Carrum Health

Carrum Health focuses on how surgical and cancer care is delivered, and aims to provide employers and patients with an efficient healthcare solution by reducing unnecessary procedures and aligning the interests of patients and providers toward better health outcomes​.

Distinguished by its first-of-its-kind digital Centers of Excellence platform, Carrum Health directly connects self-insured employers with top healthcare providers through a value-based care model. This model emphasizes bundled payment arrangements for surgeries and cancer treatments, aiming to streamline the fee-for-service system, which often leads to overprescription and excessive charges. The approach has demonstrated its efficacy by reducing unnecessary procedures by up to 30% and enabling employers to save up to 45% per episode of care​​.

In June 2024, the company expanded its solution to cover all cancer types, along with expanding its network to over 400 cancer facilities across the US. The company noted that it had plans to continue to grow its network in the future.

Key customers and partnerships

Carrum Health's clients primarily consist of self-insured employers seeking to manage their healthcare spending effectively by providing their employees with high-quality surgical and cancer care solutions.

The company has been expanding its reach in the healthcare industry by partnering with top cancer care providers across the country. As of May 2023, its partners included AccessHope LLC, City of Hope, GRAIL LLC, Memorial Sloan Kettering Cancer Center, and the University of Chicago Medicine. In 2022 alone, Carrum Health expanded its network by adding six new partners: CVS, Included Health, Accolade, Rightway, SWORD Health, and Virgin Pulse. Apart from extending reach, these partnerships also enhanced Carrum Health's service offerings, allowing it to cater to a broader range of healthcare needs​​.

Funding and financials

In May 2023, Carrum Health raised USD 45 million in a Series B financing round led by OMERS Growth Equity with participation from Revelation Partners and other investors such as Tiger Global, Wildcat Venture Partners, Cross Creek, and SpringRock Ventures. These proceeds were earmarked for expanding its oncology benefits offerings and scaling its surgical care service lines. The main goal was to provide employees with access to top-ranking doctors and providers across the country while assisting employers in managing healthcare expenditures.