Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield is partnering with LifeBridge Health to launch 1501 Health, an incubator for healthcare startups. 1501 Health will provide investment and resources to help early-stage companies, located regionally or nationally, develop their healthcare solutions.
- Incentives offered: Companies participating in the program will receive up to $100,000 in investment and have access to unique mentorship and support from the payer and provider experts, along with networking and educational events with other startups, investors, and stakeholders.
- The first one to form the cohort: Even Health was one of five startups named to be the first cohort of 1501 Health. “Our intention is trying to create more affordable and accessible points for folks to engage in discussion about … difficult transitions in life that people are facing,” CEO David Black said.
- The Start-ups joined to build mutual resources network: In addition to Even Health a few more joined the cohort of 1501 Health. Live Chair Heath, the local company that builds resource networks to address health disparities among people of color, BabyLifeAdvice, a Calabasas, California-based company working in maternal and infant care, Pair Team, a San Francisco-based company offering tools for providers around Medicaid, WellSet, a Venice, California-based company offering a platform for holistic wellness.
- Specialized Experts to aid for better outcomes: Each participating company will be advised by healthcare experts selected by associates at CareFirst and LifeBridge Health. The team of experts, known as their cabinet, will work with the startup to identify quarterly milestones for 1501 Health’s year-long program and support the company to reach those milestones through advisory and targeted projects.
- A pathbreaker for advanced healthcare solutions: “All our finalists presented unique, achievable solutions tackling some of the most pressing issues in healthcare, but the companies we chose offered solutions and services that were most strongly aligned to the 1501 Health strategic goals of reducing healthcare costs, increasing access and improving patient outcomes,” said Emily Durfee, 1501 Health’s co-manager from Healthworx, in a statement.