Health Care Notes: Thyme Care shares cost savings findings

Thyme Care study shows cancer care cost savings 

Nashville-based virtual cancer navigation provider Thyme Care on Tuesday released data that shows the company’s software helped to reduce the cost of care for patients by 20 percent. 

In a retrospective study of Medicare Advantage patients, Thyme Care patients spent an average of $594 less in total costs per month than a control group. The company credits improved care coordination, proactive symptom management and access to social services in reducing costs, according to a press release.  

"This research serves as a powerful affirmation of the impactful strides we're making at Thyme Care to transform the cancer care experience and unify the oncology ecosystem,"  said Dr. Bobby Green, co-founder, chief medical officer and president of Thyme Care. "It also stands as a testament to the transformative potential of an independent, virtual navigator like Thyme Care to deliver substantial savings to payers, across a diverse spectrum of health care providers, be it community oncology practices, academic medical centers, or other health systems."

Thyme Care, founded in 2020, announced it had raised $60 million in Series B funding in August. The company joined the White House’s Cancer Moonshot initiative earlier this year.