Summary List Placement
The digital health boom saturating the employer benefits market is leading to more partnerships among some of the industry’s top startups.
Carrum, a surgical cost-bundling startup that sells to large companies, is partnering with physical therapy clinical startup Hinge Health to offer a one-stop-shop benefit for companies the startups sell to, the companies told Insider.
Carrum works with providers to set fixed prices on surgeries for companies’ employees. That way, if there’s a complication, the employer doesn’t pay. But Sachin Jain, Carrum’s founder and CEO, said that customers were looking for more.
Now they’ll have access to Hinge services as part of their Carrum membership. The same is true of Hinge customers, who will only have access to Carrum’s surgery bundling tools for members whose knee or back pain require surgery. It’ll work by adding amendments to the employer contracts that essentially save them money for the combined solution as opposed to paying for both of the programs separately, Jain said.
The goal, he said, is to give employers a single portal in which they can manage a highly specific healthcare benefit instead of tacking on more and more offerings that can only offer to help with part of the recovery process. It also means that both Hinge and Carrum have access to even more customers than each would have had they continued to operate entirely independently.
“There is a desire for more integrated offers now in the post-digital health boom,” Jain said.
The digital health boom saw a record amount of private financing and a flurry of public debuts, but now the industry is evaluating whether a glut of startups will outpace customer interest. SPAC IPOs, for example, have stalled as interest waned, and investors have previously told Insider that consolidation is likely throughout the second …read more
Source:: Business Insider