Crossover Health receives $168 million to expand primary care services for businesses and insurance programs.

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In the beginning, Crossover Health was founded by a hard-working ER physician who wondered why and how people ended up in the hospital.

The healthcare industry’s traditional thinking was challenged in 2010 when he joined forces with two visionaries.

Ultimately, they hoped to improve the health of our nation’s population by examining how changes to the system’s cost structure and distribution of care may have a positive effect.

From the ground up, our founders set out to find a better solution for how people may receive access to primary healthcare.

The goal is to instill in people the conviction that health care should begin long before they are ill. That’s why it’s so essential to maintain a healthy lifestyle.

As a result, it couldn’t be just another app or catchphrase, and it had to be a radical shift in how people were cared for.

For this reason, the healthcare system has to be designed with the patient in mind, rather than the other way around.

Crossover Health’s goal is to provide member-centered primary care. Be healthy, do well, and enjoy your time here on Earth.

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Crossover Health receives $168 million to expand primary care services for businesses and insurance programs.

To reach self-insured organizations and payers across the country, Crossover Health, a tech-enabled primary care organization, raised $168 million in fresh capital.

Deerfield Management Company led the oversubscribed series D funding round. Foresite Capital, Avidity Partners, SharesPost100 Fund, Irving Investors, and PFM Health Sciences are among the other new investors.

It was recently announced that the San Clemente, California-based startup was extending its cooperation with Amazon to create “community health clinics” in Detroit and two California metro regions, making headlines.

Within five key locations, including Dallas-Fort Worth, Phoenix, and Louisville, Amazon has already opened employee health clinics to benefit Amazon workers and their families.

Crunchbase reports that the firm has raised $281 million to far.

Founder and CEO Scott Shreeve, M.D., told Fierce Healthcare that Crossover Health wants to utilize the fresh cash to launch its new commercial benefit programs for payers.

According to Shreeve, the new funds will be used to expand the company’s proprietary member engagement technology, build out its data analytics infrastructure and health outcomes reporting capabilities, and add confirmation centers to support its expanding in-person and online hybrid primary health service for employers.

To decrease healthcare expenses for self-funded enterprises, Crossover was established in 2010. An early coup was when it partnered with Apple to provide staff clinics.

Comcast, Visa, and LinkedIn are just a few firms on the company’s portfolio.

The startup now serves more than 400,000 qualified workers and their families. In addition to providing online health care in all 50 states, Crossover’s software platform, dubbed Connected System of Health, offers in-person treatment in 48 health facilities in 11 states.

Employees, their families, and their neighbors may use these health clinics either on or near their employer’s campuses or in the communities where they reside.

“Today’s funding shows trust in our vision and ability to serve the increasing healthcare demands of self-insured companies and conventional payers who are searching for greater care delivery accountability that delivers lower cost, improved quality, and a consistently excellent experience for their workers and members,” Shreeve said in a statement.

“We have always been motivated by a clear and compelling vision for how healthcare should be—comprehensive, easy, and most importantly, engaging.

As part of our in-person and online primary health service, we use a value-based strategy that incorporates team-based primary care as well as physical medicine, mental health, and care navigation “Those were Shreeve’s words.

The partner at Deerfield Management, Adam Grossman, noted that Crossover Health had established a comprehensive and well-coordinated integrated health care system for the company’s employers.

In a statement, Grossman noted that the Crossover team’s “commitment to supporting health technology, care services, and novel reimbursement methods that have helped alter the sector aligns.”

Earlier this year, the business purchased Sherpaa, a virtual primary healthcare startup providing care navigation and management services.

The $260 billion primary care sector is being shaken up by a slew of healthcare companies, one of which is Crossover Health. One Medical, Advantia Health, Oak Street, Privia Health, and Advantia Health are some other players in the market.

Crossover Health’s legal guidance was provided by Latham & Watkins LLP, with assistance from Goldman Sachs & Co. LLC, serving as the sole placement agent.

FAQs

Do I need to get a new insurance plan?

No. Your Crossover membership is an addition to your current health insurance, not a substitute. Crossover’s Medical Group does not cover all your health care needs, and your health insurance plan provides financial protection in an emergency or catastrophic illness.

During your Crossover membership, we strongly advise you to keep your health insurance up to date and sufficient.

Does Crossover accept health insurance?

We work directly with your employer and insurance to fund your yearly membership fee and the care services offered by Crossover for members who have access to Crossover via an employer-sponsored benefit.

As a courtesy, we will charge you for your visit expenses, if any, or for any services not covered by your membership (such as specialized lab work or enhanced care services, like acupuncture or eye care).

If you are a self-paying member, we cannot take your insurance. All members’ lab work and in-person referrals will be invoiced following their health insurance policy’s specifications.

The Crossover team will connect you with an in-network provider for your health insurance plan if we recommend you to a physician outside of what Crossover provides.

Is there a medical staff at Crossover?

Yes. We employ only board-certified, state-licensed physicians and other healthcare professionals to offer the best possible treatment.

The primary care team (doctor and nurse), physical therapy, mental health, nutrition, exercise, and care coordination are all part of your Crossover membership.

When compared to other telemedicine services, what makes Crossover unique?

Most telemedicine services give you a different doctor every time you visit, making it impossible to have meaningful discussions about your continuing medical care.

By using Crossover as your primary care network, you’ll always have access to the same primary care provider in addition to your regular mental health and physical therapy providers.

Our goal at Crossover is to help you feel better, answer your concerns regarding your treatment and encourage a healthy lifestyle on a regular basis.

Because of the long-term connections fostered by the Crossover care approach, improved health outcomes may be achieved.

Does my membership in Crossover include virtual or in-person care? 

Both. You may use the patient portal to send messages back and forth or book video sessions whenever you need to communicate with your healthcare team.

There is an option for in-person visits if you live close to one of our shared health facilities or your company provides access to a private, on-campus facility.

As soon as the need for in-person care arises, your Crossover Care Navigator will assist you in scheduling in-person appointments with in-community physicians and making arrangements for any necessary tests or lab work.

To whom and what does a Crossover membership provide access?

For people over 18, Crossover is accessible either as a paid membership or an employee perk. Go to “What you receive” to learn more about the benefits of joining Crossover.

Is there a Crossover business membership option?

Yes. Some of our clients have a workforce spread throughout the United States.

One of the most popular employee benefits, our approach has been consistently ranked at 93% member satisfaction and decreased healthcare expenditures.

Call or email us if you have questions about how Crossover Health might help your company.

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