How Amino is defining a new industry standard for healthcare transparency
We’ve raised $25 million in Series C funding, and we’re inviting industry partners to join millions of consumers on our healthcare transparency platform
Eighteen months ago, we launched Amino with the goal of helping consumers make confident healthcare decisions. Since then, we've assembled a database that includes more than 220 million people, 9 billion health insurance claims, $1.8 trillion in medical bills analyzed, thousands of facilities, and nearly every doctor in America. In the past nine months alone, we developed 58 million personalized cost estimates for more than 90 common procedures, including MRIs and X-rays. We’ve also reached several goals related to user growth and satisfaction, including being named Consumer Reports’ top healthcare search experience.
Today, Amino is setting a new standard in healthcare transparency for everyone, marking the next phase in the industry's transition to a consumer marketplace. To support our efforts, I’m excited to share that Amino has raised $25 million in Series C funding, led by Highland Capital Management, and including Accel, Aspect Ventures, Charles River Ventures (CRV), Northwestern Mutual Future Ventures, Pilot Wall Group, and other notable investors.
We’re launching Amino for Providers and Amino Plus for Employers today, as well as opening up access to the Amino Data Platform for our provider and employer partners. Our goal is to deliver a single source of truth for American healthcare, and this is our biggest release yet. Now we’re one step closer to achieving our vision—and it couldn’t come at a better time.
The past few years have been tumultuous for the American healthcare system. Costs and deductibles are rising, coverage is uncertain for many, and unsustainable tradeoffs are being made. As consumers become increasingly burdened, they’re looking for a better way to navigate it all—64% of Americans would like to lower their healthcare costs, but don’t know how. The system is simply not built to support them, and healthcare has become the biggest personal finance issue in the country.
This is why we’re partnering to provide the best healthcare search experience to communities that people turn to every day—including nonprofits like the National Stroke Association and American Liver Foundation, and media resources like Healthline and Men’s Health Network.
It’s why we’re launching Amino Plus for Employers—empowering the largest group of healthcare consumers in the country (177 million of us) with premium accounts on Amino. Employees can benefit from in-network search, bookings, and cost estimates customized to their insurance plan, all integrated into Amino’s broad consumer reach.
And it’s why we’re releasing Amino for Providers—so hospital systems and physicians, whose top priorities include delivering on our rapidly rising consumer expectations, can give their patients the best user experience in the market while getting real-time insights from our data.
Amino is making it easy for everyone to access actionable health data, no matter how they interact with the healthcare system. But as we knock down barriers and expand our business, we’re also defining a new industry standard for transparency.
We believe everyone—whether they’re a consumer, doctor, hospital, employer, or payer—should have access to the same information about healthcare access, cost, and quality. So today, we’re also introducing the Amino Data Platform, making 9 billion real-time insurance claims available in an on-demand technology platform.
In the next few years, I envision a future where we’ll see healthcare improve out in the open, in real-time, on consumers’ terms. In a world where we can manage our money, social lives, and careers online, it’s about time we can find accessible, actionable information about what’s most important: our health.
Our vision is to build a reliable consumer marketplace that’s founded in transparency—one that offers the same delightful experience that you expect from everything else in your life. Healthcare is complicated, but I know we can get there. It wasn’t too long ago that buying a home was just as much of a nightmare. Zillow (my alma mater) began by publishing data on home prices. That information brought transparency to a broken industry, and now, Zillow is one of the biggest online real estate marketplaces, helping 160 million people each month make home buying decisions.
It just so happens that healthcare is 10 years behind. But at some point, we have to stop giving healthcare a pass. We have to demand a better system.
Politically, there are going to be a lot of different tactics to “solve” healthcare. That’s the macro view—and I have no doubt that it will play out over decades. The micro view is individuals and families who are struggling to get the information they need to make confident choices about their care. And that’s where Amino comes in. We believe we can help everyone access the information they need (like their deductible) and do everything they need to do (like book appointments), no matter what happens with healthcare policy.
We believe transparency is the way forward to a vibrant healthcare marketplace, and we're excited to begin a new chapter of Amino as we drive this industry in that direction.