Investment accelerates team expansion and market growth of specialty agnostic marketplace.
Conduce Health (Conduce), a multi-specialty value-based care marketplace providing turnkey solutions for primary care organizations and specialists, announced today the closing of a $3 million seed round led by Connecticut Innovations with participation from AlleyCorp, CityLight, and other strategic investors. As value-based models continue to focus on the next frontier of specialty care, Conduce's marketplace provides a turnkey solution for primary care organizations managing specialty risk, local specialists, and single-specialty companies seeking to take on higher patient volumes with risk-based economics.
Specialty care and the subsequent management of complex chronic diseases comprise over 60% of medical expenditure in the United States. With a little more than half of the Medicare population seeing five or more specialists annually, Conduce's specialty agnostic approach is designed to support specialists entering value-based care, creating an unprecedented but necessary continuity for patients. Through the application of actuarial and data science, the Conduce Marketplace builds personalized specialty networks that go beyond the artificial categorization of "good doctor and bad doctor", introducing the reality of "good doctor for whom" instead.
"With a seasoned leadership team that CI has backed previously, impressive strategic partnerships, and a differentiated approach and technology, Conduce Health is making great strides in accelerating the transition to value-based care," said Matt Storeygard, Senior Managing Director at Connecticut Innovations. "We look forward to supporting Eric and the team as they continue to innovate and expand their impact, driving significant improvements in patient outcomes and healthcare efficiency."
Co-founded by Eric Rosow, former Co-Founder and CEO of Diameter Health and Premise; Dr. Najib Jai, former specialty care leader at Primary Care VBC organization; and Dr. Jeffrey De Flavio, a co-founder of Pearl Health and founding CEO of Groups Recover Together, Conduce's team has deep value-based care experience.
Conduce was founded as an answer to the struggles of integrating multi-specialty patient care into risk-based models. The primary care provider and specialist ecosystems remain disparate and seemingly disconnected for patients with comorbid chronic diseases requiring multiple specialists. Challenges with hyperlocal healthcare dynamics, complex patient attribution, and an asymmetry in risk tolerance are the pain points Conduce is uniquely positioned to solve.
"We need risk-based specialty networks that scale," said Jeffrey De Flavio, MD, an Entrepreneur in Residence at AlleyCorp. "Conduce's timing is spot on to serve the burgeoning industry need for value-based solutions."
Conduce Clinical Profiles™ categorize patients into personalized, multi-dimensional categories, which in turn unearth profile-specific high-quality specialists. Marketplace technology onboards these specialty providers and Conduce's referral engine embeds streamlined operations within existing PCP workflows. In the face of unsustainable specialty costs and low-quality care, Conduce's singular aim is to ensure patients receive the right specialty care, the first time, every time – all the time.
"We are grateful for the continued support and value of AlleyCorp and we're excited to welcome Connecticut Innovations, CityLight, and other strategic investors to the Conduce Team," said Rosow. "Value-based specialty care affords a larger role for specialists, a sizable savings opportunity for at-risk providers, and, most importantly, will improve the lives of millions of patients. Conduce's marketplace exists to realize that vision. It is becoming increasingly clear that high quality, incentive-aligned multi-specialty networks will be a critical component of the VBC ecosystem."
Conduce's marketplace is now live and supporting patient care in South Carolina and Georgia with ambitions to expand throughout the Southeast. In addition to existing primary care and specialist partnerships, Conduce is looking to rapidly grow its marketplace. Visit http://www.conducehealth.com to explore opportunities for primary care organizations, specialists, and specialty vendors to partner with Conduce and discover how you can join a mission-driven and growing team.
About Conduce Health
Conduce Health is an unprecedented healthcare technology company constructed to be a holistic solution for multi-specialty value-based care. Currently boasting a network of more than 150 specialty physicians, Conduce Health provides a single platform for managing specialty care risk, streamlines contracting and payment processes with specialists, and uses actuarial and data science to identify the right specialist for the right patient, the first time, every time – all the time. For more information about how Conduce can support your specialty care needs, contact info@conducehealth.com
