Knownwell Secures $25M to Expand Integrated Metabolic & Primary Care – A Deep Dive into the Future of Obesity Treatment
October 26, 2023 – Knownwell, a rapidly growing company redefining metabolic health, has announced a $25 million funding round led by CVS Health Ventures. this important investment signals a major vote of confidence in Knownwell’s integrated approach to tackling obesity and related chronic conditions. This article will explore the implications of this funding, Knownwell’s unique position in the market, and what it means for the future of accessible, effective weight management.
Addressing a Critical Gap in Healthcare
the rise of obesity and metabolic disease represents one of the most pressing healthcare challenges of our time. Traditional healthcare often struggles to provide the comprehensive, ongoing support needed for lasting change. Knownwell directly addresses this gap by combining primary care with specialized metabolic health services.
This isn’t just about weight loss; it’s about improving overall health and preventing chronic diseases like type 2 diabetes, heart disease, and certain cancers. CVS Health Ventures recognizes this, viewing Knownwell as a key player in transforming how obesity is treated nationwide.
What Sets Knownwell Apart?
Knownwell isn’t simply another virtual weight loss program. Here’s a breakdown of what distinguishes them:
* Integrated Care: knownwell seamlessly blends primary care, metabolic health expertise, nutrition counseling, and behavioral health support. This holistic approach addresses the complex factors contributing to metabolic dysfunction.
* GLP-1 Prescription Access: when appropriate, Knownwell providers can prescribe GLP-1 medications – a powerful tool in managing obesity and diabetes. However, medication is always part of a broader, personalized care plan.
* Hybrid Care Model: Knownwell offers both virtual care nationwide and in-person services through clinics in Atlanta, Boston, Chicago, and dallas. This flexibility caters to diverse patient preferences.
* Insurance Acceptance: Crucially,Knownwell accepts a wide range of insurance plans,including commercial,Medicare,and Medicaid,making their services accessible to a broader population.
* Value-Based Care Focus: Knownwell is actively building infrastructure to participate in value-based care models, shifting the focus from volume of services to patient outcomes.
Funding Breakdown & Future Plans
The $25 million Series A round included participation from MassMutual Catalyst Fund, Intermountain Ventures, a16z Bio + Health, and Flare Capital Partners, bringing Knownwell’s total funding to over $50 million.
Co-founder and CEO Brooke Boyarsky Pratt outlined the company’s plans for the funding:
* Expanded Access: Knownwell will expand its reach by opening additional clinics and growing its virtual care team.
* AI & Clinical Decision Support: Investment in artificial intelligence will enhance clinical decision-making and personalize treatment plans.
* Value-Based Care Infrastructure: Building the necessary infrastructure to thrive in a future of value-based reimbursement models.
Navigating a Shifting Insurance Landscape
The timing of this funding is noteworthy. Several insurers, including Blue Cross Blue Shield of Massachusetts and Harvard pilgrim Health Care, are beginning to restrict GLP-1 coverage for weight loss.
Boyarsky Pratt acknowledges the potential for short-term turbulence but remains optimistic. She anticipates a period of expansion over the next 18 months, fueled by:
* Oral GLP-1s: The anticipated release of oral formulations of GLP-1 medications by Lilly and Novo Nordisk is expected to lower costs and improve accessibility.
* Evolving Reimbursement: Knownwell is proactively preparing for a future where innovative reimbursement models reward effective care, rather than simply the volume of services.
Competition & knownwell’s Position
The metabolic health space is becoming increasingly crowded,with companies like Ilant Health,Noom,and Found all vying for market share. However,Knownwell differentiates itself through its emphasis on primary care.
By integrating metabolic health services into a comprehensive primary care framework, Knownwell can provide more holistic and coordinated care. This approach is likely to resonate with both patients and payers seeking long-term health improvements.
Looking Ahead: Advocacy & Clinical Trials
Beyond expansion and innovation, Knownwell is committed to:
* Advocacy: Continuing to advocate for improved access to obesity medicine and metabolic health services.
* Clinical Trials: Expanding its involvement in clinical trials to advance the understanding and treatment of metabolic disease.
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