Here are five key notes:
1. The financial terms of the financing were not disclosed, but the funding will support EmployerDirect’s core product growth. SurgeryPlus is the core product, designed as a supplemental benefit for employees of large employers with self-insured medical plan benefits.
2. There are around 275,000 members nationwide with access to SurgeryPlus, which connects patients with the EmployerDirect Surgeons of Excellence national network. Employees have zero out-of-pocket options and employers save 30 percent to 50 percent on procedure costs.
3. EmployerDirect plans to use the investment from Dundon to scale its technology infrastructure and expand operations for the Surgeons of Excellence network, which includes pre-negotiated bundled payment rates to reduce surgery costs.
4. The funding will help EmployerDirect expand its employer base to additional Fortune 1000 companies. SurgeryPlus currently has procedures available across 34 major categories, including orthopedic, spine, cardiovascular, bariatric and general surgery.
5. Dundon Capital Partners ‘ Jon Zutter and EFO’s Bill Espring will serve on EmployerDirect’s board of directors, along with members of TEXO Ventures, which has been the company’s primary investor for the past several years.
More articles on medical billing:
7 trends in employer-sponsored health plans—Premiums up 203% in 15 years
Ministries offer healthcare coverage in lieu of insurance: 5 takeaways
Officials implore rural Ohioans to enroll in healthcare insurance
