Lantern
Lantern is a U.S. specialty care platform that connects 12 million covered lives from self-insured employers, public-sector plans, labor unions, and health plans with a vetted Network of Excellence for surgery, cancer, and infusion care via bundled, transparent, performance-based pricing.
- Company typePrivate
- Founded2011
- HeadquartersDallas, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Lantern does
Lantern, legally Employer Direct Healthcare, LLC dba Lantern Specialty Care (and in Michigan operating as Lantern Specialty Solutions), is a U.S. specialty care platform founded in 2011 and headquartered in Dallas, TX. The company connects members of self-insured employers, public-sector plans, labor unions and trusts, and health plans with a Network of Excellence of individually vetted surgeons, oncologists, and ambulatory infusion centers for surgery, cancer care, and infusion therapy. Lantern's offering is organized as a unified Specialty Care Platform with three member-facing modules — Surgery Journeys (formerly SurgeryPlus), Cancer Journeys (formerly Cancer Care Direct), and Infusion Journeys — supported by a Dedicated Care Team of in-house Care Advocates and Oncology Nurse Navigators, a licensed Third-Party Administrator (TPA) capability, and the proprietary TrueRate™ savings methodology. As of early 2026 the platform covers more than 12 million lives across 1,000+ clients, 30+ health plan partners, and 50+ public-sector organizations, and the company reports more than $1 billion in cumulative employer savings, a less than 1% surgical complication rate, and an 85 NPS.
The platform's underlying economics rest on direct contracting with top providers to produce bundled, transparent, performance-based pricing that is 55%+ lower than average carrier rates, with no upfront cost to the plan sponsor and per-member-per-month savings averaging $20+. Lantern sells primarily through a direct enterprise field-sales motion to employers, public-sector entities, labor unions/trusts, and health plans, supplemented by a benefits-consultant channel and an ecosystem of integrated point-solution partners (Hinge Health, Sword Health, Accolade, Pelago, Quantum Health, Marathon Health, HealthJoy, Apree) that drive closed-loop referrals through data integrations. Pricing is multi-year, quote-based, and outcome-aligned, with hard-dollar savings commitments and tailored plan designs. In April 2026 Lantern established the first AHRQ-listed Patient Safety Organization operated by an independent center of excellence, and the company raised a $30 million strategic growth investment from Morgan Health and Echo Health Ventures in March 2026 to expand technology, go-to-market, and partnerships, while already operating profitably on a 501-1,000 employee base.
Lantern firmographics
Firmographics- Name
- Lantern
- Legal name
- Employer Direct Healthcare, LLC dba Lantern Specialty Care
- Website
- https://lanterncare.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Lantern is a U.S. specialty care platform that connects 12 million covered lives from self-insured employers, public-sector plans, labor unions, and health plans with a vetted Network of Excellence for surgery, cancer, and infusion care via bundled, transparent, performance-based pricing.
- Ownership category
- akta.pro rank
Lantern industry classification
Industry- Product category
- Specialty Care Services
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Services-Health Services (8000)
- akta.pro primary industry
- Patient Self-Service Portal for Scheduling & Management (HLACADAK)
Keywords
Where Lantern is headquartered
LocationHeadquarters
- HQ city
- Dallas
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Lantern business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain, Others
Revenue model
- Performance-Based Bundled Pricing to Employers/Health Plans: Lantern contracts with self-insured employers, public sector plans, labor unions, and health plans on a bundled, transparent, performance-based pricing model with no upfront costs. Pricing is per procedure or per-member-per-month (PEPM), with hard-dollar savings guaranteed and aligned incentives. The company also operates as a licensed Third-Party Administrator (TPA).
- Hard-Dollar Procedure Savings with Network of Excellence: Lantern generates revenue by directly contracting with top surgeons, oncologists, and ambulatory infusion centers and re-pricing high-cost episodes of care at rates 55%+ lower than carriers, capturing the spread and providing hard-dollar savings to plan sponsors.
- Ecosystem Partner Co-Selling and Integration Services: Streamlined contracting with ecosystem partners (Hinge Health, Sword, Pelago, Accolade, HealthJoy, Apree, Quantum Health, Marathon Health) and value-based care integrations; co-selling and shared-channel partnerships drive additional revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Outcome Based/ Performance | Multi-year contract | Performance-based bundled pricing with no upfront costs to employer, health plan, public sector, and labor union clients. |
| Per seat | Monthly | Per Member Per Month (PEPM) savings averaging $20 with 4% lower total medical spend for employer clients. |
| Subscription | Multi-year contract | Multi-year enterprise contracts with employers and health plans, including 30+ health plan relationships. |
Go-to-market motion4 records
Distribution channels7 records
Marketing channels10 records
Lantern product offering
Product offeringCore offering
Lantern operates a Specialty Care Platform that connects health plan members with individually vetted providers across a Network of Excellence for surgeries, cancer treatment, and infusion therapy. The platform pairs dedicated Care Advocates and Oncology Nurse Navigators with bundled, transparent, performance-based pricing to deliver specialty care benefits to self-insured employers, public sector plans, labor unions, and health plans. Lantern also operates as a licensed Third-Party Administrator (TPA) and runs an AHRQ-listed Patient Safety Organization.
