Doctor On Demand Raises $75M to Expand Comprehensive Virtual Care Platform

Doctor On Demand Raises $75M to Expand Comprehensive Virtual Care Platform

What You Should Know

– Doctor On Demand raises $75M in Series D
funding led by General Atlantic to expand comprehensive virtual care.

– Doctor On Demand is seeing record usage
this year – up 139% – for COVID-19 screenings, routine health issues, chronic
conditions and behavioral health.

San Francisco, CA-based Doctor On Demand, today announced it
has raised $75 million in Series D funding led by General Atlantic, a leading
global growth equity firm, with participation from existing investors. The
funds will be used to accelerate Doctor On Demand’s investments in growth and
further expand access to high-quality, comprehensive virtual care for patients
nationwide.

Founded in 2012, Doctor On Demand offers immediate,
video-based access to top physicians and psychologists for just $40 per visit,
with no subscription fees for partners via the iPhone, iPad,Android and
desktop.  With over 98 million covered lives and a 4.9/5 patient
satisfaction rating, Doctor On Demand is the preferred
virtual care provider of consumers, health plans and employers. The company’s
unmatched technology platform and clinical model of fully employed providers
gives patients a continuum of care and the ability to build trusted, personal
relationships with their providers. 

Recent Traction/Milestones

Following robust growth in 2019, Doctor On Demand
experienced accelerated momentum in the first half of 2020, with the COVID-19
pandemic driving increased demand for the company’s integrated medical and
behavioral health services. The company more than doubled its covered lives in
the past six months, propelling Doctor On Demand to its 3 millionth virtual visit.
In response to the public health emergency, the company mobilized quickly to
roll out its critical virtual medical services to 33 million Medicare Part B
beneficiaries across all 50 states, just weeks after the Centers for Medicare
and Medicaid Services (CMS) expanded coverage to allow for the reimbursement of
telemedicine visits for this high-risk patient population.

While COVID-19 has driven a sharp increase in utilization of
Doctor On Demand’s urgent care and behavioral health services, more than half
of the company’s 2020 future growth is focused on the continued expansion of
its Virtual Primary Care offering. This service enables health plans and
employers to deliver cost-efficient, comprehensive virtual care inclusive of
integrated behavioral health, 24/7 everyday & urgent care, and chronic care
management to their populations while reducing costs.

“In April 2019, Humana and Doctor On Demand launched On
Hand™, a first-of-its-kind health plan that centered on comprehensive virtual
primary care,” said Chris Hunter, Segment President, Group and Military
Business at Humana. “This new plan design represented a paradigm shift in
healthcare, and demonstrated that our members can and will build long-term
relationships with primary care providers and care teams in a virtual-first
care setting.” 

“Even before the pandemic, we recognized the importance of
providing integrated, virtual medical and emotional health care for our
associates,” said Adam Stavisky, SVP, US Benefits at Walmart. “Our early
decision to partner with Doctor On Demand helped us respond quickly as the
crisis hit, allowing us to immediately meet the care needs of our associates
and their families where and when they need it.”