Homeward secures $50 million in Sequence B funding and broadcasts Precedence Well being partnership

Homeward, a healthcare supply firm centered on rural healthcare, has introduced a $50 million Sequence B funding spherical co-led by ARCH Enterprise Companions and Human Capital. 

The corporate additionally introduced its first value-based care partnership with Precedence Well being to ship care to Medicare Benefit members in rural Michigan. Homeward stated it will use the brand new funds to speed up enlargement into new markets by value-based contracts with well being plans.

The funding spherical additionally contains participation from Normal Catalyst, which led Homeward’s Sequence A funding, and Lee Shapiro and Glen Tullman, cofounders of 7wireVentures, an early stage healthcare enterprise fund.

Homeward can even put money into scaling its on-the-ground and digital multidisciplinary care groups, together with specialty care, because it expands into extra states within the coming months.

WHY THIS MATTERS

Homeward addresses a necessity in rural America, in response to CEO Dr. Jennifer Schneider. 

“Even if almost one in 5 Individuals dwell in rural communities, our present healthcare system is ill-equipped to help these people with constant entry to high-quality care,” Schneider stated by assertion. “Our goal market is tightly distributed amongst a small handful of well being plans. In truth, roughly 90% of Medicare-eligible beneficiaries who dwell in rural markets are coated by seven payers. This funding permits us to achieve rural populations even sooner in partnership with well being plans and native physicians.”

THE LARGER TREND

Homeward is an in-network supplier that deploys an built-in care mannequin together with cellular, community-based care and know-how. Homeward suppliers see members in cellular clinics all through the group, nearly, and in members’ properties. These groups conduct bodily exams, carry out diagnostic exams, and combine with regional well being methods, native physicians, and specialists to offer care coordination, referring members to native in-person companies as wanted. 

The corporate helps Medicare-eligible beneficiaries, together with by partnering with Medicare Benefit plans, and takes full danger for the price of care of its members.

Schneider and different veterans from power care administration firm Livongo launched Homeward in March with a $20 million funding from Normal Catalyst.

It quickly partnered with Ceremony Help to permit pharmacists to attach their Medicare-eligible clients with Homeward for care.

Individuals dwelling in rural communities are experiencing rising well being disparities resulting from accelerated rural hospital closures and doctor shortages. In truth, Individuals dwelling in rural communities undergo a mortality charge 23% larger than these in city communities as a result of lack of entry to care, in response to Homeward.

Twitter: @SusanJMorse
E mail the author: SMorse@himss.org

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