Wayspring

What Wayspring does

Wayspring is a Nashville-based, value-based healthcare company that partners with Medicaid Managed Care Organizations (MCOs) to deliver whole-person care for members with substance use disorder (SUD) and serious mental illness (SMI). The company operates exclusively in B2B mode, embedding its SUD Home program as a covered benefit within health plan networks across 8 U.S. states (Tennessee, Kentucky, Iowa, Illinois, Delaware, and others), serving more than 35,000 new covered SUD lives added in the past year alone. Founded in 2020 and rebranded from axialHealthcare to Wayspring in 2021, the company is led by founder-CEO Carter Paine with an executive team that includes COO Frazer Buntin (formerly President of Value-Based Services at Evolent Health) and CMO Dr. Michael Frost, a Distinguished Fellow of the American Society of Addiction Medicine.

The core product is the SUD Home program, a value-based care model that integrates clinical treatment (physical, behavioral, and substance use) with social determinants of health support including housing, food, transportation, and employment. Care is delivered through interdisciplinary teams of physicians, advanced practice nurses, licensed counselors, and engagement specialists — many of whom have lived recovery experience — providing both virtual and in-person support. The supporting technology stack includes the MyWayspring member portal, the Network Solutions platform for behavioral health network performance monitoring and payment integrity (launched April 2025), and data analytics for high-risk member identification and outcomes tracking. Clinical guidance is provided by a Clinical Advisory Board of nationally recognized leaders in addiction medicine and managed care.

Wayspring generates revenue through full-risk or partial-risk capitated contracts and shared-savings arrangements with health plans, in which the company is accountable for the total cost of care for SUD and SMI populations and is incentivized to invest in preventive and social support services that reduce expensive inpatient and emergency utilization. The company's customer base consists of major Medicaid managed care payers including Centene (WellCare of Kentucky, Delaware First Health), CVS Health (Aetna Better Health of Kentucky and Illinois), Elevance Health (Wellpoint Tennessee and Iowa), Highmark Health Options, and CareSource. Since 2021, Wayspring has raised approximately $161 million across multiple rounds, including a $75 million round led by Valtruis and Centene Corporation and a $45 million minority growth round led by CVS Health Ventures in May 2024.

Name

Wayspring

Legal name

Axial Healthcare, Inc.

Website

https://wayspring.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

Wayspring is a value-based healthcare company partnering with Medicaid managed care plans to deliver integrated whole-person care for substance use disorder and serious mental illness populations across 8 U.S. states.

Ownership category

akta.pro rank

Product category

Behavioral Health Services

NAICS

Outpatient Mental Health and Substance Abuse Centers (621420), Home Health Care Services (621610), Social Assistance (624), Health and Welfare Funds (525120)

SIC

Services-Health Services (8000), Hospital & Medical Service Plans (6324), Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Social Services (8300)

akta.pro primary industry

Substance Use Disorder (SUD) Benefit Management (HLAEAHAF)

akta.pro secondary industries

Behavioral Health Managed Care (Medicaid) / BH Carve-In-Carve-Out Plans (HLAEAEAE), Integrated Physical-Behavioral-Social Care (Whole-Person) Medicaid Plans (HLAEAEAI), Outpatient Substance Use Disorder (SUD) Treatment Programs (HLAFABAD), Behavioral Health Population Health, Quality & Outcomes Measurement (HLAEAHAI)

Keywords

• Substance use disorder care
• Behavioral health services
• Value-based healthcare
• Medicaid managed care
• Social determinants health

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Value-Based Care Contracts with Health Plans: Wayspring takes full-risk (or partial-risk) contracts with health plans (primarily Medicaid MCOs) to manage SUD and SMI populations. Revenue is generated through capitated payments or shared savings arrangements where Wayspring is accountable for the total cost of care. The model incentivizes Wayspring to invest in preventive and social support services (e.g., water filters, housing assistance) that reduce expensive inpatient and emergency care utilization.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Wayspring delivers a value-based SUD Home care model that provides whole-person, longitudinal care for Medicaid members with substance use disorder (SUD) and serious mental illness (SMI). The model integrates clinical treatment (physical, behavioral, substance use) with social determinants of health support (housing, food, transportation, employment) through interdisciplinary care teams that deliver services virtually and in-person. The company contracts with Medicaid Managed Care Organizations under full or partial risk arrangements, embedding its care model as a covered benefit within health plan networks.

