First Stop Health, LLC has raised $6.5 million in equity capital to enhance its market position as a leading provider of virtual healthcare services for the employer marketplace. Leveraging its unique member engagement and guaranteed employer savings model, First Stop Health is now poised to further accelerate its growth.
The funding was led by Joe Mansueto, Founder and Chairman of Morningstar, and Rich Gallun, Co-founder and former CEO of benefits platform provider bswift. First Stop Health Co-founders, Patrick Spain, CEO, and Dr. Mark Friedman, Chief Medical Officer, also participated along with many of the company’s existing investors. First Stop Health has raised a total of $14.2 million since its founding in 2011.
“With rapid annual revenue growth, this investment capital allows us to further our vision of transforming the patient healthcare experience,” says Spain. “Our clients embrace our service model, which gives members a simple, frictionless experience to access care within minutes of when they need it.”
With the highest telemedicine utilization rate in the industry and putting its fees at risk to do so, First Stop Health is leading the move toward value-based medicine in virtual healthcare.
“We make requesting a virtual visit with a doctor easy because we’ve simplified the process,” says Dr. Friedman. “We deliver a service that people actually use without the typical, lengthy intake process. This unique member experience is a big part of what sets us apart.”