Product overview
Lantern's offering is a single unified Specialty Care Platform with a platform-plus-modules architecture. The Lantern Specialty Care Platform ties together three core member-facing care solutions — Surgery Journeys (formerly SurgeryPlus), Cancer Journeys (formerly Cancer Care Direct), and Infusion Journeys — which all draw on a shared Network of Excellence, a Dedicated Care Team of Care Advocates and Oncology Nurse Navigators, and Lantern's Better Economic Model and TrueRate™ Savings Methodology. The platform was further extended in 2026 through the establishment of Lantern's AHRQ-listed Patient Safety Organization, the expansion of Cancer Journeys with AccessHope's NCI cancer center experts, the addition of Infusion Journeys via the Infusion for Health partnership, and the acquisition of Specialist Management Solutions. Strategic integrations with ecosystem partners (Apree, HealthJoy, Hinge Health, Pelago, Sword Health, Accolade) and care partners such as Marathon Health and Quantum Health provide closed-loop referrals and data-driven outreach that feed members into the platform.
Differentiator
Problem solved
Functional benefit
Products and services
- Lantern Specialty Care Platform Unifying specialty care platform connecting members, employers, health plans, and providers across Lantern's Surgery Journeys, Cancer Journeys, and Infusion Journeys solutions; powers the Network of Excellence, Dedicated Care Team, and TrueRate savings methodology.
- Surgery Journeys Member-facing surgery benefit that guides members to top-performing Network of Excellence surgeons for planned procedures, with Care Advocates managing logistics and bundled, transparent pricing under the Lantern economic model.
- Cancer Journeys Member-facing cancer care navigation solution that pairs members with Oncology Nurse Navigators and, through the AccessHope partnership, expert reviews from NCI-designated cancer centers across the treatment journey.
- Infusion Journeys Outpatient infusion therapy benefit directing members to high-quality, cost-transparent infusion sites within the Network of Excellence, including through the Infusion for Health partnership.
Quantifiable outcome
- $1 billion in cumulative savings for employers
- +11 more outcomes
Companies that use Lantern
Customer profileNamed customers23 records
Segments7 records
Ideal customer profiles4 records
Lantern technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature6 records
Lantern partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered flagship commercial partner, preferred provider partner, flagship public-sector client, major commercial partner, major specialty partner, infusion site-of-care partner, specialty service partner, data analytics partner, major ecosystem partner, ecosystem partner and quality partner.
- Marathon Healthflagship commercial partnerStrategic commercial partnership integrating value-based primary care with Lantern's specialty care platform. Marathon primary care providers refer patients to Lantern's network for surgery, cancer, and other specialty needs, with Lantern Care Advocates guiding members through clinician selection, care coordination, and recovery support. Pilot program showed a 47% increase in completed or avoided surgeries and 53% average savings versus PPO network rates. The integrated offering rolled out in 2026 for shared customers.
- OrthoCarolinapreferred provider partnerPreferred provider partnership in the North Carolina State Health Plan's Lantern specialty care platform, expanding no-cost surgical care for eligible members statewide. OrthoCarolina is expanding surgical capacity with new ambulatory surgery centers in Steele Creek and Matthews.
- North Carolina State Health Planflagship public-sector clientExpanded no-cost surgical program with OrthoCarolina as a preferred partner through Lantern's specialty care platform. The program covers 750,000+ teachers, state employees, retirees, and dependents while helping control rising healthcare expenses through value-based care models.
- Quantum Healthmajor commercial partnerPartnership to expand access to value-based specialty care for self-insured employers. Quantum Health clients can incorporate Lantern's specialty surgical and cancer solutions, with Lantern negotiating lower costs and ensuring high-quality care. Emphasizes early engagement, provider performance evaluation, and broad national access to specialized services.
- AccessHopemajor specialty partnerPartnership to expand Lantern's cancer care navigation platform with expert reviews from NCI-designated cancer centers for adult and pediatric cancers, solid tumors, and blood-based diseases. Platform provides clinical trial matching and connections to local infusion centers, improving treatment outcomes and reducing costs for employers.
- Infusion for Healthinfusion site-of-care partnerPartnership to expand patient access to infusion therapy in cost-effective, non-hospital settings. Enables patients to receive infusion therapy through Lantern's network while reducing employer costs and supporting Lantern's infusion solution.
- Pelagospecialty service partnerExclusive partnership enabling Lantern's employer and health plan clients to access Pelago's digital substance use disorder treatment services. Pelago provides care teams, medication-assisted treatment, and vetted inpatient facilities, addressing a need among 49 million U.S. adult workers with substance use disorders.
- Truven Health Analyticsdata analytics partnerData analytics partnership using Truven's MarketScan and Health Insights to identify regional price variations across ten major U.S. metropolitan areas, enabling more informed decisions on contracting, resource allocation, and pricing transparency for Lantern's Network of Excellence.
