What's Happening?
Thyme Care, a value-based cancer care navigation company, has successfully raised $97 million in series D funding. This round was backed by major strategic investors including CVS Health, Humana, Morgan Health, and Memorial Hermann Health System. The funding will be used to expand Thyme Care's business across various verticals and address key issues in the oncology journey, such as treatment denials and high drug costs. The company plans to enhance its technology and AI capabilities to improve care delivery and scale partnerships with health plans and employers. Thyme Care aims to provide comprehensive support throughout the cancer journey, from diagnosis to post-treatment, and has rapidly grown its patient base from 10,000 to 80,000 actively treated cancer patients.
Why It's Important?
The investment in Thyme Care highlights the growing emphasis on value-based care models in the healthcare industry, particularly in oncology. Cancer is a significant driver of healthcare costs in the U.S., amounting to over $200 billion annually. Thyme Care's approach, which includes early intervention and symptom management, has demonstrated cost savings by reducing emergency room visits and hospital admissions. The company's expansion and partnerships with major healthcare players and employers indicate a shift towards more integrated and personalized cancer care solutions. This development could lead to improved patient outcomes and reduced healthcare costs, benefiting both patients and providers.
What's Next?
Thyme Care plans to continue scaling its operations and expanding its partnerships with national and local health plans. The company is focused on hiring tech leaders to advance its AI platform strategy and develop more member-facing apps and tech solutions. Thyme Care is also increasing its collaboration with employers to provide virtual care navigation services to their employees. As the company grows, it aims to serve as a model for scalable, accountable cancer care and contribute to the broader adoption of value-based care in the healthcare industry.
Beyond the Headlines
Thyme Care's approach not only impacts cost savings but also enhances the patient experience. Members report high levels of satisfaction and engagement, with 90% feeling more supported by their care team. The company's integration with oncology practices helps reduce administrative burdens, saving significant staff time. As Thyme Care expands its employer segment, it addresses the need for high-quality cancer care in employer-sponsored insurance, aligning with the mission to scale specialist-led, value-based care for complex conditions.
