Virtual Women's Health Clinic Visana Health Secures $24M Series A Funding to Expand Services

Visana Health, a virtual women's health clinic focused on complex patients, has successfully closed a $24 million series A funding round. The investment, led by Noro-Moseley Partners with support from Cigna Group Ventures and Intermountain Ventures, aims to fuel the expansion of Visana's clinical offerings and strengthen its technological infrastructure.

Comprehensive Care for Complex Patients

Visana Health positions itself as a medical home for women, addressing a wide range of conditions from menstruation to midlife, including high-cost, complex issues such as menopause, endometriosis, and PCOS. The company's approach targets women aged 18 to 65, with a particular focus on those with multiple chronic conditions.

Joe Connolly, co-founder and CEO of Visana, emphasized the company's holistic approach: "Women can turn to us for any condition that they need. Women are often coming to us with signs and symptoms. They don't necessarily have a diagnosed condition … oftentimes, it's more than one issue."

The average Visana patient presents with three to four chronic conditions, highlighting the need for coordinated care. Connolly noted that traditional healthcare often results in fragmented treatment across various settings, leading to issues such as polypharmacy.

Expanding Market Presence and Value-Based Care

Visana's payer partnerships currently represent over 35 million covered lives, with self-funded employer partnerships covering an additional 1 million lives. The company projects serving nearly 50,000 women in the current year.

Many of Visana's payer contracts include value-based care (VBC) components, such as care coordination fees or shared savings arrangements. This approach aligns with growing employer demand for comprehensive women's health solutions, with Cigna reporting that 86% of employers are very or extremely interested in such offerings.

Visana claims to reduce employer medical costs by 34%, cut unnecessary procedures by 78%, and deliver more than $2,400 in annual savings per enrollee. The company's focus on complex patients, particularly women over 45 who tend to incur 50% higher costs on a per-member, per-month basis, positions it to address significant healthcare challenges and expenses.

Technological Enhancements and Future Developments

Part of the series A funding will be allocated to expanding Visana's artificial intelligence capabilities. The company currently employs an in-house AI tool to assist providers with internal clinical protocol inquiries and utilizes an external AI scribe, which has been well-received by clinicians.

Visana's comprehensive care model includes 45-minute initial visits to screen for primary care, cardiometabolic, and behavioral health issues, followed by the creation of personalized care plans. The company also coordinates referrals for in-person care when necessary and manages mild to moderate anxiety and depression in-house.

As Visana continues to grow, it faces challenges such as regulatory uncertainty surrounding virtual abortion services. However, with its recent funding and focus on complex women's health issues, the company is poised to make significant strides in addressing the unmet needs of women across the healthcare spectrum.