Switchboard Health, the creator of a high-value specialty care network and software platform, announced it secured $6.5 million in series seed funding. First Trust Capital Partners’ investment led the round, with participation from founding investor Route 66 Ventures, InnovateHealth Ventures, Capital Eleven, and Ikigai Growth Partners.
Switchboard Health created a clinically integrated network that delivers seamless access to value-based specialty care. This funding round supports the continued development of its software platform and advances several implementations with health plans and value-based care providers.
Switchboard is now launching with a new set of health plan clients that want to deliver seamless, convenient, and modern care options to their members. And with Switchboard’s care network, health plans can deploy a single platform to improve member satisfaction, reduce costs, and provide timely access to care. Switchboard’s enabled care will soon be available across ten specialties in a dozen states, drastically reducing the administrative burden for payers looking to enhance their network.
Value-based care providers also seek new technologies to reduce unnecessary medical expenses. And they know that effective management of specialty care referrals can yield cost savings and improve patient satisfaction.
Switchboard’s provider matching engine identifies specialty care options for patients based on location, insurance, cost, quality, etc. And the software also incorporates evidence-based virtual care models from the Switchboard Network, including providers such as Heartbeat Health, Brightside Health, Tono Health, and many more.
KEY QUOTES:
“This investment accelerates our mission to improve specialty care access, affordability, and patient experience. Our team is heartened by our investor support and excited to put this capital into the development of our tech-enabled care network and the success of our growing client base.”
– Derek Baird, Co-founder and CEO of Switchboard Health
“We know that health plans are more focused than ever on specialty care access. We are excited to invest in Switchboard knowing that it can deliver convenient care options that result in meaningful cost and quality improvements.”
– Jon Phillips, managing director of First Trust Capital Partners
“Since the company’s launch, we’ve seen Switchboard drive improvements in specialty care navigation. Now we’re even more excited as the team supports provider groups and health plans in designing and administering value-based agreements.”
– Ben Britt, managing partner at Route 66 Ventures