Product overview

Wayspring is a value-based healthcare organization offering a unified whole-person care model focused on substance use disorder (SUD) and serious mental illness (SMI). The core offering is the SUD Home program, which integrates clinical treatment with social determinants of health support. The company operates through partnerships with health plans (Medicaid MCOs) and providers, delivering services via an interdisciplinary care team model. Supporting offerings include Network Solutions (performance monitoring tools for behavioral health networks) and the MyWayspring member portal for member access to resources and care coordination.

Differentiator

Problem solved

Functional benefit

Products and services

• SUD Home A value-based, whole-person care model integrating clinical care with social determinants of health for individuals with substance use disorder. Features personalized outreach, interdisciplinary care teams, and support for housing, food, and other social needs alongside physical, behavioral, and substance use care. Delivered to Medicaid health plan members under full or partial risk contracts with MCOs.
• SMI Support Services supporting individuals with serious mental illness, addressing complex behavioral health needs alongside substance use disorder treatment within Wayspring's whole-person care model.
• Network Solutions Consultation and performance monitoring tools that strengthen behavioral health network performance by improving visibility into utilization and payment integrity across levels of care, supporting shared understanding between health plans and providers.
• MyWayspring Member Portal Member-facing portal providing access to community resources, care team contacts, locations, educational content, and support services for Wayspring members.

