Zing Health – a leading Medicare Advantage insurer – announced it has raised an incremental $140 million in a funding round. Leading venture investors Health 2047 Capital Partners, CRG, and First Trust Capital Partners participated along with existing investors Newlight Partners, Town Hall Ventures, Health 2047, and Leavitt Equity Partners.
Zing Health plans to use the proceeds to help bring its integrated, chronic special needs focused plans to more beneficiaries, and continue to invest in integrating its member experience with high quality care providers.
Zing Health was launched in 2019 by Dr. Eric Whitaker and healthcare executive Garfield Collins—along with Health 2047, the innovation lab of the American Medical Association—to address and improve healthcare outcomes in populations underserved by traditional plan providers.
Plus, Zing Health offers managed care Medicare Advantage plans with supplemental benefits and access to care through a broad network of premier provider partners whose goals align with beneficiaries’ healthcare outcomes. Since the start of 2023, Zing Health has been one of the fastest-growing Medicare Advantage companies in the country, and that growth has seen a majority of members select tailored Chronic Special Needs Plans.
Even though there has been a high prevalence of chronic conditions in seniors across the US, most of the Medicare Advantage plans are not built for these individuals, with a very small percentage of Medicare beneficiaries being enrolled in a Chronic Special Needs Plan (CSNP), according to an analysis by KFF. So, seniors are often not enrolled in Medicare plans optimized to provide the necessary drug and specialist access to drive the best outcomes for their chronic conditions. Zing offers plans that cater to member’s specific health needs and drives engagement with doctors and specialists aligned to keep members healthy.
KEY QUOTES:
“Medicare Advantage is a superior program that can provide enhanced outcomes for seniors. However, the industry today does not do enough to tailor plans and member experience to individuals’ needs. Through the delivery of CSNP plans to underserved seniors, we are providing the appropriate benefits to improve health outcomes and leveraging technology to ensure members receive high quality, value-based care through a seamless member experience. We are grateful to have the support of our new and existing investors, whose commitment and trust underscore the excitement in and stability of the business.”
-Andrew Clifton, CEO of Zing Health
“From inception, Zing has focused on caring for seniors and bringing them to the best comprehensive, personalized care. Under Andrew’s leadership, the company has shown that the model can not only serve many more seniors, but also continue to improve on delivering towards this demanding responsibility to our members. We are excited to continue to support the development of this powerful platform and its innovative and collaborative approach to managed care.”
-Srdjan Vukovic, Partner at Newlight Partners
