clinical performance data of the individual physician against regional peers and the latest medical care standards. Embold’s vision is to raise health care quality by providing every health care consumer in America with actionable, objective doctor quality metrics to empower them to make smarter health care decisions.
About Echo Health Ventures
Echo Health Ventures drives systemic health care transformation through hands-on, purpose-driven strategic venture capital and growth equity investing. Echo brings together Cambia Health Solutions, Mosaic Health Solutions, and USAble Corporation to accelerate health care innovation on a national scale and support meaningful health care impact.