Morgan Health Invests $5M in Data Analytics Company
The JPMorgan Chase business unit has invested $5 million in Embold Health with the aim of improving employer-sponsored healthcare.
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By - Morgan Health is giving $5 million to Embold Health, a company that provides data analytics for the healthcare industry.
Morgan Health is a JPMorgan Chase business unit that invests in projects related to employer-sponsored healthcare to help advance affordability, access, and quality.
Operated by doctors, Embold Health is a healthcare analytics company that seeks to assist patients in finding services at lower costs.
The frequent lack of clarity regarding cost and quality data is often a barrier to seeking healthcare and moving toward accountable care models, according to the press release. Embold Health's capabilities align cost and performance data with clinical guidelines across specialties, including cardiology, endocrinology, gastroenterology, and obstetrics, providing consumers insights they can use to select a provider.
“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, in the press release.
Embold also structures its capabilities around the goal of constant improvement rather than only acknowledging physicians with a strong reputation, the press release stated.
“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,” said Daniel Stein, MD, Embold founder, and CEO, in the press release. “We’re excited about the partnership with Morgan Health and their shared vision for engaging patients with actionable insights to improve their health.”
Morgan Health’s investment in Embold was part of a Series B funding round that raised $23 million led by Echo Health Ventures.
The organization has also invested in other companies, like Vera Whole Health, and entered into several partnerships in the past few years.
Earlier this year, Morgan Health partnered with Kaiser Permanente, enabling about 8,000 of its California-based employees to receive care through the health system.
In September 2021, Morgan Health announced a collaboration with the Duke Margolis Center for Health Policy. In this partnership, Morgan Health centered its goals around improving employer-sponsored healthcare by providing advanced primary care.
In addition to provider and health policy organizations, Embold Health has also partnered with retailers.
In 2019, Walmart decided to expand its telehealth services for employees to compete with businesses like Amazon and Best Buy. Part of this expansion included a partnership with Embold Health, which provided Walmart employees access to various healthcare providers in the area.
