Transcarent rolls out new oncology service for self-insured employer market
Transcarent, a health tech company for self-insured employers, announced a new program focused on the cancer-care space. Dubbed Transcarent Oncology Care, the service is designed to help Transcarent members connect with cancer care institutes, oncology providers and appropriate clinical trials in their area.
In addition to connecting members to care, the service also provides emotional and social support services. Members are able to connect with Transcarent health guides and oncology nurses to discuss their care and needs. The service also offers members financial guidance, mental health services, nutritional counseling, social work support and transportation.
Members are able to integrate their cancer care into their other healthcare services and access a doctor virtually through the Transcarent system.
WHY IT MATTERS
According to the CDC, 1.7 million new cancer cases were reported in 2018. That same year 599,265 people died of cancer, according to the agency. Currently there are 16.9 million cancer survivors in the U.S., that number is expected to spike to 22.2 million by 2030, according to the National Cancer Institute.
“Nearly every day, a colleague, family member, or friend reaches out to me for help with a new cancer diagnosis. While I can guide each of these people, one at a time, at Transcarent, we are scaling this personal approach to every one of our members, so everyone in the country can access the best-in-class medical care and emotional support for their individual health challenge,” Dr. Jeff Dobro, chief innovation officer for Transcarent, said in a statement.
“By directly contracting with leading Centers of Excellence and appropriate sites of care, and combining our personalized care journey experience, we are removing the barriers that have historically existed for the average person and their family when it comes to accessing best-in-class oncology care.”
THE LARGER TREND
Founded by Livongo vet Glen Tullman, Transcarent emerged out of stealth mode in March 2021, with the goal of overhauling the self-insured market by overlaying a digital health platform over existing plans.
In January, the company raked in $200 million in Series C funding. The company has also been expanding through partnerships. In October, it made a deal with Walmart in order to lower prescription drug costs and other prices for its members in the self-insured market.
Transcarent isn’t the only digital company looking to transform the payer space. Clover Health, a Medicare Advantage insurtech company, went public through a SPAC merger in 2021. Other names in the space include Bright Health and Oscar Health.