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Read more...When it launched in 2017, Hims & Hers was one of the first companies to change the way people paid for their healthcare: by going direct-to-consumer, it offers a subscription-based model so that patients could pay a flat free to treat conditions relating to skin care, sexual health, hair loss, and mental health.
While the company's primary method of offering care is virtual, connecting patients to a physician through its telehealth platform, who then send prescriptions to the patient's door with no delivery fee, it has also begun expanding into in-person care as well through a series of partnerships, including one earlier this year with Carbon Health that expanded it to California.
On Friday, the company announced its latest partnership, this time with ChristianaCare, a network of private, non-profit hospitals, to offer patients both virtual and in-person care.
This expands the Hims & Hers’ partnership network into four new states: Delaware, Maryland, New Jersey and Pennsylvania, and 10 states in total, along with Washington D.C. In addition to Carbon Health, Hims & Hers has also partnered with Ochsner Health in Louisiana; Mount Sinai Health System in New York; and Privia in the District of Columbia, Maryland, Texas, Georgia, and Virginia.
As per this partnership, medical providers on the Hims & Hers platform will be able to connect patients with ChristianaCare’s Center for Virtual Health and then make referrals to primary and specialty care provider network when deemed appropriate; that will include if/when a patient has a complex medical history, requires additional in-person follow up or evaluation, or needs care for a condition that the Hims & Hers platform doesn't support.
“ChristianaCare stands for excellence in healthcare and is rated as one of the best hospitals in America, making them an excellent and trusted partner in ensuring a high-quality care experience throughout a consumer’s journey,” Melissa Baird, Chief Operating Officer at Hims & Hers, said in a statement.
“Healthcare consumers today want easy-to-use, on-demand access to high-quality care both digitally and in-person, so our proprietary platform, coupled with partnerships such as ChristianaCare, help them smoothly navigate more of their healthcare needs.”
The Wilmington, Delaware-based ChristianaCare has a network that includes primary care and outpatient services, home health care, urgent care centers, three hospitals, a freestanding emergency department, a Level I trauma center and a Level III neonatal intensive care unit, a comprehensive stroke center and regional centers of excellence in heart and vascular care, cancer care and women’s health.
Its Center for Virtual Health combines primary care, specialty care and urgent care that can be accessed across any digital device, offering communication in real-time, 24/7, through video chat, phone, or text.
For ChristianaCare, the benefit of partnering with a platform like Hims & Hers is that it gains access to a broader patient population.
“ChristianaCare is thrilled to partner with Hims & Hers to make high-quality health care available to its customers who have complex needs or need additional services that Hims & Hers does not provide,” said Sharon Anderson, ChristianaCare’s chief virtual health officer and president of ChristianaCare’s Center for Virtual Health, in a statement.
A subscription fee on Hims or Hers is typically around $20 to $30 per month, and patients pay for everything out of pocket; the company does not accept insurance, though it does say that its products "are available at 50-80% off retail cost, making them more affordable and accessible to consumers."
Hims & Hers stock dropped 5.20% on Friday to $5.38 a share.
The company will use the funding to broaden the scope of its AI, including new administrative tasks
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