Wildflower Health Announces $26 Million Financing Round to Support National Expansion of Value-Based Maternity Care Offerings
March 9, 2022
Company will use funding to scale its unique approach to value-based care within the maternity setting while driving further innovation within the women’s health space
San Francisco, March 8, 2022 – Wildflower Health, a women’s health solutions company specializing in digital and value-based care, today announced the close of a new financing round of $26 million. The round was led by TT Capital Partners with participation from existing investors, including Providence Ventures, Health Enterprise Partners, Hatteras Venture Partners, and Echo Health Ventures.
“Despite increased venture investments in women’s health, providers and payers have struggled to advance true value-based care with OB providers,” said Dawn Owens, CEO and Partner of TT Capital Partners, who will join Wildflower’s Board as part of the investment. “Wildflower is the first company in the market to fill the solution gaps that have prevented widespread adoption of value-based care in women’s health. Wildflower is ushering in a new era, and we are proud to be part of it.”
In addition to increasing its financial commitment in Wildflower, Providence also has expanded its contract with Wildflower to include installation of Wildflower’s solution for value-based maternity care across its Southern California region. The health system will work with Wildflower to engage health plans and employers to drive successful and sustainable value-based care and payment models in obstetric and newborn care.
“Wildflower has been an extremely valuable partner, helping drive patient and provider activation in digital health technologies to improve quality of care across our health system,” said Dr. David Lagrew, executive medical director of women’s services for Providence. “We are excited to fully leverage the company’s expertise in value-based maternity care to transform the way we care for mothers and babies. Wildflower’s technology and health advocacy services, combined with a leading set of value-based consulting and modeling capabilities is unique. With this support, we can bring all stakeholders together and deliver something very special for our patients, our providers and our community.”
Wildflower will leverage the financing round to strengthen its internal team and prepare for the nationwide expansion of a proprietary maternity bundle that fully operationalizes value-based care for OB providers. Wildflower’s solution helps providers evaluate and design VBC models alongside payers; install both digital health and point-of-care decision support tools; adapt current workflows to value-based requirements and continuously process data, both for leveraging key clinical metrics in real-time, as well as managing financial payments, reconciliations and outcomes measurement.
Wildflower’s maternity bundle is comprehensive, spanning from prenatal to postnatal care and accounts for the total cost of pregnancy for both mom and baby. The company ensures providers are rewarded based on the best clinical care and cost containment methodologies.
With the Wildflower solution, providers and payers gain the power to view pricing and quality improvement opportunities, understand specific metrics, and project potential savings available for maternity and newborn episodes. The solution also fully enables financial management of the bundle, including distribution of payments to all participating providers, based on performance. From initial discussions to implementation, providers and payers have a blueprint to follow.
“We have been committed to transforming patient care and outcomes in women’s health from the beginning,” said Leah Sparks, founder and CEO of Wildflower Health. “The next phase of delivering on that mission requires accelerating the transition from fee-for-service to a model that rewards providers based on quality outcomes. We are excited to embark on this next chapter in partnership with our payer and provider clients.”
Wildflower was founded in 2012 as a mobile health company to help women have healthy pregnancies. Over time, the company expanded its capabilities to support the evolving health journey for families across all life stages. Today, Wildflower supports the entire ecosystem – the provider, the payer, the family – with a solution that is purpose-built to advance more effective, equitable care, as well as the payment models that fuel it.
Wildflower has received multiple accolades for its work in the women’s health space, including being recognized as “Best Femtech Company” by the University of San Francisco’s Digital Health Awards. The company received the Validation Institute’s Health Value Award for maternity management and has been featured as an innovator at TedMed and as a speaker at SXSW, HLTH, Rock Health Summit and the World Health Care Congress.
Wildflower is a women’s health solutions company, specializing in digital and value-based care. We are the architect of the industry’s first, and only, comprehensive bundle for value-based maternity care, with pre-built functionality for all actuarial, clinical and operational needs. Wildflower is facilitating the transition to value, starting with the OB episode.
Our capabilities include a combination of technology, health advocacy and value enablement services, all designed to simplify the journey to value-based care for providers, payers, and purchasers by collapsing silos and aligning rewards around the delivery of healthy outcomes for women and their families. Wildflower is ushering in a new era for women’s health. This is a smarter way to care. www.wildflowerhealth.com