Search company, investor...
Sempre Health company logo

Sempre Health

semprehealth.com

Founded Year

2015

Stage

Series B | Alive

Total Raised

$25.79M

Last Raised

$15M | 1 yr ago

About Sempre Health

Sempre Health designs point-of-sale dynamic discounts and SMS-based engagement to incentivize healthy behaviors. By combining technology, behavioral science, and dynamic pricing, Sempre Health aims to boost all of its members’ medication adherence to exceed 80 percent of days covered

Headquarters Location

114 Sansome Street Suite 920

San Francisco, California, 94104,

United States

Missing: Sempre Health's Product Demo & Case Studies

Promote your product offering to tech buyers.

Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.

ESPs containing Sempre Health

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Healthcare / Healthcare Payers Tech

Companies in this market specialize in providing descriptive analysis of the future health and costs of patients and patient populations, and predictive analysis of how to maintain patient health to prevent costly clinical utilization. Some include care management functions or services to actively assist patients, while others focus on predictions and data analysis.

Sempre Health named as Challenger among 14 other companies, including Innovaccer, ClosedLoop.ai, and Clarify Health.

Missing: Sempre Health's Product & Differentiators

Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).

Expert Collections containing Sempre Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Sempre Health is included in 6 Expert Collections, including Loyalty & Rewards Tech.

L

Loyalty & Rewards Tech

353 items

Startups allowing global brands and local shops alike to offer tech-enabled loyalty and rewards programs to their customers. This collection includes categories across loyalty software, digital loyalty & rewards, AI-powered loyalty, blockchain-powered loyalty, and more.

F

Fintech

7,565 items

US-based companies

H

Health Plans & Benefits Management

733 items

Companies developing or offering digital platforms and services, including online insurance marketplaces, data analytics for claims adjustment, benefits administration, and payments systems, that help make private health insurance more affordable, navigable, or transparent.

D

Digital Health

13,118 items

Technologies, platforms, and systems that engage consumers for lifestyle, wellness, or health-related purposes; capture, store, or transmit health data; and/or support life science and clinical operations. (DiME, DTA, HealthXL, & NODE.Health)

D

Digital Health 150

150 items

The winners of the third annual CB Insights Digital Health 150.

H

Health IT

166 items

Sempre Health Patents

Sempre Health has filed 1 patent.

The 3 most popular patent topics include:

  • Autoimmune diseases
  • Monoclonal antibodies
  • Pharmaceutical industry
patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/9/2020

10/20/2020

Autoimmune diseases, Pharmaceutical industry, Monoclonal antibodies, Speech recognition, Statins

Grant

Application Date

3/9/2020

Grant Date

10/20/2020

Title

Related Topics

Autoimmune diseases, Pharmaceutical industry, Monoclonal antibodies, Speech recognition, Statins

