Advertisement Banner
  • Home
  • News
  • Medicine
  • Health Tech
  • Health Living
  • Contact
  • Privacy Policy
No Result
View All Result
  • Home
  • News
  • Medicine
  • Health Tech
  • Health Living
  • Contact
  • Privacy Policy
No Result
View All Result
HealthNews
No Result
View All Result
Home Medicine

Homeward secures $50 million in Series B funding and announces Priority Health partnership

admin by admin
August 5, 2022
in Medicine



Homeward, a healthcare delivery company focused on rural healthcare, has announced a $50 million Series B funding round co-led by ARCH Venture Partners and Human Capital. 

The company also announced its first value-based care partnership with Priority Health to deliver care to Medicare Advantage members in rural Michigan. Homeward said it would use the new funds to accelerate expansion into new markets through value-based contracts with health plans.

The funding round also includes participation from General Catalyst, which led Homeward’s Series A funding, and Lee Shapiro and Glen Tullman, cofounders of 7wireVentures, an early stage healthcare venture fund.

Homeward will also invest in scaling its on-the-ground and virtual multidisciplinary care teams, including specialty care, as it expands into additional states in the coming months.

WHY THIS MATTERS

Homeward addresses a need in rural America, according to CEO Dr. Jennifer Schneider. 

“Despite the fact that nearly one in five Americans live in rural communities, our current healthcare system is ill-equipped to support these individuals with consistent access to high-quality care,” Schneider said by statement. “Our target market is tightly distributed among a small handful of health plans. In fact, approximately 90% of Medicare-eligible beneficiaries who live in rural markets are covered by seven payers. This funding enables us to reach rural populations even faster in partnership with health plans and local physicians.”

THE LARGER TREND

Homeward is an in-network provider that deploys an integrated care model including mobile, community-based care and technology. Homeward providers see members in mobile clinics throughout the community, virtually, and in members’ homes. These teams conduct physical exams, perform diagnostic tests, and integrate with regional health systems, local physicians, and specialists to provide care coordination, referring members to local in-person services as needed. 

The company supports Medicare-eligible beneficiaries, including by partnering with Medicare Advantage plans, and takes full risk for the cost of care of its members.

Schneider and other veterans from chronic care management company Livongo launched Homeward in March with a $20 million investment from General Catalyst.

It soon partnered with Rite Aid to allow pharmacists to connect their Medicare-eligible customers with Homeward for care.

Americans living in rural communities are experiencing increasing health disparities due to accelerated rural hospital closures and physician shortages. In fact, Americans living in rural communities suffer a mortality rate 23% higher than those in urban communities due to the lack of access to care, according to Homeward.

Twitter: @SusanJMorse
Email the writer: SMorse@himss.org

 



Source link

Advertisement Banner
Previous Post

How Retraining Your Brain Could Help With Lower Back Pain

Next Post

New Tablet Formulation of Calquence Approved for CLL, SLL, MCL

Next Post

New Tablet Formulation of Calquence Approved for CLL, SLL, MCL

Discussion about this post

Recommended

How New Federal Legislation Might Cut Your Drug Costs

3 days ago

Toric MX60 IOL effective in treating low astigmatism

2 months ago

Don't Miss

Is the Latest Polio Scare Actually Caused by the Vaccine?

August 16, 2022

Apple Cider Vinegar for Weight Loss

August 16, 2022

Visibly receives FDA clearance for online visual acuity test

August 16, 2022

ABDM building comprehensive digital health ecosystem for country, Health News, ET HealthWorld

August 16, 2022

© 2022 Pharma News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy.

Navigate Site

  • News
  • Medicine
  • Health Tech
  • Health Tech
  • Health Living
  • Contact
  • Privacy Policy

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Medicine
  • Health Tech
  • Health Living
  • Contact
  • Privacy Policy

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.