Coral is a direct contracting marketplace that connects employers with healthcare providers to enable transparent pricing and streamlined payment for services. The platform simplifies bundled payment arrangements and facilitates direct contractual relationships, reducing administrative costs and improving patient access to care.
Funding
$5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The current healthcare procurement model for employers and providers is characterized by a lack of pricing transparency and fragmented contracting processes. This opacity leads to escalating costs for employers and limits providers' ability to negotiate directly, hindering efficient payment and patient access to care.
Solution
Coral operates a direct contracting marketplace that connects employers and healthcare providers to facilitate transparent pricing and streamlined payment. The platform enables employers to gain visibility into healthcare expenditures and allows providers to establish direct contractual relationships, thereby reducing administrative overhead and improving patient access to services. Coral provides a standardized contracting framework and integrated communication tools designed to simplify bundled payment arrangements and scale direct contracting initiatives.
Target Audience
The primary target audience includes self-insured employers, multi-employer plans, HDHP plans, healthcare sharing organizations, and brokers/plan advisors seeking to optimize healthcare procurement and patient experience.
Features
- Direct contracting marketplace for healthcare services, enabling transparent pricing and efficient payment.
- Standardized contract framework for bundled payment programs and direct contracting relationships.
- Communication platform for managing referrals and coordinating care between employers, providers, and TPAs.
- Data analytics providing employers with visibility into healthcare spending and provider performance.
- Provider portal for direct negotiation with employers and management of service pricing.
- Network includes over 3,000 imaging centers, 80+ hospitals, and 1,400 independent ASCs across all 50 states.
- HIPAA Verified and SOC 3 Certified for data security and compliance.
- API for integration with Third Party Administrators (TPAs) and Care Management Companies.