When he realized that paying the cash price for an MRI rather than the insurance company’s negotiated rate would save him nearly $1,000, Patrick Quigley WG03 knew he had an idea that could transform the health-insurance industry.

He co-founded Sidecar Health in 2018 around a “cash price” model that enables members to enroll any time, see any doctor, pay lower prices to their health-care providers, and view what providers have charged other members for services. This transparency lets members comparison-shop for health care as they would for any other product or service.

Currently available in 16 states, the company recently raised $125 million in its Series C round of funding to reach a valuation of $1 billion and expand its mission to make health care more accessible, affordable, and transparent for all Americans.

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