- Trainer Rx, a leader in musculoskeletal (MSK) recovery, announced it rebranded to RecoveryOne and the company raised $12 million in funding
Trainer Rx — a company that has been a leader in musculoskeletal (MSK) recovery — announced it has been rebranded to RecoveryOne and the company raised $12 million in funding led by Cigna Ventures with significant participation from existing investor 7wire Ventures and personal participation by members of the management team. This new name reflects the expansion of the company’s focus to align with health plans and value-based health systems that share its objective of enabling their members with the most effective and cost-efficient means of recovery.
With this new name and the new funding round, RecoveryOne is going to strengthen its ability to reach a broader population suffering from MSK conditions. In the past, the company deployed its recovery solutions exclusively through physician practices. And in the past year, RecoveryOne expanded its reach and impact through relationships with health plans and systems.
“Our new brand is a declaration of the goal we share with most healthcare innovators: to improve the cost, quality, and productivity associated with recovery from musculoskeletal conditions, and to do it in a way that puts the consumer in charge,” said RecoveryOne CEO Mark Luck Olson. “It is also a sign of great things to come. We are building on our strong foundation of evidence-based clinical pathways, ubiquitous access to our digital platform, and human connection.”
Currently, musculoskeletal conditions affect about 50% of adults in the U.S. and represent nearly $980 billion in treatment costs and lost wages annually. With the current standard of care, patients often encounter prolonged recovery, unnecessary surgeries, and overuse of pain medications while employers struggle with 264 million lost workdays per year, according to the Bone and Joint Initiative USA report called “By The Numbers: Musculoskeletal Conditions.”
Generally, physical therapy helps, but the historical lack of access to qualified therapists, loss of work hours to attend therapy sessions, limits on covered benefits, and inconsistent monitoring and support of care plans have created formidable barriers to success.
“RecoveryOne addresses not just the body, but also the mind through behavior change support,” added RecoveryOne Chief Product Officer Miriam Beecham. “By helping people find the resilience and motivation to recover and providing them with the proper education, RecoveryOne is creating a future without barriers, allowing recovery to be more effective for any area of the body suffering from a musculoskeletal condition. Our solution combines an easy-to-use app with remote recovery coaches that can be accessed anytime, anywhere, on nearly any device. This will drive greater adherence to recovery plans and ultimately produce faster, higher functioning results. Our members get back out there sooner and employers regain productivity, while the consumer and risk-bearer shares in the financial savings.”
The healthcare organizations with a mission of fostering innovation have invested in RecoveryOne’s plan to roll out its capabilities to a broader audience.
“RecoveryOne’s comprehensive solution aligns perfectly with our mission to be a catalyst for change,” explained Tom Richards, global lead, strategy and business development at Cigna Ventures. “We want to be a driving force behind innovation that makes health care simpler, more affordable and more predictable. RecoveryOne not only shares that vision but with our investment and support, now has the resources to impact wider populations. We are honored to add RecoveryOne to our portfolio.”
Launched in 2014, RecoveryOne serves as a solution to the significant gap between actual and desired outcomes achieved through conventional approaches to rehabilitation from musculoskeletal conditions. And with over 180 clinical care pathways that collectively cover the whole body, RecoveryOne provides personalized programs that combine the convenience of digital therapy and the support of live coaching to reduce costs, accelerate recovery, and drive patient satisfaction.
“It is our strong belief that digital innovation will empower consumers with the tools, technology and information needed to better self-manage MSK conditions improving outcomes and quality of life for those suffering from injury and pain,” commented Robert Garber, partner at 7wire Ventures. “As an early supporter of Trainer Rx, we saw strong potential for its evidence-based protocols to address a critical problem in delivering desired results. We are greatly encouraged by how Mark Luck Olson and his team have developed the strategy to help millions of people through a best-in-class digital solution, while concurrently reducing healthcare costs.”
