Certainly Health, a healthcare startup focused on enhancing price transparency and eliminating financial uncertainty in medical visits, has successfully raised $2.3 million in its inaugural investment round. Pacific 8 Ventures, Y-Combinator, and additional institutional and private investors provided the majority of the funding.
Concerns regarding unforeseen medical expenses have caused a considerable proportion of Americans to postpone essential medical treatment. Certainly, Health has developed an online marketplace to facilitate the appointment of medical visits. This platform employs artificial intelligence (AI) to forecast the out-of-pocket expenses associated with healthcare services that are classified as “shoppable.” These are non-urgent services that allow patients to deliberate, evaluate, and arrange beforehand.
Certainly, Health is distinguished by its one-of-a-kind guarantee. The platform not only provides predictions regarding consumer costs but also provides a guarantee for these estimations. A patient who schedules an appointment with Certainly Health and is charged an amount over the anticipated cost is entitled to reimbursement from the organization.
Differentiating itself from other healthcare price transparency platforms, this methodology exposes Certainly Health to financial risk if estimates fail to meet expectations. Kevin Chiu, co-founder and chief executive officer of Certainly, is certain that the model’s precision will increase as the company processes more reservations and gains knowledge from prediction errors.
Certainly, Health estimates the proportion of the total cost attributable to consumers who have health insurance, as opposed to eliminating the insurance intermediary. The platform accommodates individuals who favor utilizing their health insurance to obtain care while also enabling them to do so while conserving money.
Chiu’s inception of Certainly Health is motivated by his upbringing and personal experiences. Having been raised with skepticism towards physicians as a result of unforeseen medical expenses, his objective is to allay comparable apprehensions among others. Presently operational in New York City, the platform intends to expand progressively by first establishing a business playbook in regions characterized by a significant preponderance of healthcare providers, followed by forays into untapped markets. Although Certainly Health charges providers a booking fee, the service remains complimentary for consumers.
