SAN FRANCISCO — Forward Health, which is developing a new healthcare system empowering doctors with technology and data to monitor and guide long-term health, announced $225 million in Series D funding with participation from musician The Weeknd, Founders Fund, Khosla Ventures, SoftBank Vision Fund 2, Salesforce founder Marc Benioff, and others.
The funding will help expand Forward Health’s healthcare system nationwide with several new locations slated to open in the first half of 2021. Forward Health will also use the funds to introduce new doctor-led programs focused on heart health, cancer detection, COVID-19, stress, anxiety, and weight management.
“The pandemic has further exposed the limitations of traditional healthcare, and the band-aid of telehealth alone does not solve the problem. We’re grateful that our investors have recognized this and are backing a new healthcare system that requires no insurance and no copay,” said Adrian Aoun, Chief Executive Officer, and co-founder, Forward Health. “In addition to serving as your single-source for everyday, primary care, our insight-led care helps identify issues early so you can stay healthy for the long-term.”
Forward Health provides members with unlimited in-person care at its technology-driven clinics, where first-time visits last an average of 60 minutes (compared to the national average of 15 minutes). During a member’s initial visit, more than 500 unique biomarkers can be captured — the vast majority of which are not commonly screened. The findings are then incorporated into the member’s health plan, delivering an extremely comprehensive and precise baseline of the member’s health. Together doctors and members work to get ahead of health issues. Using continuous biometric and behavioral data monitoring, doctors create personal health programs that identify and treat issues before they become problems.
“I invested in Forward Health because I walked into the Los Angeles location and couldn’t believe what I saw: a state-of-the-art facility that looked like the exact opposite of what you’d expect to see in a typical doctor’s office — with no waiting room and everyone being seen straight away,” said The Weeknd, who performed in this year’s Super Bowl.
A Forward Health membership includes:
- Technology-powered insights to stay ahead of health issues. The Forward Health journey begins with a biometric full-body scan to provide the doctor with a complete picture of a member’s health. The visit includes a comprehensive blood panel drawn and delivered in the same visit, so members can take the time to ask questions and fully understand the implications of their results. Members can also dive deeper with genetic analysis, cancer screenings, and home monitoring – the latter of which allows Forward Health’s Care Team to monitor and triage results 24/7 via a mobile app.
- Doctor-led programs that work on both immediate and long-term health. In addition to serving as a single-source for routine primary care, Forward membership also includes programs created by a member’s doctor with the member’s specific body and mental health in mind. Members receive counsel on potential risk factors for cancer, diabetes, hypertension, and more, as well as guidance on issues such as stress management, high cholesterol, COVID-19 care, weight management, and nutrition.
- Collaborative physician attention and care. Doctors are focused on creating individualized plans in lockstep with members, both in-office and virtually. Whether the goal is to maintain or improve general health or to address something specific, Forward Health empowers doctors with up-to-date data to provide personalized plans and enable positive outcomes.
- One flat fee, no copays. Forward is refreshingly not insurance. The membership fee is comparable to the average insurance deductible. Yet, it includes an actual relationship with a doctor, the Care Team and always-on support, ongoing monitoring and data visibility in the app, and access to six doctor-led programs.
“We believe Forward Health is transforming healthcare. Rather than visiting a doctor when you’re sick, Forward proactively works to keep you healthy by utilizing advanced technologies such as remote biometrics monitoring and app-based care,” said Jeff Housenbold, Managing Partner, SoftBank Investment Advisers. “With the traditional healthcare system under stress and people reticent about visiting crowded facilities, there has never been a greater need or better time to rethink healthcare from the ground up. We look forward to supporting Adrian and team in their mission to provide personalized, preventive care.”
The company is also launching Healthcare is Backwards — a campaign that exposes how the current healthcare system makes it harder for people to care about their health due to archaic tools, rushed visits, and hidden charges.