Status

Grant

Latest Sempre Health News

Overcoming The “Cold Start” Problem in Healthcare

Jul 11, 2022

I write about the intersection of health care, technology and policy New!Follow this author to improve your content experience. Got it! Platform companies - those whose products enjoy network effects - have not only changed the way we live, but have upended industries, opened new markets, and completely revolutionized how business gets done. The majority of the top valued companies worldwide are platforms . And now, the “Platform Revolution” has finally started to drive change across the healthcare industry, where there is tremendous opportunity to leverage platform concepts to bring an antiquated industry into the digital age and solve some of healthcare’s biggest challenges. Network effects-driven platforms hold the promise to unlock tremendous value in healthcare. But they ... [+] must overcome the cold start problem first. getty The potential for platforms to unleash their power and improve a fragmented, broken healthcare system is undeniably great. But bringing their benefits to fruition relies on achieving virtuous network effects and overcoming the “cold start problem.” Network Effects: Why Platforms Are Becoming The Preeminent Business Model In Healthcare Digital health platforms have been catching fire for years now and funding has exploded in kind. Digital health platform investment hit nearly $12B in 2021, outpacing all digital health investments (platforms and non-platforms) just two years prior in 2019 ($8B). MORE FROMFORBES VETTED What’s driving this incredible uptick and market interest is the fact that platforms are uniquely well-suited to fix critical issues that have plagued the healthcare industry for years– from more effectively matching supply and demand for healthcare solutions and services, to lowering transaction costs and reducing information asymmetry. Platforms have also proven to be a valuation darling, growing and scaling faster than their non-platform counterparts and ultimately delivering more value and profitability to investors. Platforms are well positioned to solve some of the biggest problems in healthcare Summit Health, LLC The valuation premium that platforms achieve is explained by network effects. Network effects are used to describe a situation in which the value of a platform ultimately depends on the number of individuals or parties using it; the greater the number of users on either side of a network, the greater the network effect and value it delivers. The ultimate goal for any platform is to achieve the “flywheel effect,” where virtuous network effects alone are enough to sustain a network’s growth at a steady or accelerating rate. Getting to this point, however, is no easy task. Network effects may explain why platform companies are able to get so powerful, valuable and profitable once they achieve the “flywheel effect”, but it’s also what leads them fail at 2x the rate of their non-platform counterparts early on: the absence of a critical mass of other users can deter adoption. Achieving virtuous network effects requires that platforms overcome this “cold start problem,” and find creative ways to do so. Overcoming The “Cold Start Problem” In Healthcare In his book, The Cold Start Problem : How to Start and Scale Network Effects, Andrew Chen – general partner at Andreessen Horowitz and former Uber executive during the company’s high-growth, pre-IPO years— explores how some of today’s biggest platforms overcame the "cold start problem” by using network effects to launch and ultimately scale to billions of users. The majority of Chen’s recommendations are from platforms serving B2C constituents, or those that can tap into product-led growth - in which individuals or departments start using a product - to serve as a wedge into business revenue. Unfortunately, healthcare is a different beast, which means while many of Chen’s recommendations hold water as-is, others must be reconsidered. For instance, as healthcare is not a normal “good”, consumers generally do not make decisions in a vacuum; ideally, they make decisions with their providers. In addition, the regulatory environment and real-time clinical consequences mean there is less opportunity for individual procurement decisions in an organizational context, so product-led growth may be more difficult. And because of regulatory conditions, the interconnectedness of players, and incumbent inertia, we don’t see many examples of “virality”, and markets do not tip as quickly. In short, overcoming the cold start problem and achieving network effects can be incredibly difficult. That said, there are network-effects-building tactics from Chen’s book and beyond that digital health platform leaders should keep in mind in their quest to overcome the cold start, achieve the flywheel, and deliver outsized returns: 1. Start with transactions that solve problems for both parties: For a platform to solve an integration or common transaction problem, it needs to solve a problem for both sides of a commercial transaction. Ideon (formerly Vericred), for example, connects health insurance and benefits carriers with insurtech companies via its reusable APIs for more effective data exchange at scale with multiple partners. Ideon’s single integration point allows each side (health insurance carrier and insurtech) to focus more on their core businesses, and less on integration efforts. 2. Embrace the “ Mechanical Turk ”, i.e., “Flinstoning”: The idea behind Chen’s term “Flinstoning” suggests a little smoke and mirrors. In other words, if the product doesn’t have all the features automated that users might need, have employees provide some of those features behind the scenes. Take CoverMyMeds, for example. Before the company was able to digitally connect doctors with PBMs to fully automate via electronically process prior authorizations (PAs) for medication, it used a combination of back-end faxing to PBMs and a large staffed support center, where employees were actually manually processing the faxed forms on the backend. This was all masked to the clinician users, who simply interacted with CoverMyMeds’ website. This was of course not a sustainable approach and is no longer the case today, but the user experience CoverMyMeds was able to deliver in the beginning won out. The website and illusion of a seamless digital transaction kept current users on the platform and brought others to it, which helped the company achieve network effects, prove out its concept, and simultaneously build out the platform as intended. 3. Create (or leverage) a sense of exclusivity: Another approach that Andrew Chen mentions in his book is using an invite-only approach to create a sense of user exclusivity and thus scarcity and platform demand. While that’s generally not going to be a successful approach in healthcare, platform companies that have same-side network effects can benefit from it. Doximity, a doc-to-doc professional networking site, and Patients Like Me, a platform community of patients with rare diseases, are both use-case focused and cater to specific groups, which helped to cultivate the user bases for each. Importantly, any platform able to cultivate same-side network effects can enhance the value of its product/service to users, will likely see faster growth of its user base, and experience extreme network defensibility, given same-side network effects are so hard to replicate. 