Thyme Care, a leading innovator in value-based cancer care, has completed a $97 million Series D funding round. This funding demonstrates strong confidence from both existing and new strategic partners, bringing Thyme Care’s total capital raised to $275 million. The continued support from current investors, including CVS Health Ventures, Foresite Capital, a16z Bio + Health, Concord Health Partners, Town Hall Ventures, AlleyCorp, and Frist Cressey Ventures, highlights the established success and future potential of Thyme Care’s approach. This round also saw the addition of key strategic investors, including Morgan Health, a division of JPMorganChase dedicated to employer-sponsored healthcare, along with Humana, Texas Oncology, and Memorial Hermann Health System, further solidifying Thyme Care’s position within the healthcare landscape.
Since its launch in 2020, Thyme Care has rapidly evolved from a promising concept into a recognized market leader. Their success stems from building an integrated oncology infrastructure designed to streamline processes and reduce challenges within the complex healthcare system.
By working closely with payers, Thyme Care ensures that providing the best possible care for patients is also financially sustainable for the entire system, aligning incentives for everyone involved. They collaborate with over 1,000 oncologists nationwide, actively working to reduce the administrative burden on these vital healthcare professionals. This allows oncologists to focus more on patient care and less on paperwork. Thyme Care also helps guide choices towards higher-value medications, strengthens the collaboration between different medical teams, and thoughtfully incorporates crucial services such as palliative care and survivorship support directly into its model.
For individuals navigating a cancer diagnosis, this comprehensive approach effectively addresses the many gaps and difficulties they often encounter daily. The result is earlier interventions, fewer frustrating delays, and consistent support throughout their entire cancer journey. These fundamental elements, powered by their specialized technology and highly skilled care teams, enable quicker actions and deeper engagement, positioning Thyme Care as a crucial foundation for a more connected and scalable system of oncology care.
Thyme Care’s positive influence is clearly visible in the significant changes they are bringing about across various aspects of the healthcare system, including reducing costs, enhancing the patient experience, and improving the efficiency of healthcare providers.
One of the most profound impacts is in creating a more connected and compassionate cancer journey for patients. Approximately 90% of Thyme Care members have reported feeling more supported by their dedicated team of doctors, nurses, oncology social workers, and care partners. This strong sense of connection ensures that no one feels isolated as they face their cancer journey. This established trust encourages a remarkable 72% of members to proactively share updates through electronic patient-reported outcome surveys, which is nearly double the industry average. This consistent communication allows for faster interventions and ultimately leads to more connected and caring support.
Thyme Care also plays a crucial role in helping patients avoid costly and often preventable complications. Many hospital visits for individuals with cancer originate from symptoms like pain or nausea that could actually be safely managed at home with timely and appropriate support. By stepping in earlier, Thyme Care helps patients save valuable time, energy, and money, while simultaneously allowing healthcare providers to concentrate on delivering the most essential and impactful care. Remarkably, members who regularly completed the electronic patient-reported outcome surveys were 40% less likely to visit the emergency room and experienced a 19% reduction in hospital admissions, demonstrating the tangible benefits of early intervention.
Thyme Care significantly reduces the burden on healthcare providers. Oncology practices often face increasing patient volumes and a growing number of administrative tasks, which unfortunately pull providers away from directly caring for their patients. Thyme Care alleviates this pressure by taking on many of the time-consuming administrative duties and care coordination responsibilities. This frees up the valuable time and capacity of healthcare professionals, enabling them to focus fully on providing direct patient care. As an example of this impact, one Thyme Care Oncology Partner practice reported saving nearly 2,000 hours of staff time in just one year.
KEY QUOTES:
“This raise is overwhelmingly backed by strategic investors across the oncology care delivery landscape, including payers, providers, employers, and health systems who deeply understand the complex needs of oncology populations and who see firsthand the impact of Thyme Care’s model. This is evidence that oncology can lead the way in building scalable models of shared accountability and impact that healthcare has long needed.”
Thyme Care President and Chief Operating Officer Brad Diephuis, MD
“The system was not designed for people with cancer, and too often patients fall through the cracks. My co-founder, Dr. Bobby Green, and I have seen this from the inside out for decades. We’ve witnessed it at the bedside in community practices and in building national infrastructures at Flatiron Health and OneOncology, and we founded Thyme Care to change it. Our next chapter is about scaling what works while exploring new ways to tackle the barriers that still make cancer care harder than it needs to be.”
Thyme Care Chief Executive Officer and Co-Founder Robin Shah
“Employers increasingly identify cancer as a top driver of their health care spend. At the same time, they care deeply about offering their employees access to high-quality, personalized cancer care – given the heavy burden that a diagnosis places on patients and their families. Thyme Care can balance these needs and is already making early progress with Fortune 500 companies. They’ve demonstrated better coordination of patient care, improved outcomes and reduced costs. This approach aligns directly with our mission to scale specialist-led, value-based care for complex conditions in employer-sponsored insurance.”
Dan Mendelson, CEO of Morgan Health
“We continue to invest in Thyme Care because of the meaningful impact their model has on improving the lives of people with cancer. Through their technology, partnerships, and national scale, we’ve seen how Thyme Care can help deliver more coordinated interventions and a care experience that feels more connected, human, and affordable.”
Vijay Patel, managing partner, CVS Health Ventures
