Switchboard Health, the developer of a tech-enabled, clinically integrated value-based specialty care network and platform, has secured $6.5 million in seed funding to improve specialty care access through its platform and network of value-based care providers.
According to the company’s announcement on Monday, May 13, 2023, it will also use the funding to implement its platform with various health plans and high-value healthcare service providers.
The seed funding round was Led by First Trust Capital Partners, supported by other companies, including founding investor Route 66 Ventures, Capital Eleven, Ikigai Growth Partners, and InnovateHealth Ventures.
Founded in 2022 by Derek Baird to improve specialty care access, affordability, and experience, the company will use the additional funding to further develop its tech-enabled care platform and grow its client base.
The platform software aims to help health plans provide timely access, reduce cost, and improve member satisfaction through a single software, eliminating administrative burdens for payers seeking to enhance their networks.
Switchboard’s platform software has a built-in matching engine that determines specialty-care options for users based on geographic locations, cost, quality, insurance, and other parameters.
The platform incorporates Switchboard Network’s evidence-based virtual care models, including Brightside Health, Heartbeat Health, and Tono Health, accelerating the transition to value-based specialty care contracting.