Risalto was founded in 2016 to offer white glove concierge service to patients with musculoskeletal disorders who often do not receive appropriate care. It is an upstream alternative to utilization management for self-insured employers. The company works with physicians, surgeons, and physical therapists to change the pattern of care. Risalto’s platform uses big data to identify the best providers, and create a patient-centered journey that helps patients get better, faster.
As a result of our thematic research into Patient Navigation, Network and Referral Management, Health Catalyst Capital led financings in Risalto in 2018 and 2019 to support the proof and proposed scale-up of Risalto’s musculoskeletal platform, which has been in a pilot test with a major employer. We were attracted by the large addressable market and differentiated approach. Since our initial investment, health plans have been reevaluating traditional prior-authorization programs to explore more effective and member-friendly approaches such as Risalto’s. Also, Risalto is now exploring verticals beyond musculoskeletal care where navigation to the right modality and provider can make a big difference in cost and outcomes. HCC’s InsureTech-focused Operating Partners have worked with Risalto on extensibility to a number of new use cases for the same platform such as Disability, Long-term Care, and other lines of insurance with high musculoskeletal care related costs.