Transparent Health Marketplace (THM) operates the first marketplace of its kind to connect payors and providers of workers' compensation healthcare services on an open platform featuring market-driven pricing. The platform lets providers name their price and be paid quickly the exact amount they bid for awarded contracts, and combines marketplace dynamics with automated billing, payments and scheduling. THM integrates data and intelligent algorithms to automate complex business processes and accelerate access to care for payors, providers and consumers. The company launched earlier this year and positions itself to capture portions of the roughly $300 billion in medical spending it says is primed for a marketplace model. THM plans to use its technology to reduce administrative inefficiencies and non-competitive pricing in the current healthcare structure. Financially, THM has completed a new equity raise and now reports total equity raised of $57.4 million. Transparent Health Marketplace (THM) operates a marketplace that connects payors and providers in the workers' compensation healthcare market, offering market-driven pricing and an open platform. The platform lets providers name their price and be paid quickly the exact amount they bid for awarded contracts, and combines marketplace dynamics with automated billing, payments, and scheduling. THM says this approach replaces outmoded network contract models and delivers cost savings for payors, growth opportunities for providers, and new efficiencies across the industry. The company plans to use recent funding to support the launch of its health marketplace platform and to advance marketplace capabilities. THM intends to expand staff and build out its team in the Philadelphia region to support those plans. The company has already proven its technology with one of the nation’s largest payor organizations.

Total raised

$41M

Funding rounds

2

Latest round

Series C

Latest activity

Apr 2021