4. Start small and focus on “atomic networks”: Chen also writes about starting small and building atomic networks first. If platforms start small and with fewer sides, they can better identify stakeholder interests, develop features that map to those interests, and figure out the workflow orchestration to ensure both (or all) sides receive real value. Starting out smaller, and narrower reduces the number of potential failure points. A good example (and perhaps only example) in interoperability is e-prescribing. E-prescribing was Surescripts’ first use-case on its health information network. It worked well early on because it was a specific set of transactions with clearly defined partners, concrete transaction workflow orchestration between those parties, and a network operator to provide technical support to each side. Today, the network processes the majority of e-prescriptions in the country, in addition to a number of other healthcare transactions between/among providers, pharmacies and PBMs. 5. Leverage “operational virality”: Viral user-led growth typically doesn’t happen in healthcare, given consumers don’t behave the same way and decisions aren’t made in the same way or as quickly. However, there are ways to tap into viral audience-development concepts for healthcare at an operational level – by leveraging day-to-day relationships with other stakeholders to help steer interest. CoverMyMeds accomplished this when they saw stalled physician adoption on their PA platform. The company realized that it could grow its user base by going to pharmacies first, which is where most medication prior authorization headaches start. By offering pharmacies a free platform integration, with the promise of getting PAs resolved quicker, the pharmacies then pointed doctors to the site. And it worked – CoverMyMeds’ network grew both in number of users and type of users. What’s good for the goose was good for the gander. 6. Focus on aligning stakeholder incentives: Misaligned incentives plague the healthcare industry, one of the most highly-governed industries in the country. The platform companies that are likely to make the biggest difference are the ones that can find the points where interests align. Sempre Health, a platform that enables behavior-based, dynamic medication pricing, has done a great job at aligning incentives to fix a longstanding industry issue. Sempre Health’s two sides typically have conflicting interests – pharmaceutical manufacturers on one side (with an incentive to get patients on certain therapies) and health plans on another (just trying to manage costs). By developing a marketplace that connects typically “combative” parties, and agreeing on the rules of engagement, Sempre has been able to align competing interests and improve a market deficiency that benefits multiple stakeholders. Pharma clients win because the platform helps to get patients on therapies; health plans win because they can choose what they want to offer members; and patients win because they have increased access to therapies. 7. Piggybacking off of existing networks: Perhaps the most well-known example of one network piggybacking off of another is PayPal piggybacking off of eBay, whereby eBay transactions were made primarily through PayPal’s integration into eBay’s platform. By tapping into an existing payment platform, eBay was able to solve a problem for both buyers and sellers, which ended up being one of the reasons eBay acquired PayPal. In healthcare, a great example of piggybacking is Health Gorilla, a data aggregator platform that normalizes and standardizes healthcare data. Health Gorilla improves data access and is helping to solve for health data interoperability, by serving as the first connector between CommonWell and Care Equality. 8. “Come for the tool, stay for the network”: Chen’s example here is one of the best known consumer platforms: Instagram, which provided a valuable picture editing and posting tool, and grew its network of users – and value of its network and certain uses (influencers) – from there. One company taking this approach to network building and value generation is Zus Health , which has created an infrastructure for digital health companies to help them improve speed to market. The more clients that Zus Health gets, the more attractive its data sources become. Zus is also building out valuable tools for its clients, and the value of such tools will only become more powerful as they become part of standards development. 9. Build the killer app (or get it federally subsidized): The example Chen uses in his book for the “killer app” is Zoom, but the learning can be applied in healthcare. If a company can build a killer app, it can always be transitioned into a platform structure, so long as other parties find value in interacting with the platform’s users (or the data they generate) and there is a way to balance the interests of the original set of users with those of the new party. Electronic health records (EHR) vendors represent healthcare’s biggest unmet opportunity for platformization in this way. Although they certainly aren’t the “killer app”, EHRs that benefited from federal subsidies and now have a significant market footprint are well positioned to shift to a platform strategy; if not, they are likely to fade away into further irrelevance. 10. Create FOMO with a “Big Bang” of PR and communications activities: Digital health platforms should not overlook or underestimate the importance of doing PR and comms right at the outset to create FOMO (fear of missing out) and the interest that comes with it. Having a well thought-out and orchestrated PR and comms launch strategy can help drum up early interest and network-building momentum, including activities like collaborating with marquee clients on announcements, speaking opportunities or other thought leadership initiatives. There is, however, a downside to this approach: if there aren’t enough existing network users on the platform, then new adopters may be dismayed by the lack of value, and drop off the platform shortly after joining. Beyond The Cold Start Healthcare platforms are only as successful as the network effects they are able to achieve. Overcoming the cold start takes a level of scrappiness, creativity, and business acumen that not all platform companies will be able to deliver, especially in as complex and fragmented an industry as healthcare. But for the ones that push the envelope and strive to get it right, the network effects and industry impact can be incredibly virtuous. Stay up to date on the latest platform concepts and evolving industry imperatives by registering for The Platform Revolution Comes to Healthcare: A Deep Dive at the 2022 MIT Platform Strategy Summit and in particular the “Value Creation from Data” at 3:20pm ET on July 13, 2022, with panelists: Micky Tripathi – National Coordinator, Office of the National Coordinator for Health IT for Health IT Michael Byczkowski – Global Head of Healthcare, SAP Christian Howell – Vice President & General Manager, Medical Device and Diagnostic Group, Aetion Suchi Saria – Founder and CEO, Bayesian Health & Director of the Machine Learning, AI and Healthcare Lab, Johns Hopkins University Follow me on  Twitter  or  LinkedIn . Check out my  website .

