How Crossover Health Works and Ongoing Success
Crossover Health is a healthcare startup company that focuses specifically on providing a high-quality, less expensive option for business owners to utilize for their own employees. Using a combination of virtual and tech-based solutions along with physical health centers, the startup has proven itself to be a reliable healthcare option for companies of all sizes.
The approach taken by the startup company appears to be working incredibly well on top of this. For companies and businesses who choose Crossover Health, highly engaged users can save up to 30% compared to more traditional healthcare services. While the savings may be great, the effectiveness of treatment and care also improves.
In fact, access to care can be up to four times faster than other healthcare companies, with less need for referrals to more expensive specialists. Another major point for Crossover Health is the quality of its mental health department, with over 50% of visits resulting in the same or better outcomes for users.
The popularity of the services has resulted in significant business success for the company as well. Since its founding in 2010, Crossover Health has now grown to cover over 400,000 employees in businesses all over the US. The company’s national network now offers online care in all 50 states, with 48 in-person health centers being concentrated in 11 states.
Crossover Health’s Funding and Future Plans
In Crossover Health’s Series D funding round, the company raised a whopping $168 million. The funding round was led by Deerfield Management with participation from Perceptive Advisors, OrbiMed Advisors, Foresite Capital, Avidity Partners, SharesPost100 Fund, Irving Investors, and PFM Health Sciences, among others. This funding will largely go toward the startup’s planned expansion of its national network of virtual health services, the Connected System of Health. This effort should help the company further build its business and scale up in order to properly take on more companies.
When commenting on the recent funding round, founder and CEO of Crossover Health Scott Shreeve, MD said, “Today's financing signifies confidence in our vision and ability to address the evolving healthcare needs of self-insured employers and traditional payers who are looking for more care delivery accountability that achieves lower cost, higher quality, and a consistently exceptional experience for their employees and members.”
Shreeve went on to further add about the business, “We have always been driven by a clear and compelling vision for how healthcare should be - comprehensive, simple, and above all, engaging. We achieve this with a value-based approach that includes team-based primary care, physical medicine, mental health, and care navigation as part of our in-person and online Primary Health service.”
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.