Soda Health Launches, Bringing New Technology for Health Care Payments
Summary
“We accomplish that by making the health care transaction and experience more like retail purchases using debit cards.” Knight is joined by co-founders Daryl Risinger, Jared Dauman and Chris Brown. “Sustained engagement is critical to identifying and eliminating health inequities.” said Lynne Chou O’Keefe, Founder and Managing Partner of DefineVentures. “Define Ventures is confident in Soda Health’s approach to reduce customer friction, increase utilization and engagement and ultimately define healthcare.” “We need practical solutions that address health inequities, this is an area where all stakeholders across the healthcare system are aligned,” saidLing Wong, Senior Advisor with Lightspeed Venture Partners. At Lightspeed we believe Robby and the team at Soda Health have the passion, experience and insights to deliver on their mission to improve healthcare.” The addressable market opportunity to support these types of transactions continues to rapidly increase as illustrated by the nearly 20 million Medicare Advantage beneficiaries with supplemental benefits which cover the purchase of over-the-counter medications and other wellness items. Knight concluded, “Until now, the healthcare industry has relied on legacy payments technologies which have left both health plans and consumers with a less than optimal solution.