Third Way Health
Third Way Health is a Los Angeles-based, venture-backed healthcare operations partner that delivers AI-enabled managed front-office services — combining its proprietary Ascend platform with bilingual nearshore delivery teams — to U.S. healthcare providers and payers, replacing fragmented call centers and manual workflows.
- Company typePrivate
- Founded2022
- HeadquartersLos Angeles, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Third Way Health does
Third Way Health is a Los Angeles-headquartered, venture-backed healthcare operations partner founded in 2022 that delivers AI-enabled managed services to U.S. healthcare providers and payers. The company combines a proprietary technology platform called Ascend — which integrates the multilingual Dyno AI Voice Assistant (trained on more than 15 million multi-modal patient conversations), an AI Agent Assist co-pilot for live agents, an AI AutoQA module that reviews 100% of calls, a Patient CRM, real-time analytics, and workflow tooling including a scheduling engine, engagement engine, financial clearance engine, and digital front door — with bilingual English/Spanish nearshore delivery teams in Medellín, Colombia and Lima, Peru. The company packages Ascend into two go-to-market solution sets: provider-facing offerings (Patient Access as a Service and Front Office as a Service) and payer-facing offerings (Network Management, Claims Management, Quality Management, and Member and Provider Engagement).
Third Way Health generates revenue primarily through recurring managed-services engagements sold via direct enterprise and mid-market sales motions, with quote-based performance-oriented pricing tied to client outcomes such as cost reduction, visit volume, and satisfaction. Reported client outcomes include 27–50% reductions in front-office administrative costs, 11–15% increases in patient visits, 90% reductions in payer wait times/abandonment rates, and 4.8/5 patient satisfaction. Named enterprise customers include Astrana Health, Graybill Medical Group, Palomar Health, MedPOINT Management, Houston Endocrinology Center, and Valley Oaks Medical Group. The platform is HIPAA- and SOC 2-certified, integrates with provider EHRs, practice management systems, and HEDIS engines, and is positioned against pure AI-only point solutions and low-skill offshore BPO as a hybrid 'Third Way' alternative.
The company has raised $22.5 million in total disclosed funding, including a $15 million oversubscribed Series A led by Health Velocity Capital in February 2026 and strategic investments from Astrana Health and MedPOINT Management in 2025. It employs between 101 and 250 staff across Los Angeles, Boston, Medellín, and Lima, and is led by co-founders Frederik Mueller (CEO, ex-Salesforce), Timm Schneider (COO), and Royce Cheng (Chief Product Officer). The company complements its platform with the 'Healthcare Ops Wave' podcast as a content-led, community-driven GTM channel.
Third Way Health firmographics
Firmographics- Name
- Third Way Health
- Legal name
- Third Way Health, Inc.
- Website
- https://thirdway.health
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Third Way Health is a Los Angeles-based, venture-backed healthcare operations partner that delivers AI-enabled managed front-office services — combining its proprietary Ascend platform with bilingual nearshore delivery teams — to U.S. healthcare providers and payers, replacing fragmented call centers and manual workflows.
- Ownership category
- akta.pro rank
Third Way Health industry classification
Industry- Product category
- Healthcare Operations Services
- NAICS
- Offices of Physicians (6211), Computer Systems Design and Related Services (54151)
- SIC
- Services-Health Services (8000), Services-Computer Programming, Data Processing, Etc. (7370), Services-Help Supply Services (7363)
- akta.pro primary industry
- Care Management & Population Health Program Administration (HLAEALAG)
- akta.pro secondary industries
- Care Management & Coordination Platforms (case/disease management workflows) (HLACAHAD), Care Navigation, Referral & Digital Front Door Platforms (HLALABAH), Employer/Member Engagement Platforms for Provider-Sponsored Plans (HLACAEAM)
Keywords
Where Third Way Health is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Third Way Health business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Managed Services / BPO Engagements with AI Enablement: Recurring managed services engagements where Third Way Health deploys bilingual front-office agents (in nearshore locations in Colombia and Peru) supported by the Ascend AI platform to handle patient access, scheduling, prior authorization, eligibility verification, and other front-office workflows for healthcare providers and payers. The company states the pricing model is 'performance-based' to ensure continuous improvement alignment with client outcomes.
- Performance-Based / Outcome-Aligned Pricing: Provider solutions page notes a 'performance-based pricing model' is offered as part of a tailored solution design, aligning the vendor's compensation with measurable client outcomes (e.g., cost reduction, visit volume, satisfaction).
