Hint Health Announces $45 Million Investment To Help Physicians Ditch Insurance and Go Cash-Only
Hint aims to simplify primary care by empowering direct primary care providers across the U.S. with its scalable management software
SAN FRANCISCO, Calif. (June 1, 2022) Hint Health, the largest company focused on powering the direct primary care (DPC) movement, today announced a $45 million investment led by Banneker Partners and Frist Cressey Ventures. This additional investment will support the growth of Hint’s operating system technology for core customers and an expansion of its national DPC network, Hint Connect. Hint Health will also use the investment to increase services that support innovative virtual-first care models and near-site / on-site clinics that directly contract with employers.
The distortions driven by the existing fee-for-service insurance model are a major contributor to the unsustainable U.S. healthcare system, which sees close to $1 trillion annually in wasteful spending. Increased provider burnout, patient dissatisfaction, and ballooning employer costs are leading to the accelerated growth of DPC, which saw membership across the U.S. increase 241% from 2017 to 2021.
HintOS™ is the only platform designed specifically for providers of any size to manage the unique complexities of a membership-based primary care model. The platform automates the enrollment, membership management, and billing for DPC providers who are offering their primary care services directly to consumers for a fixed monthly fee. HintOS also supports providers in their direct-to-employer contracting by managing eligibility and a payment process that does not depend on a fee-for-service infrastructure.
“With Hint Health, providers can deliver premium and affordable care to all without dealing with the hassle and costs associated with the insurance middlemen, meaning providers can put the focus back on their patients,” said Hint Health CEO Zak Holdsworth. “For patients, this means the high-touch care they need, but at an affordable price that makes healthcare accessible and realigns payment incentives toward value.”
The average primary care doctor visit costs patients $167, takes weeks to schedule, and requires jumping through insurance hoops just to receive basic care. At a median cost of $75 per month, patients within the DPC model get unlimited access to primary care, telemedicine, and urgent care. The result is higher quality doctor-patient relationships and more thorough care, with appointments that last 45-60 minutes rather than the average 18 minutes experienced in fee-for-service primary care.
Hint puts health back at the center of healthcare by allowing DPC providers to focus on a patient’s medical needs instead of how much in fees that patient will bring to the practice. Additionally, with Hint Connect — a network of DPC providers across the country — plan sponsors and networks have the ability to grow and scale their practices with ease.
Hint is further working to serve and invest in healthcare providers in the DPC movement with the Hint Summit, a conference that brings together DPC pioneers and innovators to share ideas, build meaningful new relationships, and celebrate how DPC is setting a new standard in U.S. healthcare. Furthermore, for any size DPC practice looking to advance their success, Hint also offers DPC Accelerator, a free training and coaching program for Hint customers to learn what it takes to design, launch, and grow a thriving DPC practice.
About Hint Health
Founded in 2013, Hint Health is the leading digital health company dedicated to the direct primary care (DPC) movement. With a mission to redesign the way healthcare is paid for and delivered, Hint offers membership management and billing software for provider organizations that offer direct access to high-quality, affordable, membership-based primary care. Hint Health is available nationally and powers over 2,400 DPC providers and 1,600 clinical locations across the U.S. Hint produces Hint Summit, the largest annual conference for the industry, taking place this year on June 7-9, 2022 in Denver, CO. The company is headquartered in San Francisco, CA. To learn more visit hint.com.
About Banneker Partners
Banneker Partners invests in growing, mission-critical enterprise software businesses to drive sustainable long-term value. Banneker takes a partnership approach to support founders and management teams to achieve their goals by implementing proven best practices and making additional investments across functional areas including sales, marketing, product management, product development, professional services, and customer success and complements these growth initiatives with strategic acquisitions that are focused on enhancing customer value. Banneker has a track record of successful partnerships, including portfolio companies like LINQ, Routeware, Versaterm, and EverAg/Dairy.com.
About Frist Cressey Ventures
At Frist Cressey Ventures, our mission is focused on accelerating the growth of high potential healthcare enterprises through value-added partnerships. We invest in technology and service businesses with viable solutions that improve quality of care, system integration, patient outcomes, and population health and well-being. We join like-minded entrepreneurs who share similar core values in their pursuit to improve healthcare. To learn more, visit www.fcventures.com.