July 24, 2024

Kins Raises $7 Million Series A and Inks Strategic Investment to Bring Kins to New Markets

Investment will accelerate Kins’ hybrid physical therapy expansion into Washington, D.C.; Maryland and Virginia

For far too long, patients who need physical therapy have struggled with an outdated and inconvenient care model. Between the hassles of filling a prescription, driving to a clinic while suffering from pain, and sitting in crowded waiting rooms, it’s no surprise that 70% of patients fail to complete their full course of care.

In 2021, Kins sought to disrupt that model with an evidence-based, personalized approach to physical therapy. Built at Redesign Health, Kins offers 1:1 hybrid physical therapy that combines the best of in-person care with the power of digital access and engagement.

Since its launch in New York and Massachusetts, Kins has served thousands of patients. The company’s results surpass those of traditional in-person clinics and newer digital-only startups:

84% of Kins patients successfully complete their full course of care
3x industry average for quality-of-life and functional improvements
Pain reduction results are 2x the industry average

Taking personalized PT to the next level

Building on this momentum, Kins is now expanding into new markets, backed by a strategic investment from Healthworx Ventures, the investment arm of CareFirst BlueCross BlueShield. The investment is part of a $7 million Series A financing round, which includes additional investors W Health Ventures, Asahi Kasei Ventures, and Redesign Health.

“Kins is transitioning the delivery of physical therapy in today’s digital age,” says Christopher George, Investment Manager at Healthworx Ventures. “We are excited by the potential of the company’s hybrid care model to improve access and outcomes for patients, while significantly reducing MSK costs for payers.”

Kins will use the funds to accelerate the development of its patient-driven platform and expand into three new markets: Washington, D.C.; Maryland and Virginia.

“This investment is a pivotal milestone for Kins, highlighting our progress in revolutionizing physical therapy care,” says Dan Smith, CEO of Kins. “We have seen proven success with our care model among patients, providers and health systems. Now, we are excited for this next chapter, collaborating with payers on value-based care delivery.”

Seizing a market opportunity

Kins is tapping into a huge potential market: The 127 million Americans who suffer from pain or injury in their muscles, bones and joints.

Smith and the founding team envisioned an evidence-based approach to physical therapy that would be more effective—and enjoyable—than traditional care delivery models. Using the patient experience as their north star, the team set priorities and created a roadmap that delivered instant results. Today, Kins boasts a net promoter score (NPS) of 92, a remarkable achievement in patient satisfaction.

“We are modernizing patient care by providing a level of convenience and access that traditional clinic settings simply can’t match,” says Dr. Nadine Booysen, Chief Clinical Officer at Kins. “Beyond convenience, we are delivering significantly improved clinical outcomes at lower costs.”

How the Kins model works

Kins delivers longer-lasting outcomes by taking an active approach to healing through movement and exercise. The Kins process begins with a digital assessment that matches patients with a physical therapist who best fits their specific health needs. Patients and their therapists then collaborate to develop a customized care plan, identifying the combination of in-person and virtual sessions that will maximize results.

Kins features a large network of experienced physical therapists, all licensed and vetted upon hiring. During each appointment, therapists work one-on-one with patients for 45 to 55 minutes, three times longer than in traditional clinics. Kins accepts most insurance plans and Medicare, with co-pays as low as $0. No prescription is required. Additionally, through the Kins mobile app, patients can message their therapist between appointments and participate in a personalized at-home exercise plan.

Leading a ‘movement’ to reinvent physical therapy

Physical therapy helps restore people’s confidence and mobility so they can thrive well into the future. In the same spirit, our investors are helping extend Kins’ mission so it can deliver a better physical therapy experience to the millions of Americans who need help to restore their range of motion. We are grateful to Healthworx Ventures and the funding partners who are making this possible, and we’re excited to see what the future holds for Kins.

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