AOL founder Steve Case has invested $100 million in his newest online venture, a D.C.-based company devoted to bringing more health information to patients.
The focal point of Case’s project is RevolutionHealth.com, a Web site designed to serve as a comprehensive source for health care information and social networking.
The company has some big-name backers behind it, among them former U.S. Secretary of State Colin Powell and former Fannie Mae CEO Franklin Raines, who have invested and sit on its board.
“What we’ve done is taken hundreds of great ideas that are out there on the Internet, and combined the tools, resources and information people need in one free, easy to use site,” Case said Thursday during an online news conference.
Some of the Web site’s features include forums for patients to discuss how treatments have worked for them, a rating system for doctors, and informational content from partners such as the Cleveland Clinic, which U.S. News & World Report ranked as one of the nation’s top three hospitals in 2006.
Revolution Health plans to make its money through advertising and specialized memberships that receive additional assistance.
It also is launching an affiliate service that helps individuals purchase health insurance.
The site is not a search engine, differentiating itself from competitors such as Healthline and Medstory.
Case said his frustrations with the nation’s health care systems inspired him to found the company.
RevolutionHealth.com stands out from its competitors because of its “one-stop shopping” approach, said Michael Cannon, director of health policy studies for the libertarian-leaning Cato Institute.
“There’s a glaring, growing demand for this sort of information because of more patients being in control of more of their health dollars,” Cannon said. “Consumer-directed care is driving this revolution.”
Case also has invested in RediClinic, a chain of walk-in health clinics located in big box stores and pharmacies.
Devon Herrick, health economist for the National Center for Policy Analysis, said retail medicine is a growing trend.
“These kind of things are just exploding right now,” Herrick said.
