When consumers think of healthcare, they often think “cost” — the unexpected bills, the never-ending copays, the premiums that rise every year no matter the insurance plan. There’s no question that we’re eager for change. But how we get there isn’t as clear cut.
We believe consumers deserve a better health plan option. That’s why we’re excited to lead the Series A round for Centivo, a next-generation self-funded health plan committed to bending the cost curve for employers and their employees and families.
We first met Ashok Subramanian, founder and CEO of Centivo, back in 2011 in his early days of building Liazon, an online employee benefits marketplace. Bain Capital Ventures invested in Liazon’s Series C round as the company pursued its mission to fundamentally change the way consumers shop for health insurance. Ashok’s deep market knowledge, product acumen and go-to-market expertise led Liazon to massive success and ultimately a great sale to Towers Watson, which now uses Liazon’s technology to power its benefits exchanges and support over 1,000 businesses nationwide.
We’re thrilled to partner with Ashok again for round two, and here’s why we’re backing Centivo:
Primary care is the focus
We believe providers of care should be able to focus on what they do best — keeping people healthy. Centivo brings primary care back to the center, helping members get the preventative support they need to avoid unnecessary and costly illnesses and procedures.
For consumers, this means rewards for good health decisions. Consumers that see their primary care physicians and follow their care plans pay less, no matter what conditions they have. They receive personalized plans to meet their needs and get the best care when and where they need it.
Consumers, providers and employers win
Rarely does a company make everyone it touches happy; yet Centivo does just that.
Consumers enjoy access to the best providers in their markets at lower costs, and they don’t sacrifice on quality or service levels. Providers get paid to deliver outcomes by sharing savings with Centivo, giving them flexibility to spend the right amount of time with the right patients. Finally, employers save money while keeping their employees happy. It’s a true win-win-win that we believe will greatly empower the millions of Americans who struggle to pay their healthcare bills.
Market-leading technology that ensures high-value care
Through partnerships and internal expertise, Centivo is crafting the best member experience in the market — from ease of scheduling to payments that make sense. Additionally, key stakeholders will be able to better collaborate and share learnings, further bending the cost curve in ways others in the market cannot.
We’re thrilled to once again be partnering with this exceptional team to deliver cost-effective, sustainable healthcare for all.