Tia Health gets over $24 million to build a network of holistic health clinics and virtual services for women

Tia Health, the developer of a network of digital wellness apps, clinics and telehealth services designed to treat women’s health holistically, has raised $24.275 million in a new round of funding.

The company said the financing would support the expansion of its telehealth and clinical services to new markets, although co-founder and chief executive Carolyn Witte would not disclose, where, exactly those locations would be.

Co-founded initially as a text-based tool for women to communicate and receive advice on sexual health and wellness, Witte and her co-founder Felicity Yost always had bigger ambitions for their business.

Last year, Tia launched its first physical clinic in New York and now boasts a team of 15 physicians, physician assistants, registered nurses, therapists and other treatment providers. The support staff is what helps keeps cost down, according to Witte.

“We reduce the cost of care by 40% [and] we do that through collaborative care staffing. [That] leverages mid-level providers like nurse practitioners to deliver higher-touch care at lower cost,” she said. 

Tia closed its most recent round before shelter-in-place went into effect in New York on March 17, and since then worked hard to port its practices over to telehealth and virtual medicine, Witte said.

Two days later, Tia went live with telehealth services and the company’s membership of 3,000 women responded. Witte said roughly half of the company’s patients have used the company’s telehealth platform. Since Tia began as an app first before moving into physical care services, the progression was natural, said Witte. The COVID-19 epidemic just accelerated the timeline. “In the last 90 days close to 50% of Tia’s 3,000 members have engaged in chat or video,” Witte said. 

The move to telehealth also allowed Tia to take in more money for its services. With changes to regulation around what kinds of care delivery are covered, telehealth is one new way to make a lot of money that’s covered by insurance and not an elective decision for patients.

“That has allowed us to give our patients the ability to use their insurance for that virtual care and bill for those services,” Witte said of the regulatory changes. 

The staff at Tia consists not just of doctors and nurse practitioners (there are two of each), but also licensed clinical therapists that provide mental health services for Tia’s patient population too.

“Before COVID we surveyed our 3,000 patients in NY about what they want and mental health was the most requested service,” said Witte. “We saw a 400% increase in mental health-related messages on my platform. We rolled out this behavioral health and clinical program paired with our primary care.”

As Tia continues to expand the services it offers to its patients, the next piece of the puzzle to provide a complete offering for women’s health is pregnancy planning and fertility, according to Witte.

The company sees itself as part of a movement to repackage a healthcare industry that has concentrated on treating specific illnesses rather than patient populations that have unique profiles and care needs.

Rather than focusing on a condition or medical specialization like cardiology, gastroenterology, gynecology or endocrinology, the new healthcare system treats cohorts or groups of people — those over 65, adult men and women, as groups with their own specific needs that cross these specializations and require different types of care.

“We are really focused on collecting longitudinal data to better understand and treat women’s health,” said Witte. “A stepping stone in that regard is expanding our service line to support the pregnancy journey.” 

Tia’s latest round was led by new investor Threshold Ventures, with participation from Acme Ventures (also a new backer) and previous investors, including Define Homebrew, Compound and John Doerr, the longtime managing partner at KPCB.

When the company launched, its stated mission was to use women’s data to improve women’s health.

“We believe reproductive-aged women deserve a similar focus, and a new model of care designed end-to-end, just for us,” the company said in a statement. 

As Tia continues to stress, women have been “under-researched and underserved by a healthcare system that continues to treat us as ‘small men with different parts’ — all-too-often neglecting the complex interplay of hormones, gene regulation, metabolism and other sex-specific differences that make female health fundamentally distinct from male health. It’s time for that to change.”

But Tia won’t be changing anything on the research front anytime soon. The company is not pursuing any clinical trials or publishing any research around how the ways in which women’s menstrual cycles may affect outcomes or influence other systems, according to Witte. Rather the company is using that information in its treatment of individual patients, she said.

The company did just hire a head of research — an expert in reproductive genomics, which Witte said was to start to understand how the company can build out proof points around how Tia’s care model can improve outcomes. 

Tia will reopen its brick-and-mortar clinic in New York on June 1 and will be expanding to new locations over the course of the year. That expansion may involve partnerships with corporations or existing healthcare providers, the company said.

“By partnering with leading health systems, employers, and provider networks to scale our Connected Care Platform, and open new physical and digital Tia doors, we can make ‘the Tia Way’ the new standard of care for women and providers everywhere,” Tia said in a statement.

As it does so, the company said it will continue to emphasize its holistic approach to women’s health.

As the company’s founders write:

Being a healthy woman is all-too-often reduced to not having an STD or an abnormal Pap, but we know that the leading cause of death for women in America is cardiovascular disease. We also know that women are diagnosed with anxiety and depression at twice the rate of men, and that endocrine and autoimmune disorders are on the rise. In pregnancy, c-section and preterm birth rates continue to go up instead of down, as does maternal mortality, with the U.S. reporting more maternal deaths than any developed country in the world.

We believe that the solution is a preventive “whole women’s health” model…

Post by startupsnows.blogspot.com