Chamber Secures $8 Million in Funding to Empower Cardiologists to Transition into Value-Based Care
Washington, D.C., March 6, 2024 – Chamber, a technology-enabled cardiology solution, announced today an $8million seed round led by General Catalyst with support from existing investor AlleyCorp and participation from Company Ventures, American Family Ventures and CityLight. In an industry where the transition to value-based care remains limited among cardiologists, Chamber emerges as a dedicated partner, uniquely positioned to support and collaborate with cardiology practices.
Cardiovascular disease drives over $400 billion in annual healthcare expenditures, and Chamber aims to tackle this issue head-on by making the transition to value-based care more accessible. The funding will be utilized to further develop Chamber's technology, expand the cardiology network nationally, and grow the team.
"Cardiovascular care, a top cause of U.S. mortality and financial challenge for health plans, is expected to intensify with rising disease, aging populations, and complex supply dynamics,” said Chris Bischoff, managing director at General Catalyst. "Our partnership with Chamber aims to shift cardiology care toward value, enhancing access to high-quality care and lowering healthcare costs, which are core tenets of ourHealth Assurance thesis."
Chamber was founded in response to challenges expressed by cardiologists nationwide. Many voiced their frustration with the lack of technology to effectively care for their population, inability to negotiate with payers, and secure value-based deals based on quality. Chamber addresses this by equipping cardiologists with real-time insights, evidence-based guidelines, care teams, and contracting support to streamline workflows, enabling them to focus on patient care. The company’s mission is to empower cardiologists to operate in a value-based world where they are compensated for delivering the right care at the right time.
“Our objective is to provide unparalleled support to cardiologists as they navigate the transition to value-based care, putting them in control of their practice,” said George Aloth, co-founder and CEO of Chamber. “By doing so, we aim to provide patients with the highest quality of care, ultimately improving health outcomes for heart disease.”
Co-founded by George Aloth, former president & CEO of a BCBS health plan and kidney care VBC executive; Dr. Sameer Sheth, a cardiologist and digital health leader; and Dr. Jeffrey De Flavio, a co-founder of Pearl Health and founding CEO of Groups Recover Together, Chamber’s team has deep expertise in operating and navigating the complexities of value-based care. Chamber is the premier solution for both cardiologists and payers to improve the health outcomes for individuals with cardiovascular disease.
“The multi-trillion dollar shift to outcome driven reimbursement is accelerating across healthcare, especially in cardiology,” said Dr. Jeffrey De Flavio, co-founder and executive chairman of Chamber. “Cardiologists and insurers are seizing this opportunity to improve care and align reimbursement with our industry leading technology.”
Chamber is actively managing patients in the Mid-Atlantic region with ambitious plans for nationwide expansion. In addition to existing payer partnerships, Chamber is looking to rapidly grow the cardiology network. Visit www.chambercardio.com to explore opportunities for practices and payers to partner with Chamber and discover how you can join a dynamic and growing team.
