Endear Health Announces $4M in Seed Funding, Led by 8VC, Appoints Former Aetna Medicare Chief Medical Officer to Advisory Board
SAN FRANCISCO, Jan. 10, 2022 /PRNewswire/ -- Endear Health, the first digital engagement platform built for the rapidly evolving value-based landscape, announced it has successfully closed an oversubscribed $4M seed funding round led by 8VC with participation by GreatPoint Ventures and additional Angel Investors. Endear Health concurrently announced the appointment of Dr. Robert Mirsky to its Advisory Board to provide guidance as Endear Health expands to additional health plans and provider groups around the country.
"With the proliferation of next-generation Medicare Advantage plans, incumbents are facing greater pressure than ever to improve their consumer experience or risk getting left behind," said Sebastian Caliri, principal at 8VC, "We believe Endear Health is well positioned to capitalize on this opportunity and empower seniors to navigate their benefits and access high quality care."
Endear Health transforms how value-based entities engage with innovative digital health programs
Through recent regulatory and legislative action, Medicare Advantage plans now have greater flexibility to offer a number of previously uncovered supplemental benefits. Plans offer these benefits — including meal provision, transportation, in-home support services, and more — through a combination of disparate platforms, which place the onus on the member to access and utilize the most applicable benefit at the appropriate moment. This fragmented benefit structure drives member confusion, low program engagement, and a high degree of administrative cost and burden.
With Endear Health, organizations can offer members a comprehensive and intuitive platform, purposefully designed for seniors, which integrates educational resources, core benefits and supplemental benefits into a single location. Additionally, through a marketplace of scalable integrations with third-party digital health vendors, Endear Health empowers payors to quickly deploy innovative programs in an efficient manner.
This initial funding round allows Endear Health to deliver on its early commercial commitments and scale its team to meet the growing needs of value-based care focused health plans and providers, while enabling continuous innovation in the digital health space.
Endear Health welcomes Dr. Bob Mirsky to its growing advisory board
In addition to closing its funding round, Endear Health also welcomes Dr. Bob Mirsky to its advisory board. Dr. Mirsky brings over 35 years of healthcare experience, most recently serving as Chief Medical Officer and Vice President Medical Operations, Aetna Medicare. Previously, Bob held leadership roles as CMO for North Shore-LIJ Insurance Company, as CMO for the Mid-Atlantic Region of Coventry Health Care, as CMO Gateway Health Plan in Pittsburgh, as Senior MD Blue Cross Blue Shield of Florida, and as CMO Tenet Health System Florida.
Bob has seen firsthand the challenges facing seniors as they attempt to navigate an increasingly digital world, both from his time practicing family medicine and serving Medicare members at Aetna.
"While the array of digital solutions and core and supplemental benefits has grown exponentially, so has the complexity of understanding and accessing those offerings," said Dr. Mirsky. "By partnering with health plans, Endear Health endeavors to simplify the process for members thereby unlocking the value to improve outcomes and quality of life. I am excited to join the Endear Health team to help bring this vision to reality."
The Leadership team at Endear Health, including co-founders Chris Boudreaux and Michael Chappelear, could not be more excited to welcome Dr. Mirsky to the team.
About Endear Health
Endear Health, the first digital engagement platform built for the rapidly evolving value-based landscape, is on a mission to fundamentally improve the Medicare experience. Founded in 2021 and backed by 8VC and GreatPoint Ventures, Endear Health is focused on reducing the hurdles seniors face while navigating an increasingly digital world through development of innovative consumer-centric engagement solutions. Endear Health believes that seniors who are accustomed to receiving assistance and care across nearly all facets of their daily lives should receive that same high level of support when it comes to how they access healthcare.
For more information, visit: endearhealth.com
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SOURCE Endear Health
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