Israeli startup Better Health produces a platform that allows chronic patients to buy the medical products they need
Israeli startup Better Health, which is developing a system for purchasing medical equipment for chronic patients, today announced the completion of a $10 million fundraising drive. The new round of investment was led by veteran General Catalyst Fund led by partner Hemant Taneja and Caventide Capital led by Raymond Tunsing. Also attending the tour were Bill Ackman and previous investors in the company: 8VC, Anorak Ventures, Tank Hill Venture Partners.
Couple’s first start
To access the medical equipment they need, chronically ill patients in the United States don’t always encounter a system designed for them. They have to hunt down physical stores with limited selection or chains nationally (remember that the national level in the US is not at the national level in Israel). Israeli startup better health He wants to solve this problem, with a system tailored to these patients – allowing them to get the medical equipment they need.
The advantage of Better’s system is that it handles users’ health insurance to cover the expenses, rather than taking huge amounts of money out of their pocket and then having to apply to the company for a refund. On a technological level, Better has created a platform that really brings e-commerce to the field of purchasing medical products.
In the US medical world, when you order the service today, there is no transparency about what the deductible is, and people will find out retroactively the thousands of dollar fees. We create user transparency by communicating with insurance companies for information about each patient’s policy and coverage (there are thousands of different insurance companies and programs in the US) and creating dynamic pricing according to policy, coverage, and products. This way we are able to save the user unnecessary costs and unpleasant surprises along the way,” says Nima Stauber Berkler, CEO of Better in a conversation with Giktiim.
According to Stauber-Berkler, Better develops the world’s largest repository of medical information that links a patient’s medical condition, anatomy, and other personal data to products a patient uses. In addition, we can determine based on usage patterns and additional data whether a user needs additional support from a medical trainer or a nurse who can update the treatment or product accordingly. For example, the use of an excessive amount can indicate incorrect use of the product or It indicates that the product is not ideal for treating the condition.”
According to Stauber-Berkler, the hiring is designed to build on the additional medical services the company offers, expand into additional categories and expand partnerships with insurance companies and hospitals. The company currently has about 35 employees in the United States and 4 in the development center in Israel. The company was founded by Stauber-Berkler with her husband – Adam Berkler: “This is the fourth startup we each have and the first we are building together.”
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