- Cohere Health — a software company on a mission to significantly improve the experience of patients, providers, and health plans — announced that it raised $10 million
Cohere Health — a software company on a mission to significantly improve the experience of patients, providers, and health plans — announced the launch of the company with the mission of aligning the relationship between physicians and health plans around the care journey in a way that is appropriate for each patient. And Cohere Health also announced that it raised a $10 million Series A round of funding led by Flare Capital Partners with Define Ventures as an investor and partner as well as participation from an additional leading national strategic partner.
By utilizing its innovative technology platform that encourages transparent and high-value care alignment across an entire patient journey instead of individual service transactions, Cohere Health aims to improve the quality of care delivered, a lower total cost of care, and transform the patient and physician experience.
Cohere’s platform replaces the existing patchwork of legacy, siloed processes, and antiquated technologies that contribute to enormous administrative burden for physicians and health plans. And it further facilitates the transition from fee-based services to value-based arrangements by providing an evolutionary path that can support all payment arrangements while reducing unnecessary variation in clinical outcomes.
Cohere Health also assembled an impressive team of proven leaders, including Gary Gottlieb, MD, former CEO of Partners Healthcare (now MassGeneral Brigham) as Chairperson of the Board of Directors.
“As a physician, it’s clear to me that the administrative complexity of the current system gets in the way of delivering the care that patients deserve, that physicians want to provide, and that health plans want for their members. If we’re going to realize the promise of value-based care, we need an approach that is based on all available evidence, shared expectations, and transparency.”
— Gary Gottlieb, MD, former CEO of Partners Healthcare (now MassGeneral Brigham) / Chairperson of the Board of Directors
“The current system is resource-intensive, unwieldy and creates a frustrating experience for patients, physicians, and health plans. There’s no reason it should be so miserable for everyone involved. We have the evidence-based clinical algorithms, human-centered design, and innovative technology to improve the system dramatically.”
— Siva Namasivayam, CEO of Cohere Health. Namasivayam — who has more than 20 years of experience working on transformational healthcare businesses — was previously the CEO/Founder of SCIO Health Analytics.
“The flaws of the current healthcare system have been exposed further with the COVID-19 crisis,” he said. “We believe that transformational technology and analytics need to be applied to ensure patients get necessary care and make the system a win-win-win for physicians, health plans, and above all patients. With the experienced and dynamic team that Cohere has assembled, I can’t wait to see how they will transform the business of medicine into a system that’s better for everyone.”
— Michael A. Greeley, General Partner at Flare Capital who led the Series A round