Healthcare tech startup Accolade announced the launch of its new initiative Accolade Total Care, a healthcare platform that enables employers to direct workers to physicians for appropriate care. The platform offers insights to its members on their health condition based on a combination of tools and human health assistants.
The company has brought on board major corporations including Lowe’s, Comcast and Amerigas as its customers. The product saw the light through the recent acquisition of MD Insider, a machine learning platform.
Based in Los Angeles, MD Insider assesses the health conditions of its users using the data provided by them and suggests appropriate physicians based on their ratings. Launched in 2012, the startup had raised $24 million from investors including Tim Ferriss and Bill Ackman and valued at $36 million following an investment round in 2015.
“The healthcare consumer needs a fundamentally new experience - that’s transparent, efficient, and personalized so they can get precise, high-quality care every time,” quoted Rajeev Singh, CEO of Accolade.
The transparency shown by Accolade with regards to pricing has given it an edge over its competitors. Singh further added that the company going forward, would not only rely on transparent pricing to attract customers but on bringing top-notch doctors to the platform.
MD Insider’s access to data on 13 billion insurance claims is what led Accolade to it. While the terms of the acquisition have not been disclosed yet, it is official that MD Insider won't be operating independently anymore but rather as a subsidiary to Accolade. The majority of MD Insider’s employees will remain seated at its headquarters in Santa Monica.
Singh who joined Accolade in the year 2015, along CPO Mike Hilton has been crucial in the company’s growth. The strategic acquisition of MD Insider will provide a significant boost to increase its product portfolio. The new service is planned to come into effect sometime in early 2020.
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