Third Eye Health, Inc.

Third Eye Health provides telehealth services, focusing on post-acute care through immediate after-hours virtual visits by board-certified physicians, enhancing healthcare access during off-hours. Founded in 2014 and headquartered in Chicago, US, Third Eye Health, Inc. specializes in telehealth services. The company has completed 4 deals, with the most recent occurring on September 6, 2023.

The latest funding round was a Series B, raising USD 6. 000 mn, bringing the total amount raised to USD 6. 000 mn, and their current valuation is USD 37. 666 mn.

Dan Herbstman serves as the CEO, and he co-founded the company with Lucas Baran. Third Eye Health specializes in providing telehealth services, particularly focused on post-acute care. Their core offering includes immediate after-hours virtual visits conducted by board-certified physicians who are well-versed in the needs of patients transitioning from acute care settings. This service aims to address the critical gap in healthcare access during off-hours, allowing for timely interventions and reducing the need for in-person visits.

Third Eye Health targets skilled nursing facilities, assisted living centers, and health systems across various geographical markets, including the Midwest and select areas in the Southeast of the United States. The company's technology integrates care coordination, enhancing the clinical care process and ensuring that patients receive appropriate follow-up care in a timely manner. Third Eye Health generates revenue through a partnership model with healthcare providers, health systems, and payer organizations. The company's revenue structure is primarily based on subscription agreements, where clients pay for access to their telehealth services, which include virtual consultations and care management tools.

These subscriptions typically include tiered pricing plans based on the volume of services utilized, which may cover a range of services from basic consultations to comprehensive care coordination. Third Eye Health’s business transactions emphasize the B2B relationship, facilitating direct connections between their telehealth platform and healthcare organizations, optimizing patient care delivery while also ensuring streamlined billing processes for their clients. In September 2023, Third Eye Health, Inc. raised USD 6 million in Series B funding, which will be used to support the development and launch of new telehealth products aimed at enhancing care coordination.

The company plans to expand its services into new markets, targeting additional regions in the Southeast of the United States by the end of 2024.