Transcarent

California-based Transcarent provides a wide spectrum of 24/7 virtual care services, such as urgent care, lower-cost medications, behavioral health, at-home care, and second opinion consultations. Members can connect with doctors and obtain other medical services via Transcarent’s mobile app. 

In May 2022, the company launched a behavioral health offering for self-insured corporates, employees, and their families.

In September 2022, the company launched a pharmacy benefit offering for self-insured employers.

In March 2023, the company announced plans to acquire the virtual care platform and care offering of fellow virtual care provider 98point6 in a deal worth USD 100 million. The acquisition announcement noted 98point6’s self-insured employer business, affiliated physician groups, and a software license would be acquired. 

In May 2024, Transcarent launched WayFinding , a platform that merges AI technology with human assistance to help users navigate health-related matters. WayFinding simplifies an individual's healthcare journey by providing personalized advice, aiding in benefits navigation, offering clinical guidance, and ensuring the availability of virtual and local in-person care options. The key attributes of WayFinding include its tailored user experience, benefits navigation system, clinical guidance assistance, and digital plus in-person care module.

In September 2023, the company launched its National Independent Provider Ecosystem which aims to provide national employers and their employees with easy access to high-quality, affordable healthcare. As a part of the offering, Transcarent has partnered with 10 health systems across the US to offer patients a connected member experience, high-quality outcomes, and predictable, lower costs of care.

Key customers and partnerships

As of July 2024, the company was providing its services to more than 80 self-insured employers and covered over 1 million lives.

In June 2023, the company partnered with virtual orthopedic and musculoskeletal platform ViewFi to offer users orthopedic and musculoskeletal care via Transcarent’s platform. Through the partnership, ViewFi will provide care services for Transcarent’s Orthopedic Consult Solution, allowing patients to gain access to a virtual diagnostic team of orthopedic specialists and musculoskeletal-related physical therapy and pain management. These services will be accessible via Transcarent’s app, with ViewFi acting as a digital front door.

In January 2023, the company partnered with Cleveland Clinic to provide specialist second opinion consults to Transcarent’s members. Through the partnership, Transcarent members are able to consult with Cleveland Clinic’s 3,500 expert specialists, with over 550 subspecialties, for second opinions as part of Transcarent’s benefits with no out-of-pocket expenses in some cases.

In November 2022, the company partnered with Prescryptive Health to launch its pharmacy benefit solution, “Transcarent Pharmacy Care.” The solution allows Transcarent members to access Prescryptive Health’s network of over 60,000 pharmacies. Members are able to use digital prescriptions, compare prices, and choose a pharmacy to fill out prescriptions or deliver the drugs home.