Sammy Faycurry, driven by his family’s firsthand experiences and a vision to address the pervasive issue of poor dietary habits in America, has launched Fay, a groundbreaking platform aimed at transforming nutritional counseling. Drawing upon his mother and sister’s insights as registered dietitians (RDs), Faycurry embarked on a mission to empower RDs to establish independent practices while ensuring coverage by insurance providers.
The inception of Fay traces back to Faycurry’s tenure as an MBA student at Harvard Business School in 2021. Recognizing the dearth of in-network registered dietitians despite the widespread prevalence of chronic conditions linked to unhealthy diets, Faycurry set out to bridge this gap with a pioneering solution.
Fay, which emerged from stealth on Wednesday, has quietly secured a remarkable $25 million in funding from prominent investors, including General Catalyst, Forerunner Ventures, 1984, and the founders of Grow Therapy and Maven Clinic. This significant infusion of capital underscores the market’s recognition of Fay’s transformative potential within the healthcare landscape.
At the core of Fay’s model lies a franchise approach that has gained traction among various healthcare providers. Dubbed a “business-in-box,” this model equips practitioners, including dietitians and therapists, with the essential tools for operating their practices seamlessly. From filing insurance claims to facilitating payments and connecting with patients, Fay empowers RDs to deliver personalized and effective nutritional counseling.
Faycurry elucidates the platform’s value proposition, emphasizing its benefits for both insurance providers and practitioners. Insurance companies stand to gain from improved patient health outcomes, while RDs can significantly augment their earnings as independent practitioners through Fay’s platform.
Fay has swiftly garnered momentum, boasting a roster of 1,000 RDs on its platform. Moreover, the platform has secured partnerships with major insurance providers such as Anthem, UnitedHealthcare, Aetna CVS, Blue Cross, Cigna, Optum, and Humana, offering individuals the opportunity to access nutritional counseling services at the price of a standard co-payment.
A notable trend observed among Fay’s patient demographic is the prevalence of individuals prescribed GLP-1 medicines like Ozempic for weight loss. Faycurry highlights the crucial role of dietitians in complementing medication regimens with healthy lifestyle habits, thereby enhancing overall health outcomes.
Looking ahead, Fay plans to expand its offerings to include food provision for patients, signaling its commitment to holistic wellness solutions. Nicole Johnson, a partner at Forerunner Ventures, commends Fay’s rapid growth trajectory and prudent capital management, underscoring the platform’s potential for future expansion and innovation.
