Join Club

Backed By Major Investors, Startup Aims to Transform Healthcare

Startup Monday header

Editor’s Note: Sponsored by Monday Properties and written by ARLnow.com, Startup Monday is a weekly column that profiles Arlington-based startups and their founders. The Ground Floor, Monday’s office space for young companies in Rosslyn, is now open. The Metro-accessible space features a 5,000-square-foot common area that includes a kitchen, lounge area, collaborative meeting spaces, and a stage for formal presentations.

Two years ago, every major healthcare provider was facing a massive change in the way they would operate when the Affordable Care Act was signed into law, and almost none of them knew exactly what was changing.

Frank Williams was the CEO of The Advisory Board Company — a healthcare consulting firm — when he and his colleagues realized the knowledge gap was not just a burgeoning problem in their industry, it was an emerging market.

“We were going through a massive change of service that was massively complex, and no one knew how to do it,” Williams said.

Evolent logo at its Ballston officeWith a $25 million investment from The Advisory Board and the University of Pittsburgh Medical Center, Williams helped launch Evolent Health two years ago, with a mission to help guide medical providers through the changes in America’s health care system.

Now, Evolent occupies two floors of the new 800 N. Glebe Road building in Ballston, and has a satellite office in San Francisco. Evolent serves MedStar Health in this area, IU Health in Indianapolis and Premier Health in Ohio, among other companies.

Even with a $25 million investment, Williams said the hardest part of launching Evolent was convincing healthcare systems that they needed Evolent’s services.

“We’re talking about a significant vision of transforming the whole organization,” Williams said. “How do you convince a MedStar to work with us?”

Ultimately, Williams said, it was not how much money Evolent raised, but from where. The backing of The Advisory Board and UPMC gave it credibility in the eyes of potential clients.

“UPMC is a $10 billion health system,” he said. “That gave us an immense street credibility.”

Evolent's headquarters in BallstonOnce Evolent signs on with a client, the work doesn’t get any easier. The big shift for providers with Obamacare, Williams said, is providers have to provide healthcare for a population at large, not at a client-by-client basis. Instead of caring for patients only while they are within a hospital’s walls, the new approach Evolent teaches is continual care, including calling patients to check in on their well-being.

Evolent uses massive sets of data to “engage patients with their health,” Williams said. It also helps companies with risk and financial management and sets up businesses’ infrastructure in the new system.

The new system has found resistance, but that comes with all change. Williams said once doctors, nurses and other healthcare workers see the difference — more time with patients, a focus on wellness as opposed to “filling a bed” — they embrace it.

“Everyone needs to think very differently,” Williams said. “You really have to invest time into it, but I think when people see they can spend a lot more time with their patients, they are excited. It’s very exciting.”

Workers at Evolent's Ballston officeEvolent was being conceived before the Affordable Care Act was even passed, and Williams said the months before it was signed into law were “very wobbly.” Even with the debate in Congress before the recent government shutdown and much of the rhetoric during the 2012 presidential campaign, Williams never thought his company’s future was in doubt.

“People had the view that they wouldn’t have to change [if Obamacare hadn’t passed],” Williams said. “Now, they would acknowledge that people are asking for value, and they would have anyway.”

Today, Evolent has close to 400 employees, many of whom work remotely with the clients in cities across the country. Last month, Evolent announced a $100 million investment from TPG Capital, a firm with more than $40 billion worth of global assets.

Now, Williams is focused on being a leader in the market that is brand new, but a part of the largest industry in the country, healthcare. Even though clients signing up for Evolent have to make a big leap of faith, demand has been high, Williams said.

“Market demand has been there more than we expected,” Williams said. “This is a huge potential transformation in the industry and hopefully much better care for all of us. If we’re successful, we’re truly transforming an industry.”

Recent Stories

Good Thursday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…

Last year, an attempt to broaden the Arlington police auditor’s access to police records quietly fizzled before reaching the public for discussion.

George Mason University’s new Fuse at Mason Square in Arlington, is poised to become a 345,000-square-foot collaborative and digital innovation space in the heart of the Rosslyn-Ballston Corridor. “As Mason expands in…

These tree care companies serve Arlington County and received Washington Consumers’ Checkbook’s top rating for quality (as reported by their customers in Checkbook’s surveys).

Award-winning drag queen Tara Hoot is bringing her Family Fun Story Time Brunch to Arlington at Freddie’s Beach Bar! Saturday April 6 at noon! Join Tara for songs, stories, puppets, bubbles and joy! It’s not just stories, it’s a SHOW that’s perfect for kids and kids at heart–fun for everyone! Plus a tasty brunch at Freddie’s! Click the link and make your reservations now! ❤️ 🫧 🌈

Submit your own Announcement here.

The Summer 2024 STEAM (Science/Technology/Engineering/Arts/Math) Fellowship application is now open! Apply by April 15 to be considered!

The STEAM Workforce Development Teacher Fellowship provides Arlington Public Schools (APS) high school, middle school, and elementary school teachers with opportunities to learn about workplace needs in STEAM-related fields and for them to use the experience to enhance student learning to match workplace expectations in a selected industry. STEAM Fellows participate in a three-week summer fellowship, receiving a $4,000 stipend upon completion.

Applicants planning to pursue a fellowship in the arts must demonstrate how they will build connections between the arts and science, technology, engineering, or mathematics.

Click the button to learn more, share, apply, and see the variety of fellowships completed in previous years.

Read More

Submit your own Announcement here.

Free Right-Sizing Workshop – How to Get Rid of Your…

Cody Chance and Dick Nathan of Long & Foster are hosting a free workshop at our office on Cherry Hill Rd. (formerly Lee Highway) on the topic of “down-sizing” Thursday, March 28 from 5:30-7:30. We have created a workbook with

Portofino Italian Wine Dinner, April 6, 6:30pm

Four course Italian dinner, paired with 2 wines each. The wines will be served “blind” and notes on each wine will be discussed. The event is coordinated with Elite Wine Importers and The Portofino Restaurant. The dinner is on Saturday,

×

Subscribe to our mailing list