The venture capital arms of three health systems are investing in TailorMed, a digital health startup that helps patients more easily find financial assistance.
They are Cleveland-based University Hospitals Ventures; Inception Health, an arm of Milwaukee-based Froedtert Health; and Ballad Ventures, a subsidiary of Johnson City, Tenn.-based Ballad Health.
TailorMed offers a navigation platform that matches patients with available financial assistance across thousands of different programs.
"University Hospitals is already seeing the impact to our hospital and our patients through our customer relationship with TailorMed," said Matthew Zenker, senior portfolio manager at University Hospitals Ventures, in a Dec. 19 TailorMed news release. "We are proud to invest alongside so many like-minded institutions in a company that is making healthcare more accessible and affordable for all."
Previous backers of TailorMed include Providence Ventures, UnityPoint Health Ventures and OSF Ventures, the venture arms, respectively, of Renton, Wash.-based Providence, Des Moines, Iowa-based UnityPoint Health and Peoria, Ill.-based OSF HealthCare.