Qliance Medical Management raises another $6M Bizjournals.com
Qliance Medical Management Inc. has raised another $6 million in venture funding as it prepares to expand into California.
Seattle-based Qliance’s inexpensive “direct-care” model, which shuns health insurance, has survived recent passage of the federal health insurance law. The firm, in 2007, began selling its services to individuals, but small businesses — and now large ones — have been showing increasing interest.
“That’s the fastest growing segment for us now,” said Qliance CEO Norm Wu.
In the past year, Qliance has signed up some 50 small businesses, which have reported “savings of up to 50 percent over traditional insurance plans,” according to the company. Now large businesses and unions are negotiating with Qliance.
“We are in discussions with large health-care purchasers,” Wu said. “We’re seeing a lot of interest from them.”
This makes Qliance all the more attractive to venture investors, who see the Qliance model as a way to improve health care and make it more affordable while at the same time reducing costs. Under this model, consumers pay a set monthly fee for all primary care, with all the trimmings, and buy high-deductible health insurance to protect them from the cost of severe illnesses or accidents. Qliance charges a flat monthly price ranging from $44 to $84, depending on age.