[{"innerBlocks":[],"name":"core\/freeform","postId":905,"blockType":{"name":"core\/freeform","keywords":[],"attributes":{"content":{"type":"string","source":"raw"},"lock":{"type":"object"}},"providesContext":[],"usesContext":[],"selectors":[],"supports":{"className":false,"customClassName":false,"reusable":false},"styles":[],"variations":[],"apiVersion":3,"title":"Classic","description":"Use the classic WordPress editor.","category":"text"},"originalContent":"Health plans have been showing increasing interest in social determinants of health, and now they\u2019re starting to back that up with some venture capital.

HCSC Ventures, the country\u2019s largest customer-owned health insurer, along with a handful of Blues plans announced last week that they are backing Solera Health with $42 million to improve care by focusing on SDOH. Solera uses data science to consolidate highly fragmented programs and services into a single marketplace for health plans and employers, which helps them proactively identify what will best fit an individual\u2019s needs.

Health plans joining HCSC Ventures in this latest investment round were Horizon Blue Cross Blue Shield of New Jersey, Blue Cross and Blue Shield of Alabama, Blue Cross Blue Shield of Kansas City, Blue Cross Blue Shield of South Carolina, Blue Shield of California and BlueCross BlueShield Venture Partners\/Sandbox Advantage Fund.

\u201cAt Blue Cross and Blue Shield of Kansas City, we believe that addressing the social determinants of health for our beneficiary populations will be key to our community health program moving forward,\u201d says Bret Oettmeier, president and CEO of Cobalt Ventures, the private equity subsidiary of Blue Cross and Blue Shield of Kansas City. \u201cWe are excited to support the company\u2019s efforts to better address these issues, with an ultimate goal of improving care quality while lowering associated costs.\u201d

Solera\u2019s network of curated, hyper-local resources has evolved during the past year to support a broader array of lifestyle modification programs, including diabetes management, hypertension, stress, sleep, tobacco cessation and weight management, the company said. The new round of funding will enable Solera to expand from chronic disease prevention and management to address behavioral health and SDOH that includes food insecurity, medically tailored meals, transportation, falls prevention and social isolation.

\u201cHCSC Ventures supports growth in transformational companies that share our goals of fostering innovation and increasing the accessibility and affordability of care,\u201d says Sahil Choudhry, assistant vice president of corporate development and venture investments at HCSC Ventures. \u201cSolera Health\u2019s mission of improving people\u2019s health by connecting them with a network of healthcare solutions is something that truly resonates with us. The company\u2019s innovative network model has already helped millions of individuals change their habits and reduce their risk of developing chronic disease.\u201d

The investment round follows a partnership Solera made in March with the Blue Cross Blue Shield Institute<\/a> to launch a nationwide program to tackle SDOH at the community level. The alliance enables health plans to document health improvement and cost savings through Solera\u2019s network of providers and payment infrastructure to address SDOH in a sustainable and scalable way.

\u201cThere is no greater vote of confidence for the impact Solera Health is making than a substantial investment from our health plan clients,\u201d says Brenda Schmidt, CEO of Solera Health. \u201cWe\u2019ve proven our model\u2019s success in driving results in chronic disease prevention and look forward to expanding our relationships with our health plan partners to help their members holistically manage their health.\u201d
","saveContent":"Health plans have been showing increasing interest in social determinants of health, and now they\u2019re starting to back that up with some venture capital.

HCSC Ventures, the country\u2019s largest customer-owned health insurer, along with a handful of Blues plans announced last week that they are backing Solera Health with $42 million to improve care by focusing on SDOH. Solera uses data science to consolidate highly fragmented programs and services into a single marketplace for health plans and employers, which helps them proactively identify what will best fit an individual\u2019s needs.

Health plans joining HCSC Ventures in this latest investment round were Horizon Blue Cross Blue Shield of New Jersey, Blue Cross and Blue Shield of Alabama, Blue Cross Blue Shield of Kansas City, Blue Cross Blue Shield of South Carolina, Blue Shield of California and BlueCross BlueShield Venture Partners\/Sandbox Advantage Fund.

\u201cAt Blue Cross and Blue Shield of Kansas City, we believe that addressing the social determinants of health for our beneficiary populations will be key to our community health program moving forward,\u201d says Bret Oettmeier, president and CEO of Cobalt Ventures, the private equity subsidiary of Blue Cross and Blue Shield of Kansas City. \u201cWe are excited to support the company\u2019s efforts to better address these issues, with an ultimate goal of improving care quality while lowering associated costs.\u201d

Health plans back Solera’s SDOH program with $42 million

More for you