Accolade adds $70M to Series E round to expand healthcare navigation

Written by Stephanie Baum, MedCity News.

The consumerization of healthcare is kind of a shorthand way of making the task of dealing with questions about health plans and services easier and less bureaucratic. Since the Affordable Care Act was enacted payers in particular have been compelled to make themselves more approachable and user friendly to consumers. In a lot of cases, health insurers and self-insured employers are enlisting technology companies to execute that effort. Accolade is one such business.

The health IT company developed a service that is designed to support these efforts, particularly when it comes to guiding employees and health plan members through the complex choices they need to make and help them understand their options, either online or by phone.

Accolade has raised $70 million in the second part of a Series E round in a bid to expand its staff and its platform’s reach. It brings the total raised for the round since July 2015 to $92.5 million, according to a news release.

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