Transcarent, a digital platform focused on the self-insured employer market, announced the launch of WayFinding, an AI-enabled consumer-facing platform that offers clinical guidance, benefits navigation and care delivery.
The platform guides patients through receiving care by answering questions about benefits and costs, recommending an appropriate course of clinical action, and then connecting them to human care providers or digital solutions that address their needs.
The announcement comes just weeks after the company announced it secured $126 million in Series D funding, bringing its valuation to $2.2 billion. At the time, it said it planned to use the investment to accelerate its AI capabilities.
“Imagine if you could go to one place, 24 hours a day, to access all your benefits, get the unbiased medical guidance you need and then have instant access to a doctor or other healthcare professional or connect to the leading point solutions with no separate logins and membership cards needed. That’s what we’ve all been dreaming about and today Transcarent is delivering on that vision,” Glen Tullman, CEO of Transcarent, said in a statement.
“This is not just better than traditional navigation; it’s completely different. It’s like moving from a flip phone to an iPhone. The flip phone did one thing. The iPhone does everything. And we’re doing it all at half the price of traditional navigators.”
THE LARGER TREND
Last year, the company announced plans to acquire assets from 98point6, including its AI-enabled virtual care platform and care business.
It also collaborated with ViewFi, a tech-enabled virtual orthopedic and rehabilitation platform, to deliver virtual orthopedic and musculoskeletal care through Transcarent’s Consult Solution.
In 2022, Transcarent raised $200 million in Series C funding and rolled out its pharmacy benefit offering.
Transcarent Pharmacy Care allows members to search for the lowest-cost drug option and compare prices across pharmacies. They can also transfer their prescription within Transcarent’s app and access 24/7 support.