Sempre Health Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Sempre Health Rank

Sempre Health Frequently Asked Questions (FAQ)

  • When was Sempre Health founded?

    Sempre Health was founded in 2015.

  • Where is Sempre Health's headquarters?

    Sempre Health's headquarters is located at 114 Sansome Street, San Francisco.

  • What is Sempre Health's latest funding round?

    Sempre Health's latest funding round is Series B.

  • How much did Sempre Health raise?

    Sempre Health raised a total of $25.79M.

  • Who are the investors of Sempre Health?

    Investors of Sempre Health include Rethink Impact, Industry Ventures, The Blue Venture Fund, UPMC Enterprises, Lifeforce Capital and 5 more.

  • Who are Sempre Health's competitors?

    Competitors of Sempre Health include Sidecar Health and 1 more.

Compare Sempre Health to Competitors

Prescryptive Health Logo
Prescryptive Health

Prescryptive Health empowers consumers to take charge of their medication costs with a prescription intelligence platform. Prescryptive eliminates the middlemen from the drug market by delivering to consumers a simple, mobile experience that integrates in real-time with their benefit plans and healthcare providers. The company was founded in 2017 and is based in Redmond, Washington.

EnableComp Logo
EnableComp

EnableComp offers a platform for veterans administration, workers' compensation, motor vehicle accident/TPL, and out-of-state Medicaid claims, as well as ERISA appeals. It also offers services for A/R management, zero balance recovery, and commercial and government denials. The company was founded in 2000 and is based in Franklin, Tennessee. On December 20th, 2021, EnableComp merged with Argos Health.

Hint Health Logo
Hint Health

Hint Health provides direct primary care technology. The company offers an industrial-grade practice management platform that helps in fixing the healthcare systems by restructuring the way that care is delivered, assisting organizations to design and implement direct primary care programs. The company was founded in 2013 and is based in San Francisco, California.

nirvanaHealth Logo
nirvanaHealth

nirvanaHealth is a national full-service pharmacy benefit manager that leverages a collaborative cloud platform to deliver integrated Pharmacy Benefits Management (PBM) services that reduce overall pharmacy costs, optimize specialty spend and reduce avoidable drug-impacted medical costs. In addition, the company offers a global pharmacy risk partnership model standing with plan sponsors, health plans, accountable care organizations (ACOs), exchanges, state Medicaid programs, and employer groups.

C
CCX

CCX is developing a technology platform to enable pharma and payers to speed up their pricing negotiations, getting drugs to patients in need quickly. The company's model allows parties to confidentially explore performance- and indication-based pricing, which better aligns value with market dynamics. The company was formerly known as PharmaCXX, and changed its name to CXX. The company was founded in 2017 and is based in Boston, Massachusetts.

Hoy Health Logo
Hoy Health

Hoy Health is a health-tech platform that provides a comprehensive and integrated bilingual healthcare support ecosystem to medically underserved patients offering solutions relative to medication access, medication adherence, telehealth, and chronic condition management programs.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.