We were frustrated, as a family, that her healthcare was so expensive while her health insurance and health plans were extremely hard to use. Her journey was my first time seeing how healthcare actually works (versus how it’s purported to work). It’s a small shift with big implications for the future of healthcare.Įxploration for Flume was catalyzed by my little sister’s encounter with the healthcare system. By working directly with providers to get cash prices for services, patients avoid surprise bills and know what they’re paying before an appointment. We created Flume Pay, the first healthcare payments technology that enables employer plans to pay medical claims at the time of service – usually in less than 72 hours. Flume Health offers an end-to-end solution that allows self-insured employers to optimize, and make the most of the health insurance benefits they offer their employees. Tell us about the product or service that Flume Health offers.įlume Health’s mission is to bring transparency into the very opaque world of healthcare in the US. We raised seed funding of $4.05M from Primary Venture Partners, Founders Collective, Accomplice, ERA, and other angel investors. Who were your investors and how much did you raise? Payments are typically processed in less than 72 hours, giving both the insured and employers peace of mind.ĪlleyWatch sat down with CEO and cofounder Cedric Kovacs-Johnson to discuss how his family’s personal experience with the healthcare system inspired him to create the technology that’s combating one of the biggest inefficiencies in healthcare – payments. The company’s signature product, Flume Pay, allows employer plans to pay medical claims at the time of service eliminating uncertainty and reducing overall costs. Addressing this problem is Flume Health, the NYC startup that empowers people with its transparent, third-party platform that offers an end-to-end solution for self-insured employers to make the most of their health insurance plans. ![]() While medical bills are notoriously expensive, it’s always surprising to open up a bill to find out after the fact that your insurance did not cover your latest medical service or that you received some unexpected charges.
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