Oshi Health – a virtual specialty care company transforming gastrointestinal (GI) health outcomes and economics – announced that it has raised $30 million in Series B funding led by Koch Disruptive Technologies (KDT) and joined by existing investors Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures, CVS Health Ventures and Takeda Digital Ventures.
This funding round will drive the company’s market leadership and momentum as its recent clinical study results are driving accelerated contracting with payers and employers to reimburse access to Oshi Health as a covered benefit. And the rigorous clinical trial of Oshi Health’s differentiated clinical model, conducted by a national health plan in a large commercially insured population, showed 92% of patients report symptom improvement with 98% patient satisfaction. The outcomes are even more significant in conjunction with driving all-cause medical cost savings of $10,292 per patient in just 6 months.
Oshi Health is currently available to more than 20 million people as a preferred in-network virtual gastroenterology clinic for national and regional insurers, as well as their employer customers. And Oshi also partners with community GI practices in a collaborative hybrid model to extend access to care, including reimbursed access to dietary and behavioral therapies proven to improve GI outcomes.
The digestive disorders affect 1 in 4 Americans and have a high economic burden, driving $135 billion in annual costs, a collective impact greater than diabetes, heart disease and mental health. And in traditional GI care, patients lack support between visits and are left on their own to decipher complicated symptoms and coordinate their own care. For many, symptom control remains elusive, and unmanaged digestive symptoms are the number one cause of emergency department treat-and-release visits.
Due to its unique ability to diagnose, prescribe, treat and coordinate care, Oshi Health is able to intercept and change the trajectory of unmanaged symptom escalations and drive the most significant outcomes and cost savings in the industry. And Oshi Health members work with a dedicated integrated team of GI specialists – board-certified gastroenterologists, registered dietitians, GI-specialized mental health clinicians, and nurse practitioners. This high-touch care experience gets to the root causes of chronic digestive symptoms and members come to understand their own dietary and psychological triggers through iterative treatment and response. With Oshi Health, digestive healthcare is convenient and empowering.
This funding round will accelerate the next phase of Oshi’s growth to scale its clinical team nationwide and forge relationships with health plans, employers, channel partners, and provider groups to offer transformational multidisciplinary GI care to the millions of people who urgently need it.
KEY QUOTES:
“We’ve seen the impact of Oshi Health’s unique care model, and we want to be part of helping health plans and employers understand the significant potential of its virtual multidisciplinary digestive care. We are excited to help scale access to Oshi’s best-in-class virtual clinic and proven outcomes which have given them the clear market lead.”
— David Mauney, managing director of Koch Disruptive Technologies
“Our collaboration with Oshi Health will help provide better access to advanced, holistic GI care for our members. Their innovative clinical model and use of technology will help us to improve the quality of care and reduce health care costs for our members.”
— Bill Lamoreaux, Senior Vice President, Network Strategy and Provider Experience, Aetna
“We’ve paved the way for broad access to proven treatments that our traditional healthcare system is not structured or incentivized to provide, while building value for patients, employers, health plans and provider groups. Our investors are collectively funding the change-makers in the most crucial categories of healthcare. They see the transformation opportunity and urgency in digestive care as clearly as we do, and we’re proud to have them back our mission to free millions of Americans from their struggle with digestive symptoms and conditions.”
— Sam Holliday, Oshi Health CEO
“The impact of digestive disorders takes a huge toll on patients, families and their employers. Our employer clients are looking for benefit programs that provide the kind of support and simplicity that delivers results at scale and a great member experience. As part of our Preferred Partner program, Oshi, coupled with our Healthcare Warriors and navigation platform, has allowed us to provide evidence-based medical care, dietary and behavioral health support for members dealing with GI care challenges.”
— Shannon Skaggs, President of Quantum Health
