Ford Health – a platform purpose-built to support the unique needs of value-based primary care – recently announced an additional $6 million in funding from Iron Pillar and global angel investors. This funding round comes on the heels of the company’s raise in 2022 and will be used to continue scaling Fold’s platform and to hire talent.
Even though there has been a rapid shift to value-based care payment arrangements, existing solutions fail to support the needs required for success in outcome-based payment models: data-driven, consumer-centered, prevention-focused care. And as a result, many primary care providers have resorted to investing in disjointed point solutions or building out their tech suite, which takes valuable time away from treating patients.
The company’s platform is the first end-to-end solution that integrates with electronic health records. Fold’s highly flexible platform allows customers to use modular tools to support their unique needs and optimize existing technology investments. Eliminating providers’ need to build software solutions from the ground up, Fold Health enables advanced primary care groups to achieve 3x tech-related cost savings.
Fold Health’s Platform offers an integrated suite of capabilities, including:
— ClinOps Efficiency Engine – A workflow engine that automates 60% of the work required to succeed in value-based care – including care gap closure, transitional care management, annual wellness visit completion, high-risk patient engagement, and attribution growth and protection.
— Care Team Enablement Suite – Unifies patient data, task management, omnichannel communications, and scheduling to coordinate complex collaborative care teams tightly.
— Patient Enablement Suite – A fully white-labeled patient web and app experience that allows patients to conveniently work with their care team, including self-scheduling, chart access, notifications management, and wearables/RPM data integration.
Fold Health continues to scale operations, opening an R&D office in Pune, India in 2023. And the company is also looking to expand rapidly its headcount across the US.
KEY QUOTES:
“Amid staff burnout, physician shortages, and disjointed point solution ecosystem, the primary care sector is striving to navigate the significant shift from volume to value-based care. Fold Health is committed to empowering practices, supercharging existing technology, and dramatically improving patient outcomes.”
— Abhijit Gupta, Co-founder and CEO of Fold Health
“We’re thrilled to back Fold Health, a true innovator in digital health. The Iron Pillar team has known Fold’s founders for years. Abhi and Ram are seasoned entrepreneurs with a profound understanding of the challenges that primary care is grappling with in transitioning to value-based care. Their domain expertise, combined with a massive US healthcare market ready for disruption, a unique built-from-scratch VBC technology stack and strong endorsement by their early customers and prospects got the Iron Pillar team excited about backing Fold.”
— Mohanjit Jolly, Partner at Iron Pillar