- Technology Platform (Ascend) Embedded in Engagements: Ascend AI platform is deployed as part of client engagements, consolidating multiple point-solution vendor relationships (per case study, a 30+ provider group reduced front-desk/call center labor spend from over $2.1M and eliminated ~$91K across multiple technology vendors by consolidating with Third Way Health). Revenue is realized as part of the overall managed services engagement rather than as a separate software license.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Outcome Based/ Performance | Multi-year contract | Performance-based, tailored pricing (quote-based) |
Go-to-market motion4 records
Distribution channels2 records
Marketing channels10 records
Third Way Health product offering
Product offeringCore offering
Third Way Health delivers managed healthcare front-office and operations services that combine bilingual nearshore human agents (in Medellin and Lima) with its proprietary Ascend AI platform — including the Dyno AI Voice Assistant, AI Agent Assist, AI AutoQA, and workflow tooling — to handle patient access, scheduling, eligibility verification, prior authorization, and engagement for healthcare providers and payers. Offerings are sold as performance-based, multi-year managed service engagements rather than standalone software licenses, and are tailored per client under a Build the Foundation, Operate-as-a-Service, Optimize and Modernize implementation model.
Product overview
Third Way Health sells a single unified platform called Ascend, on top of which it offers a portfolio of AI and workflow modules — Dyno AI Voice Assistant, AI Agent Assist, AI AutoQA, Patient CRM, Real-Time Analytics, Practice Workflow Tooling (Scheduling engine, Engagement engine, Customer playbooks, Financial Clearance engine), and Digital Front Door — packaged into two go-to-market solution sets: provider-facing offerings (Patient Access as a Service and Front Office as a Service) and payer-facing offerings (Network Management, Claims Management, Quality Management, and Member and Provider Engagement). The company complements this platform-plus-modules architecture with the Healthcare Ops Wave podcast as a thought-leadership channel.
Differentiator
Problem solved
Functional benefit
Brands
- Ascend: Third Way Health's AI-powered technology platform that integrates AI tools for scheduling, billing, prior authorization, real-time analytics, patient CRM, and operational decisions.
- Dyno AI Voice Assistant
- Healthcare Ops Wave
Products and services
- Patient Access as a Service Provider-facing managed service that uses the Ascend platform and bilingual human agents to handle every inbound call, schedule appointments, and manage follow-up communications, ensuring seamless patient interactions for medical groups and practices.
- Front Office as a Service Provider-facing managed service that overlays Third Way Health's AI tooling and nearshore operations team onto a practice's existing front office to streamline workflows from eligibility verification and prior authorizations to no-show follow-ups and care gap closure.
- Digital Front Door Patient-facing solution offering 24/7 online self-scheduling, digital intake forms, appointment reminders, and post-visit satisfaction surveys, integrated with EHRs and powered by the Ascend platform.
- Network Management Payer-facing solution that uses Ascend's analytics and workflow tooling to optimize provider network operations through accurate provider data, credentialing, eligibility, and benefits management.
- Claims Management Payer-facing solution that applies Ascend automation and AI tooling to expedite claims processing, ensuring accuracy and efficiency while minimizing payment errors and optimizing reimbursement cycles.
- Quality Management Payer-facing solution focused on enhancing care quality through streamlined utilization management, grievances and appeals management, and proactive care gap closure, leveraging HEDIS engine integrations.
- Member and Provider Engagement Payer-facing solution that uses the Ascend engagement engine and Dyno AI Voice to improve stakeholder satisfaction with dedicated call centers for both members and providers.
Quantifiable outcome
- Up to 40% reduction in front-office administrative costs
- +15 more outcomes
Companies that use Third Way Health
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Third Way Health technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability12 records
Feature13 records
Third Way Health partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered background reference only (ceo prior experience, not an active commercial relationship), core platform integration — required for client deployment and marketing distribution channels.
- Salesforcebackground reference only (ceo prior experience, not an active commercial relationship)Salesforce is referenced as part of CEO Frederik Mueller's prior experience building engagement platforms, not as a current commercial or technology partner relationship.
- Provider EHRs, Practice Management Systems, and HEDIS Enginescore platform integration — required for client deploymentAscend offers API-driven integration with any provider EHR and a wide range of practice management systems, HEDIS engines, and other third-party tools to deliver 360-degree patient views. The 'Integration Stabilizer' team builds and maintains these deep integrations as a core capability.
