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Jefferson Health partners with venture capital firm on digital health

Jefferson Health on Monday announced an innovation partnership with General Catalyst, under which the not-for-profit health system will be able to tap into a set of technology companies to support its digital transformation efforts.

Philadelphia-based Jefferson Health will have access to companies in General Catalyst’s health assurance network, a group that comprises healthcare technology companies that the firm’s invested into. Health assurance describes a move away from so-called “sick care” and toward a healthcare system that provides more proactive and preventive patient care.

Jefferson Health will tap into the network to implement and co-develop tools that improve patient experience, ease its transition to value-based care and diversify its revenues steams, among other objectives.

The partnership builds on previous collaborations between Dr. Stephen Klasko, Jefferson Health’s CEO and president of Thomas Jefferson University, and Hemant Taneja, managing partner of General Catalyst. Last year, Klasko and Taneja co-authored a book on health assurance and the need to move toward a system that prioritizes preventive care. Klasko announced last week he will retire at the end of the year.

General Catalyst’s health assurance network includes software companies like Commure, Olive, Tendo and Transcarent.

The partnership is part of General Catalyst’s effort to reimagine how a venture-capital firm operates, not only funding companies, but also helping to build them.

General Catalyst was the top digital health investor in 2021’s third quarter, according to data from Mercom Capital Group, participating in nine funding rounds. Outside of healthcare, General Catalyst has invested into companies like Airbnb, Grammarly, Kayak, Snap and Warby Parker, and was also an early investor in Livongo, which has since been acquired by Teladoc Health.

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