{"id":3575,"date":"2023-01-27T13:24:12","date_gmt":"2023-01-27T13:24:12","guid":{"rendered":"https:\/\/regtechafrica.com\/healthcare\/?p=3575"},"modified":"2023-01-27T13:24:12","modified_gmt":"2023-01-27T13:24:12","slug":"global-digital-first-health-insurer-angle-raises-58m-series-a","status":"publish","type":"post","link":"https:\/\/regtechafrica.com\/healthcare\/global-digital-first-health-insurer-angle-raises-58m-series-a\/","title":{"rendered":"Global: Digital-First Health Insurer Angle Raises $58M Series A"},"content":{"rendered":"

Angle Health<\/a>\u00a0says it has raised $58 million to grow its digital-first health insurance platform.<\/p>\n

The company will use the Series A round to expand its platform, which launched in 2021 and covers tens of thousands of patients across the country, Angle said in a Wednesday (January 25, 2023) news release<\/a>.<\/p>\n

\u201cTelemedicine, behavioral health, and other digital health solutions \u2014 normally sitting outside of the traditional health insurance environment \u2014 are core offerings integrated into all Angle Health plans at minimal to no cost for members,\u201d the news release said.<\/p>\n

CEO\u00a0Ty Wang<\/a>\u00a0compared what Angle Health does to tools like Google Maps and rideshare apps, \u201celiminating the need for members to navigate the complexities of the healthcare system on their own.\u201d<\/p>\n

The company\u2019s new funding comes as consumers are increasingly\u00a0turning to digital tools\u00a0to pay for and manage their healthcare costs.<\/p>\n

For example, over the last year there has been an uptick in the number of consumers using digital wallets to pay for healthcare.<\/p>\n

The rate was at its lowest in March 2022, according to \u201cAccessing Healthcare\u201d report. A few months later, the July 2022 edition of \u201cThe Connected Economy\u201d saw an increase in the use of digital wallet options.<\/p>\n

While Apple Pay use remained flat between the year\u2019s first and second quarters, online use of Google Pay rose 2.9% and Samsung Pay climbed 1.2%. Samsung Pay and Google Pay also saw small gains for in-person payments.<\/p>\n

\u201cThe rise of mobile wallet use for healthcare-related payments appears on track to continue, as nearly half of surveyed consumers have used the method to pay for at least one of their bills within the previous 12 months\u201d.<\/p>\n

\u201cGiven this predicted growth, providers may want to prioritize mobile wallets as a payment choice to get ahead of the digital curve.\u201d<\/p>\n

There are other benefits for healthcare providers accepting digital wallet payments, such as the possible reduction of employee time spent on legacy efforts such as paper receipts.<\/p>\n

Elmahdi Erraji<\/a>, who heads product development at JPMorgan Chase\u2019s\u00a0InstaMed<\/a>, described the cost-saving benefits of implementing digital processes, especially for the healthcare sector.<\/p>\n

\u201cWhen you add labor shortages, it\u2019s only making the problem worse, [but] when you engage patients digitally, early and often throughout the healthcare visit life cycle, it increases the patient\u2019s likelihood of paying and reduces the burden on the administrative staff,\u201d Erraji said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Angle Health\u00a0says it has raised $58 million to grow its digital-first health insurance platform. The company will use the Series A round to expand its platform, which launched in 2021…<\/p>\n","protected":false},"author":1,"featured_media":3580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[73,80],"tags":[],"class_list":["post-3575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/regtechafrica.com\/healthcare\/wp-content\/uploads\/2023\/01\/90D3B650-03F9-4E91-B92A-CAB89E8C3074.png?fit=467%2C313&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/comments?post=3575"}],"version-history":[{"count":2,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3575\/revisions"}],"predecessor-version":[{"id":3578,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3575\/revisions\/3578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media\/3580"}],"wp:attachment":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media?parent=3575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/categories?post=3575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/tags?post=3575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}