Dallas-based specialty care platform Employer Direct Healthcare has rebranded as Lantern and expanded its leadership team and advisory board, including naming Dr. Jason Tibbels as chief medical officer. The new CMO, formerly the chief quality officer at Teladoc, joins Lantern as the company launches a new infusion therapy product offering.

The moves come after a significant financial milestone: In December, the company received a $92 million investment from Insight Partners, pushing its valuation to $1 billion.

“We’ve reached a pivotal moment as a company, having built the most accessible surgical center of excellence solution for employers, as well as the only complete cancer care program on the market,” Lantern CEO John Zutter said in a statement. “Like surgery and cancer treatment, infusion therapy is an area where employees are not getting the best care—and employers are not getting the best deal.”

Zutter, who was recently named as a winner of the Entrepreneur Of The Year 2024 Southwest Award, says it’s time that changed. “With our new brand, new infusion offering, and top clinical talent joining our team, we’re delivering on our promise to ensure top-tier specialty care isn’t reserved for the lucky few,” he said.

For large employers, the company said, the price of covering infusion therapy continues to rise because of the high cost of delivering infusions in a hospital setting.

Despite the rise of ambulatory infusion centers and safe in-home options, hospitals remain the default, costing employers upwards of $75,000 per employee a year on average for those undergoing treatment for cancer or autoimmune disorders, according to Lantern.

The company said that studies show that low-risk patients receiving infusions in the home, or in a high-quality ambulatory infusion center, leads to outcomes as good or better than the hospital.

On why a hospital setting isn’t always the best option

New CMO Tibbels says the hospital setting—while necessary for higher-risk patient—isn’t always the best option for everyone. “Beyond higher cost and inconvenience, hospital nurses often have nine or more infusion patients at a time, and there’s increased risk of contracting an illness or infection, especially for those who are immunocompromised,” he said in a statement. “For many patients following routine, low-risk treatment plans, ambulatory infusion centers or at-home care is an equally safe option.”

He added: “That’s why Lantern’s nationwide network is comprehensive in its coverage of all commonly infused medications and flexible in its approach of either a home or clinical setting.”

Lantern Infusion Care said that via partnerships with leading infusion therapy providers across the country, the company gives members nationwide access to top-tier facilities within driving distance that offer more focused nurse attention, as well as at-home, 1:1 care when clinically appropriate.

Savings ‘upwards of 50%’

By negotiating prices at the individual drug level and contracting across a range of site-of-care alternatives, Lantern said it and its partners can save employers upwards of 50% compared to what they typically pay while delivering care safely.

In his new role as chief medical officer, Tibbels will oversee Lantern’s growing clinical team. Per the company, Tibbels is an expert in patient safety and clinical quality who serves on the Texas Medical Board and the standards committee of the National Committee for Quality Assurance (NCQA).

“I’ve spent my career in medicine, and I’ve seen first-hand how difficult it is to identify the best providers and connect people with them, particularly when it comes to specialty care,” Tibbels said in a statement. “Lantern’s approach is incredibly effective, and I share the company’s commitment to building a future where the best workforces have access to the best healthcare.”

This clinical team growth includes Dr. Raymond Hwang, who recently was named vice president and medical director for Lantern Surgery Care, previously known as SurgeryPlus. Before Lantern, Hwang was the senior medical director of Hinge Health.

Hwang is an assistant clinical professor of orthopedic surgery at Tufts University School of Medicine and is a practicing spine surgeon at New England Baptist Hospital.

The company said that Tibbels and Hwang will also work closely with Lantern’s medical advisory board, which recently expanded to include Dr. Troyen Brennan, former EVP and chief medical officer of CVS Health. Brennan is an adjunct professor at the Harvard Chan School of Public Health and a member of the Institute of Medicine of the National Academy of Sciences. Brennan also served as chief medical officer of Aetna Inc. and president and CEO of Brigham and Women’s Physicians Organization.

“With Lantern’s focus on curating the top healthcare providers in the country, they’re able to make a meaningful impact for their members, greatly improving quality while lowering costs,” Brennan said in a statement.

A mission, a passion

Brennan calls helping people avoid costly, unnecessary procedures a passion. “I appreciate the great work Lantern is doing here, too,” he said in a statement. “I’m thrilled to join the company’s growing medical advisory board and help ensure the clinical standards remain rigorous as we continue to expand access.”

Lantern said its curated network of specialists is five times more accessible than any other independent solution, meaning care is available to most members within driving distance.

And the company said that with its expansion to infusion therapy—providing nationwide access to both in-home and facility-based options—Lantern is going a step further to redefine what it means to have access to the very best care.

Lantern said it has facilitated over 60,000 care journeys, including nearly 40,000 in the past two years.

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