Quantifiable outcome

• Since launch in 2020, Wayspring has achieved significant savings by reducing inpatient and hospital treatments
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Aetna Better Health of Illinois (CVS Health)coreStrategic or Co-development Partner · 6 January 2026Aetna Better Health of Illinois, a CVS Health company, partnered with Wayspring to launch a whole-person care model for Medicaid members living with SUD, starting January 2026. The program serves 9,000 Aetna Better Health of Illinois members statewide, integrating physical health, behavioral health, social support, and SUD treatment with a new Chicago-based clinic.
• Delaware First Health (Centene)coreStrategic or Co-development Partner · 30 July 2025Delaware First Health, a Medicaid Managed Care Organization and Centene company, partnered with Wayspring in July 2025 to expand whole-person care throughout Delaware. The partnership gives Delaware First Health members access to Wayspring's SUD Home program integrating substance use treatment, physical/behavioral healthcare, and social support services.
• Wellpoint Tennessee (Elevance Health)coreStrategic or Co-development Partner · 8 August 2024Wellpoint Tennessee expanded its 7-year partnership with Wayspring in August 2024, introducing the SUD Home model to Wellpoint members in Tennessee. The partnership integrates medical treatment, behavioral health care, and social support services, building on a successful multi-year relationship.
• Wellpoint IowacoreStrategic or Co-development Partner · 23 July 2024Wellpoint Iowa partnered with Wayspring in July 2024 for the groundbreaking launch of the SUD Home program in Iowa. This marked Wayspring's entry into Iowa, introducing its value-based SUD care model to a new state market.
• Aetna Better Health of Kentucky (CVS Health)coreStrategic or Co-development Partner · 5 March 2024Aetna Better Health of Kentucky partnered with Wayspring in March 2024 to expand the SUD Home program across Kentucky. The collaboration broadens access to treatment and social support resources for Kentuckians with substance use issues, integrating clinical care with social determinants of health.
• WellCare of Kentucky (Centene)coreStrategic or Co-development Partner · 5 September 2023WellCare of Kentucky partnered with Wayspring in September 2023 to launch the SUD Home program in Louisville, Lexington, and Eastern Kentucky. The program serves WellCare's TANF and Medicaid Expansion populations with SUD, offering a dedicated care team including Kentucky-based medical providers, community health workers, and engagement specialists.
• CareSourcecoreStrategic or Co-development Partner · 23 February 2022CareSource, a nationally recognized nonprofit health plan, partnered with Wayspring in February 2022 to launch a first-of-its-kind SUD Home program. CareSource was also an investor in Wayspring's $75M round. The partnership aims to better support individuals with SUD throughout the full treatment and recovery process.
• Highmark Health OptionscoreStrategic or Co-development PartnerHighmark Health Options partnered with Wayspring on a collaborative model for SUD care. Behavioral Health Business covered how Wayspring and Highmark Health are changing the SUD care playbook. The model is built on showing up, earning trust, and helping those with the steepest barriers to care.
• UofL Health – Peace HospitalminorStrategic or Co-development PartnerUofL Health – Peace Hospital in Louisville, Kentucky partners with Wayspring to identify members who may benefit from continued support post-discharge. Wayspring provides transitional support for patients leaving the facility, helping ease the demands of the hospital's caseload and ensuring patients have plans for long-term recovery.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Boulder Care: Boulder Care is a value-based telehealth provider for substance use disorder, primarily serving Medicaid and commercial populations. It is the closest direct competitor to Wayspring's SUD Home model, with similar focus on opioid and alcohol use disorders and multi-state expansion.
• Eleanor Health: Eleanor Health operates value-based, whole-person care clinics and virtual programs for SUD and mental health, often under risk-bearing contracts with Medicaid health plans. Its clinical + SDoH integration model directly parallels Wayspring's SUD Home offering.
• Ophelia: Ophelia provides virtual medication-assisted treatment for opioid use disorder, partnering with health plans and employer programs and increasingly serving Medicaid populations. Comparable to Wayspring in target population and payer go-to-market, though delivery is telehealth-first.
• Workit Health: Workit Health offers virtual SUD care (including MAT) to Medicaid and commercial members through value-based contracts with health plans. Overlaps with Wayspring on payer partnerships, SUD focus, and tech-enabled care delivery.
• PursueCare: PursueCare delivers telehealth SUD treatment, including medication-assisted treatment, with Medicaid and commercial payer contracts. Shares Wayspring's focus on bringing SUD care into health plan networks and serving underserved populations.
• Lionrock Recovery: Lionrock Recovery provides online substance use disorder treatment and IOP programs through telehealth, serving employer and payer-sponsored populations. It overlaps with Wayspring in SUD treatment delivery and payer channel, though with less emphasis on Medicaid value-based full risk.

Emerging players

• Ria Health: Ria Health delivers telehealth care for alcohol use disorder using medication and coaching, including via health plan contracts. Adjacent to Wayspring's SUD focus with overlapping AUD prevalence in Medicaid populations.

Broad incumbents

• Spring Health: Spring Health is a large mental health benefits platform serving employers and health plans with broad behavioral health coverage. It overlaps with Wayspring's SMI population focus and payer go-to-market, but addresses a wider condition set beyond SUD.
• Lyra Health: Lyra Health is a mental health benefits provider that partners with employers and health plans to deliver therapy, coaching, and medication services. Comparable to Wayspring at the behavioral health benefits layer with payer contracts, though primarily employer-sponsored rather than Medicaid.
• Optum Behavioral Health: Optum (UnitedHealth Group) is the largest US behavioral health services and managed care platform, serving Medicaid and commercial populations with broad SUD and MH offerings. It's the dominant incumbent in the same space Wayspring competes in via VBC contracts with health plans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@WayspringHealth
• Facebookfacebook.com/wayspringhealth
• LinkedInlinkedin.com/company/wayspring
• Instagraminstagram.com/mywayspring
• Xx.com/WayspringHealth

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wayspring