- Apple Podcasts, Spotify, YouTubemarketing distribution channelsDistribution platforms for the 'Healthcare Ops Wave' podcast where CEO Frederik Mueller interviews healthcare operators (Graybill, Tribeca Pediatrics, Schweiger Dermatology, Astrana, Decent, Greenbrook Medical, Auxira Health, Altura Centers for Health).
Scale indicators19 records
Recent moves7 records
Expansion highlights6 records
Third Way Health competitors and assessment
Company assessmentDirect peers
- Suki: AI voice assistant and ambient documentation for clinicians, with provider-side workflow automation. Competes with TWH on AI-driven front-office and documentation workflows inside medical groups.
- Notable: AI platform automating patient intake, scheduling, authorization, and outreach for healthcare providers. Directly overlaps with TWH's Front Office as a Service, Digital Front Door, and Financial Clearance engine.
- Abridge: AI for patient-provider conversations and ambient clinical documentation. Adjacent to TWH's AI AutoQA and Patient CRM, expanding into the same conversational AI layer for provider organizations.
- Innovaccer: Healthcare data activation and AI platform serving both providers and payers, with strong care management and population health capabilities. Comparable to TWH's Ascend platform across both GTM motions.
- Commure: Healthcare AI platform bundling ambient AI, revenue cycle, and front-office automation for providers and health systems. Well-funded competitor overlapping TWH's provider-facing workflow and AI modules.
- Hyro AI: AI-powered call center automation specifically for healthcare (scheduling, routing, FAQs). Most direct competitor to Dyno AI Voice Assistant and TWH's Patient Access as a Service offering, targeting the same provider front-office workflows.
Broad incumbents
- Optum (UnitedHealth Group): Largest healthcare services franchise, offering call center operations, care management, and analytics for payers and providers. Represents the scaled incumbent TWH positions 'Third Way' against.
- Athenahealth: Major ambulatory EHR with patient engagement, scheduling, and population health tools embedded in the platform. A broad incumbent whose embedded patient portal and engagement features overlap with TWH's Digital Front Door.
- Concentrix: Large global BPO with dedicated healthcare vertical offering member engagement, provider services, and care management. Direct competitor to TWH's payer-facing Member & Provider Engagement offering.
Emerging players
- Cedar: Patient financial experience platform for providers and payers covering billing, payments, and engagement. Adjacent competitor in the patient financial and engagement layer that TWH's Financial Clearance engine and Engagement module target.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Third Way Health social profiles
Digital presenceThird Way Health compliance and trust
Trust signalCompliance2 records
Third Way Health financial estimates
Financial estimateRevenue estimate
Valuation estimate
Third Way Health leadership team
Management profileNumber of profiles
Profiles4 records
Third Way Health funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Third Way Health M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Third Way Health
What does Third Way Health do?
Third Way Health delivers managed healthcare front-office and operations services that combine bilingual nearshore human agents (in Medellin and Lima) with its proprietary Ascend AI platform — including the Dyno AI Voice Assistant, AI Agent Assist, AI AutoQA, and workflow tooling — to handle patient access, scheduling, eligibility verification, prior authorization, and engagement for healthcare providers and payers. Offerings are sold as performance-based, multi-year managed service engagements rather than standalone software licenses, and are tailored per client under a Build the Foundation, Operate-as-a-Service, Optimize and Modernize implementation model.
Is Third Way Health a public or private company?
Third Way Health is a private company. It is classified as venture growth investor backed and is currently operating.
When was Third Way Health founded?
Third Way Health was founded in 2022. It employs 101 to 250 people.
Where is Third Way Health based?
Third Way Health is headquartered in Los Angeles, United States, in the North America region.
How does Third Way Health make money?
Three revenue lines are on record. Managed Services / BPO Engagements with AI Enablement is the primary driver. The others are performance-Based / Outcome-Aligned Pricing and technology Platform (Ascend) Embedded in Engagements.
Who are Third Way Health's main competitors?
Direct peers on record are Suki, Notable, Abridge, Innovaccer, Commure and Hyro AI. Broad incumbents are Optum (UnitedHealth Group), Athenahealth and Concentrix. Cedar is listed as an emerging player.
Does Third Way Health have an API?
No public API is recorded for Third Way Health.
What industry is Third Way Health in?
Third Way Health's product category is Healthcare Operations Services. Its primary akta.pro industry code is HLAEALAG, Care Management & Population Health Program Administration, with a secondary code of HLACAHAD, Care Management & Coordination Platforms (case/disease management workflows). Its NAICS code is 6211 and its SIC code is 8000.