Investment Designed to Increase Employers’, Consumers’ Access to Provider Quality Data
Morgan Health, the JPMorgan Chase & Co (NYSE: JPM) business focused on improving the quality, equity and affordability of employee health care, announced a $5 million investment in Embold Health, a physician-led analytics company that measures and creates transparency around provider performance.
Embold Health’s data analytics and insights offers employers, employees, health plans and health systems real-time, transparent and actionable data on provider quality through practice pattern and appropriateness metrics. The lack of transparent provider cost and quality data for evidenced-based primary and specialty care is a persistent challenge in moving toward adoption of more accountable care models in the commercial care market. Embold Health’s robust capabilities offer real promise in overcoming some of these long-standing issues.
The Series B round led by Echo Health Ventures will fuel Embold Health’s national expansion and further the vision to raise the quality of health care by providing actionable, objective quality metrics for consumers across the country. Morgan Health is participating alongside Chrysalis Ventures and Whistler Capital Partners as part of the $23 million funding round.
“Choosing a high-quality doctor is one of the most important decisions we can make in support of our health. At the same time, the lack of objective and actionable data makes this process all the more challenging and convoluted,” said Dan Mendelson, CEO of Morgan Health. “Embold’s platform and services make the selection process more intuitive for consumers with the data and insights needed to make sure they are getting the best value for their health care dollars.”
By aligning cost and performance data with clinical guidelines across a range of specialty areas, including cardiology, endocrinology, gastroenterology, obstetrics, ortho-joint, pediatrics, primary care, pulmonology and spine, Embold’s data analytics provides deeper insight into physician-level performance. The company’s tools help connect patients with top-performing providers and specialists and support the type of engagement needed between physician groups, health systems, health plans and employers to deliver value-based care.
“We’ve focused on establishing a new standard for quality measures and reporting that is transparent, honest and objective so that consumers, employers, health plans and doctors themselves can use Embold’s suite of services to make better and smarter decisions around their care,” Daniel Stein, M.D., Embold founder and CEO said. “We’re excited about the partnership with Morgan Health and their shared vision for engaging patients with actionable insights to improve their health.”
Embold is founded on the principle that it is not enough to identify high performing physicians; it is more important to present all physicians with credible performance data they can understand if the goal is to begin a process of continuous improvement. In a recent analysis conducted in partnership with researchers at Harvard Medical School, Embold identified wide variations in care decisions among nearly 9,000 doctors in five distinct metropolitan areas. Across the medical conditions covered by the study, specialists in the highest-performing group, when compared to those in the lowest-performing group, consistently choose the most appropriate care according to the latest quality measures and clinical guidelines. By adhering to evidence-based clinical decision-making, providers can consistently deliver higher quality care with better outcomes and lower costs.
Morgan Health’s investment in Embold Health is in addition to its investment partnership with Vera Whole Health and research collaboration with Kaiser Permanente. Morgan Health will continue to identify emerging and developing accountable care models with the goal of helping to scale and expand these offerings for JPMC’s employees and the more than 150 million Americans with employer-sponsored health insurance.
About Morgan Health
Morgan Health is a JPMorgan Chase business unit focused on improving employer-sponsored health care. Through its investments and the advancement of accountable care, Morgan Health is working to improve the quality, equity and affordability of employer-sponsored health care for JPMorgan Chase employees, their families and the U.S. health system. The business is led by Dan Mendelson, CEO of Morgan Health, reporting to Peter Scher, Vice Chairman of JPMorgan Chase & Co. and a member of the firm’s Operating Committee. Morgan Health is headquartered in Washington, D.C. Visit jpmorganchase.com/about/our-business/morgan-health.
About Embold Health
Embold Health is a doctor-led health care analytics company that helps employers identify and guide their members to high-performing doctors which improves patient outcomes and lowers costs. Ratings are based on objective clinical performance data of the individual physician against regional peers and latest medical care standards. Embold’s vision is to raise the quality of health care by providing every health care consumer in America with actionable, objective doctor quality metrics to empower them to make smarter health care decisions. Visit www.emboldhealth.com to learn more.
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