Though the Medicare Advantage-focused insurance technology startup is smaller than rivals like Clover Health in terms of membership and revenues, this latest financing round places it ahead of, or at least on par with, several larger competitors with regard to total funds raised.

We find much to admire in the fact that Devoted is a payer obsessed with the unit economics of love–building positive patient experiences one family-member at a time.

Oscar, which was initially founded in 2012 to serve the emerging Obamacare insurance exchanges, decided to enter into Medicare Advantage after a $375 million funding round from Alphabet last year.

The Medicare Advantage startup positioned the layoffs as a way to focus more on developing specific expertise in Medicare Advantage and healthcare.

The new funding, led by by existing investor Greenoaks Capital, is simply the latest in a number of monster investments in insuretech companies looking to broach Medicare Advantage.

Medicare Advantage has been a lucrative space for potential experimentation in lowering healthcare costs due to its capitated model which allows for more flexibility in approach in providing care.

Devoted Health co-founders Todd and Ed Park spoke at the StartUp Health conference about why they created a company  “working manically to care for everyone like mom.”

A selection of the biggest payer stories in 2018, ranging from Amazon’s healthcare incursion to Medicare Advantage’s continued growth.

Led by former UnitedHealthcare CEO Bob Sheehy, Bright is one of a crop of insurance startups looking to disrupt the industry with better consumer experiences and closer integrations with providers.

The company has launched its Circle Plus product which adds three major New York providers – Northwell Health, Memorial Sloan Kettering, and Westmed Medical Group – to its network.

The Medicare Advantage startup pitches itself as a “payvidor” as it goes against a host of competitors including Bright Health, Clover Health and Oscar Health.

It’s time for entrepreneurs and purchasers to remember that the patient isn’t a component of a healthcare technology plan, they are the point of it. 

The business is poised to compete with Bright Health, which offers plans for individuals and Medicare recipients, and Clover Health, a health insurance startup that focuses on Medicare members.