Eliminating Financial Barriers to Care with Proactive Assistance
TailorMed provides a financial navigation and assistance platform designed to address the rising cost of healthcare delivery. Initially launched with health systems, the company has since expanded its offering to pharmacies and drug manufacturers. The platform includes benefits investigation, out-of-pocket cost estimation, financial assistance matching (to government-funded and philanthropic sources), insurance optimization, medication assistance, and automatic enrollment for patients into relevant programs such as copay assistance, free drug programs, and support for transportation and living expenses. TailorMed’s analytical capabilities enable providers to identify patients with the highest financial vulnerability, shifting financial assistance and revenue cycle management from reactive matching to proactive identification. This reduces out-of-pocket responsibility for patients, eliminating downstream financial hardships that often lead to care avoidance. It also improves the patient experience, leads to better outcomes, and helps health systems with bad debt avoidance. TailorMed is based in Tel Aviv, Israel, with a US headquarters in New York City.
Date of investment: 2021
Sector: Financial Assistance
Company status: Active
Associated team: Dan Galles (Board Seat), Christina Warner
