July 7, 2009
VC Firm, Second Avenue Partners Leads $7.5 Million Investment in Qliance Medical Management
Washington Stateâ€™s insurance-free primary care provider, Qliance Medical Management, announced today it had just closed a $7.5 million in a round of venture funding led by Second Avenue Partners, which pitched in $4 million. Other investors that participated in this round of funding include New Atlantic Ventures and Clear Fir Partners, who pitched in the additional $3.5 million together, making this round of funding total out to $7.5 million.
Founded in 2006, Qliance Medical Management is a company that runs insurance-free primary care clinics within the state of Washington, primarily in the Seattle area. Qliance offers people of all ages and all walks of life the primary care needed in their primary care clinics. Furthermore, Qliance allows access to all preventative care and treatments to anyone, regardless of their income for very reduced prices that can range from $39 to $79 depending on the age of the patient. Qliance also does not discriminate people due to preexisting medical conditions and offers care seven days a week. What makes Qliance Medical Management so revolutionary is that it is a primary care provider that provides top quality basic medical care and patients and employers can save over 20 to 50% of their medical costs, compared to the costs of a regular healthcare provider. Furthermore many healthcare providers do look for patients with insurance, leaving many people who cannot afford health insurance being deprived of the medical care they need.
According to Nick Hanauer, managing partner of Second Avenue Partners, the direct primary care model, or insurance-free primary care model, that Qliance provides people within the state of Washington is one of the most important transformation option to healthcare reform. The innovative healthcare model that Qliance provides reduces costs at an amazing rate for both businesses and individuals.
Qliance Medical Management also allows for in-hospital treatment for a slightly higher fee, but still affordable compared to the hospitalization costs in a conventional hospital without insurance coverage. Furthermore the benefits that Qliance offers includes no preexisting conditions, unhurried 30 to 60 minute office visits with a primary care physician, same or next-day care for more urgent medical attention, clinics open 24-7 along with round-the-clock cellphone access to physicians, onsite x-ray and lab work, and a first fill pharmacy.
Furthermore, Qliance does not abandon its patients in the rare incidents where an outside specialist or hospitalization might be required. Should these medical services need to be rendered, Qliance physicians and nurse practitioners serve a Qliance patient as his or her medical home and will coordinate all other care and services. Qliance also provides its patients a low cost hospitalization insurance policy to cover the necessary catastrophic hospital care for emergency room care or trauma care, along with treatments for cancer and other serious illnesses.
According to the cofounder and chief medical officer of Qliance Medical Management, Dr. Garrison Bliss; most people donâ€™t know that health insurance should not be necessary for most of the primary care needed. Qliance is efficient because it operates without the costly insurance overhead.
Currently, Qliance has one clinic in downtown Seattle, Washington and has plans to open a second clinic in Kent, Washington. Furthermore, Qliance is also having discussions with some major medical groups to open clinics in other parts of the United States.
Second Avenue Partners is a vc firm that is based in Seattle, Washington and invests in early stage companies that have a business model that can transform their respective industry. Some other companies in Second Avenue Partnersâ€™ portfolio include CoolSpotters, GotVoice, Fantasy Moguls, RealSelf, Inkd, and others.
For more information about Qliance Medical Management, click here.
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