Healthcare, with its staggering $4 trillion value, stands at a crossroads. Unsustainable cost trends, access barriers, and complex processes have created a fertile ground for change and new business models. Innovators have stepped in, and in 2019, Fierce Healthcare launched the Fierce 15 recognition. This inaugural class included well-known names like Cityblock Health, just two years old at the time, Cricket Health in tech-enabled kidney care, and Civica Rx formed by hospitals fed up with drug shortages.

March 2020: A Turning Point

Everything changed in March 2020. Young companies took the lead in navigating the COVID-19 pandemic landscape. From virtual care to data science and new home health delivery methods, digital health funding reached a fever pitch in 2020 and 2021. The investment during the pandemic spurred growth.After the pandemic, the market became tough as interest and funding in health tech waned. However, innovative companies, from startups to those run by healthcare veterans, continued to thrive. Despite market headwinds, the long-term prospects for healthcare and health tech companies remain strong. According to Rock Health, the digital health sector is returning to "normal, sustainable venture patterns." In the first six months of 2024, startups pulled in $5.7 billion, with artificial intelligence startups driving the energy.

Opening Nominations for the Fierce 15

Today, we are opening nominations for our annual Fierce 15 honorees. 2025 will mark the seventh year of highlighting private healthcare companies that aim to change the industry. The Fierce 15 celebrates the spirit of being "fierce," championing innovation and creativity even in the face of intense competition. It represents various corners of the industry, from health tech and AI-enabled software to health payers and primary care.We want to showcase the newest ideas that can have a major positive impact on business. Take a look at some of our previous honorees. Abridge, a 2024 winner, is one of the most talked-about and rapidly growing AI-powered healthcare startups. It builds generative AI for medical documentation and is reportedly raising $250 million at a valuation of $2.5 billion. Thyme Care, another 2024 winner in value-based cancer care navigation, pocketed $95 million in fresh funding this year.Women's health companies on the Fierce 15 lists continue to thrive. Maven Clinic, a 2019 honoree, became the first female-focused health startup to surpass a $1 billion valuation and now serves more than 15 million lives globally. Pomelo Care, a value-based virtual provider of maternity care, raised $46 million this year and acquired the Doula Network to expand its services.The editors at Fierce Healthcare have a proven track record of identifying the "fiercest" companies. Do you think your company has what it takes to make our 2025 list? Submit your nomination below by 11:59 p.m. on Friday, Jan. 17. Note: These awards are for companies operating in the healthcare space. We have separate Fierce 15 awards for therapeutics-focused biotechnology companies and medtech companies or devices.Any questions? Contact Executive Editor Heather Landi at [email protected].