by Mohamad MakhzoumiSep 20, 2023
Musculoskeletal care can be a pain in the neck (or back)—quite literally! We’ve all experienced or know someone who has suffered from back or neck pain at some point—many of us have also experienced the pain of ineffective and expensive treatment. At NEA, we believe that everyone’s conditions and discomforts are unique and need to be treated holistically and humanely, which is why we are thrilled to announce our Series A investment in Vori Health. Vori is a virtual and in-person musculoskeletal healthcare provider that treats the whole person. Its tech-enabled platform is built by a team of doctors, nurse practitioners, physical therapists, health coaches and nutritionists, all focused on delivering evidence-based therapies to improve holistic wellness.
Musculoskeletal (MSK) conditions affect 54% of the U.S. population and are the world’s leading cause of disability. These conditions result in a staggering $300B in direct costs. Despite the significant impact that musculoskeletal conditions have on society, the treatment of these conditions is disjointed (no pun intended), difficult to access, and often not evidence-based. Primary care providers are not specifically trained to treat MSK conditions, and often refer patients to surgeons to triage non-operative care. Most surgeons are also not trained in non-operative care. Imagine being referred to a heart surgeon the first time you experience chest pain—that is the norm with MSK care.
Many types of providers are involved in musculoskeletal care—including primary care providers, physical therapists, ER providers, surgeons, imaging specialists, chiropractors and athletic trainers. However, these providers do not talk to each other. This fragmentation and lack of communication leads to poor patient experience and outcomes—about 30% of all ER and hospital visits are due to MSK conditions. As with our past investments in massive, fragmented verticals such as imaging (Radiology Partners) and chronic kidney disease (Strive Health), we have been closely tracking the MSK space.
Vori Health was founded by CEO Ryan Grant, MD who brings rich clinical experience with his background in neurosurgery and as a co-founder of Nomad Health. Vori stitches together the fragmented MSK care experience into an integrated, tech-enabled care model with multidisciplinary care teams including NPs, MDs, physical therapists, health coaches, and nutritionists.
Some additional reasons that we believe Vori is primed to address the issues within MSK care:
Compelling Clinical Proposition: Vori’s platform offers a whole-person care experience for patients guided by evidence-based medicine. It involves both virtual and in-person care through partnerships with brick-and-mortar providers. We tried the Vori product ourselves and loved its high-touch, end-to-end approach, including telehealth visits, health coaching and care navigation, physical therapy, prescriptions, imaging and lab ordering, personalized care plans, nutrition, and progress tracking. Vori combines a highly effective clinical model with wellness and fun. Social connection and community are a core part of the platform, helping to keep patients engaged at each step.
Value-Based Model: Aligning with its full-stack, high-touch clinical model, Vori can operate in both fee-for-service and value-based settings. Given our past experience building and investing in value-based companies such as Strive, Everside, and Bright Health, NEA is excited to partner with Vori to build a best-in-class value-based care model for MSK.
Exceptional Founding Management Team: Co-founders Ryan Grant, CEO, and Mary O’Connor, CMO, are surgeons by training (Geisinger and Yale Neurosurgery, Mayo and Yale Orthopedic Surgery, respectively) with strong clinical backgrounds; Sri Muthu, CTO, brings more than 20 years of technology experience and was formerly Head of Tech at Zelle; Michelle Lee, COO, brings more than 20 years of strategy, operational, and product experience across healthcare payors, providers, drug distribution, and healthcare technology, including at McKesson and Honor. We are excited about the MSK-specific clinical, healthcare, and technology expertise that the team brings in shaping an effective and scalable clinical model.
This financing will provide the capital to scale Vori’s clinical and technology teams and launch in new markets. We are thrilled to be partnering with Vori as it launches with various provider groups and payors across the country to transform care for patients with musculoskeletal conditions.
If you are interested in joining the team, check out open positions here.