Funding to Advance Wellframe’s Mission to Transform Care Management
BOSTON–(BUSINESS WIRE)–July 12, 2017–
Wellframe, a leading mobile-enabled care management solution provider, today announced the organization’s Series B round of financing, led by F-Prime Capital, with participation from existing investors including DFJ, who led the company’s A round. Carl Byers, Executive Partner at F-Prime, will join the Wellframe board of directors. This round brings total funds raised by the company to $25 million.
“Wellframe is poised to revolutionize care management as we know it. They’ve assembled a top-tier team dedicated to executing on a new vision for the improved delivery of clinical services and patient engagement,” said Byers. “There’s an untapped market opportunity here, as most healthcare organizations strive to realize the full potential of care management. Wellframe is demonstrating significant impact on healthcare cost and quality outcomes for their clients, and we are pleased to be working with them to build on this strong foundation to set a new standard for patient support.”
“We are thrilled to have Carl join our board to support Wellframe in the next phase of our growth,” said Jacob Sattelmair, Wellframe CEO. “With this financing, we’re well positioned to respond to growing market demand, while further expanding the scope of what we offer as a partner. The learnings and success we’ve achieved with our partners has informed a broader, bolder vision to transform care management and set a new standard for how healthcare organizations provide support to patients outside of the clinical setting.”
“I’ve been impressed with Wellframe’s persistent focus on delivering value to clients and users through mobile-enabled care management, and the strength of the partnerships that they’ve forged as a result,” said Emily Melton, DFJ Partner. “Wellframe has demonstrated well-defined evidence for financial impact with their clients, and DFJ is eager to support the next phase of growth for the company as more entities recognize that mobile platforms are the future for care management.”
Wellframe enables leading health plans and at-risk providers to better leverage their care management resources to achieve increased impact at greater scale by taking a tech-enabled, data driven, patient-centric approach. According to Susan Beaton, VP of Provider Services, Care Management and Risk at Blue Cross and Blue Shield of Nebraska, “Our telephonic care management program does reduce per member medical expense, but coupled with the mobile platform, we see additional savings that more than double the savings of traditional care management – in the order of magnitude of thousands of dollars per person.” To read more about Wellframe’s impact on BCBSNE’s care management program, download a recent case study at www.wellframe.com/casestudy.
Wellframe partners with leading health plans and providers to transform care management & patient engagement. Our mobile platform enables our partners to optimally leverage their existing clinical resources to provide patients with ongoing guidance and support when and where they need it. Wellframe’s approach delivers improved patient experience, reduced medical spend and increased value-based revenue. We work hand-in-hand with our partners, taking a data-driven approach to evaluating performance and optimizing resource allocation for continuous improvement. For more information on Wellframe, visit http://wellframe.com.
Shelley Harrison, 781-467-9596
Director of Marketing & Communications