Harvard Health Tech Startup Raises Strategic Capital to Expand Risk-Based Contracting
Summary
BOSTON--(BUSINESS WIRE)--Boston-based start up, Vincere Health, has raised a customer-led strategic funding round of $1.75m. The funding opportunity was driven by Inception Health, the innovation arm of the Froedtert & the Medical College in Wisconsin (MCW) health network, with participation by BrightEdge, the impact investment and venture capital arm of the American Cancer Society, and participation from existing specialist healthcare investors including SixThirty Ventures, Flare Capital, and Trevor Fetter.Vincere has built an expertise in activating, engaging and driving objectively measurable outcomes in smoking cessation among some of the hardest to reach populations in US healthcare - individuals who are low income, in remote rural settings, and across diverse minority population groups. Among this population, using their unique financial incentive, remote monitoring and data analytic tools which complement human clinical care, they have achieved compliance rates in excess of 62% and quit rates in excess of 40% for complex populations.What was particularly appealing to the Froedtert & MCW health network, as a customer, and BrightEdge, is Vinceres ability to put full fees at risk based on objectively measured outcomes and stringent performance guarantees around patient engagement. Vincere is thus a pioneer in accountability and value based care for specific verticals of care to drive important preventive health outcomes - particularly among those who need the most help.Were particularly excited about Vinceres work in advancing health equity and expanding novel smoking-cessation services to underserved communities, said Alice Pomponio, managing director of BrightEdge, which invests in early-stage companies developing cancer-focused therapies, diagnostics, devices and technologies that accelerate ACSs mission. Vincere combines clinical support with real-time incentives based on the latest behavioral science to give health plans 2-way SMS and calls, integrated clinicians and bots, automated nudges, digital financial rewards, remote monitoring, and more.