- Hinge Healthmajor ecosystem partnerEcosystem partnership integrating Hinge Health's MSK digital care with Lantern's surgery Network of Excellence for member continuity (e.g., pre/post-surgery physical therapy). Featured in joint case studies and case examples (Sandra P., ArcBest).
- Sword Healthmajor ecosystem partnerEcosystem partnership for digital MSK care combined with Lantern surgery services. ArcBest case study reports $850K+ savings by combining Lantern and Sword Health.
- Accolademajor ecosystem partnerEcosystem partner for integrated navigation and advocacy services, supporting closed-loop referrals and data-driven outreach across the member journey.
- HealthJoyecosystem partnerEcosystem partner for benefits navigation and integrated member experience.
- Apree Healthecosystem partnerEcosystem partner for navigation and integrated point solutions.
- Global Appropriateness Measures (GAM) Consortiumquality partnerExclusive partnership enhancing Lantern's surgeon vetting with data-driven insights to ensure evidence-based care. GAM evaluates both surgical execution and pre-surgical decisions to improve patient outcomes, differentiating Lantern from standard rating/review-based networks.
Scale indicators21 records
Recent moves6 records
Expansion highlights8 records
Lantern competitors and assessment
Company assessmentDirect peers
- Transcarent: Transcarent offers a self-insured employer healthcare experience platform that bundles virtual care, in-person care, surgery, cancer, and pharmacy benefits with transparent pricing — the closest functional analog to Lantern's specialty care platform.
- Carrum Health: Carrum Health operates a surgery and cancer Center of Excellence platform with bundled pricing for self-insured employers and health plans, directly overlapping Lantern's Surgery Journeys and Cancer Journeys offerings.
- Accolade: Accolade provides personalized healthcare navigation, advocacy, and virtual care for employer and health plan customers — a Lantern ecosystem partner and direct competitor in the employer benefits navigation layer.
- Included Health: Included Health combines virtual primary care, behavioral health, and specialty care navigation for employers and health plans, with a member experience focus that overlaps Lantern's care advocate model.
- Quantum Health: Quantum Health is a healthcare navigation and care coordination company for self-insured employers and is a Lantern ecosystem partner; the platforms compete in the same employer specialty care RFPs.
Emerging players
- HealthJoy: HealthJoy is a benefits navigation platform with virtual care and point-solution integrations for employers; it overlaps with Lantern's member experience layer and is a Lantern ecosystem partner.
Broad incumbents
- Surgery Partners: Surgery Partners is a publicly traded operator of ambulatory surgical facilities and is a potential network partner or competitor to Lantern's Network of Excellence strategy.
- Premise Health: Premise Health operates employer-sponsored near-site and on-site health centers with primary care, pharmacy, and specialty care coordination — adjacent to Lantern's specialty care platform for self-insured employers.
Others
- Hinge Health: Hinge Health is a digital musculoskeletal care platform and a Lantern ecosystem partner, providing pre/post-surgical MSK care that complements Lantern's surgery offering.
- Sword Health: Sword Health is a digital MSK and pelvic health platform and a Lantern ecosystem partner, with joint case studies (e.g., ArcBest $850K+ savings) demonstrating integrated MSK plus surgery economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Lantern social profiles
Digital presenceLantern compliance and trust
Trust signalCompliance1 record
Lantern financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lantern leadership team
Management profileNumber of profiles
Profiles22 records
Lantern subsidiaries and ownership
Company hierarchySubsidiaries1 record
Lantern funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lantern 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 Lantern
What does Lantern do?
Lantern operates a Specialty Care Platform that connects health plan members with individually vetted providers across a Network of Excellence for surgeries, cancer treatment, and infusion therapy. The platform pairs dedicated Care Advocates and Oncology Nurse Navigators with bundled, transparent, performance-based pricing to deliver specialty care benefits to self-insured employers, public sector plans, labor unions, and health plans. Lantern also operates as a licensed Third-Party Administrator (TPA) and runs an AHRQ-listed Patient Safety Organization.
Is Lantern a public or private company?
Lantern is a private company. It is classified as venture growth investor backed and is currently operating.
When was Lantern founded?
Lantern was founded in 2011. It employs 501 to 1,000 people.
Where is Lantern based?
Lantern is headquartered in Dallas, United States, in the North America region.
How does Lantern make money?
Three revenue lines are on record. Performance-Based Bundled Pricing to Employers/Health Plans are the primary driver. The others are hard-Dollar Procedure Savings with Network of Excellence and ecosystem Partner Co-Selling and Integration Services.
Who are Lantern's main competitors?
Direct peers on record are Transcarent, Carrum Health, Accolade, Included Health and Quantum Health. HealthJoy is listed as an emerging player. Broad incumbents are Surgery Partners and Premise Health. Others are Hinge Health and Sword Health.
Does Lantern have an API?
No public API is recorded for Lantern.
What industry is Lantern in?
Lantern's product category is Specialty Care Services. Its primary akta.pro industry code is HLACADAK, Patient Self-Service Portal for Scheduling & Management. Its NAICS code is 524292 and its SIC code is 8000.