How Forward Health Works
Forward Health is a startup that is looking to replace the need for primary care health insurance by offering its own doctors, technology, and locations. Instead of paying for health insurance every month, customers of the healthcare company instead pay a monthly fee that would cover basic primary care directly from Forward Health. One of the largest differences with this approach is that the startup offers its monthly membership at only a flat fee instead of charging patients for any tests or care.
The healthcare startup can work on this business model due to focusing the care heavily on preventative measures, offering more comprehensive screenings and coverage in this area to help reduce the risk of more expensive treatments down the line.
In fact, the startup offers all basic primary care options but also includes virtual visits, a 24/7 hotline, instant blood results, as well as a series of preventative screenings. These screenings offered by the company include skin cancer screenings, genetic testing, heart monitoring, nutrition plans, mental health checkups, and other doctor-led programs.
Forward Health’s preventative-first business approach has proven to be incredibly successful already with the healthcare company expanding to operate business locations in several cities across the United States (US), including San Francisco, New York City, Los Angeles, Chicago, and Washington DC.
Forward Health’s Funding and Future Plans
In Forward Health’s Series D funding round, the company raised a whopping $225 million. The startup raised this money from a variety of investors including Founders Fund, Khosla Ventures, SoftBank, and musician The Weeknd. The company plans to use this new funding in order to expand its business operations across the US. There are also plans by the company to improve and add additional features to the virtual side of its business in order to offer more comprehensive care outside of the physical locations.
While the healthcare company continues to scale up, it will mainly focus on finding areas of preventative care that overlap in several different categories to reduce business costs as best as possible while growing. Forward Health will further their own development through reinvesting in the technology which has brought them this far.
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.