What You Should Know:
– Homeward raises $50M Series B funding round co-led by ARCH Venture Partners and Human Capital.
– The funding round also includes participation from General Catalyst, which led Homeward’s Series A funding, and Lee Shapiro and Glen Tullman, Co-Founders of 7wireVentures, one of the country’s most successful early-stage healthcare venture funds.
Value-Based and Comprehensive 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 percent higher than those in urban communities due to the lack of access to quality care. Homeward is rearchitecting rural health and care for the 60 million Americans living in rural communities. As a new value-based care provider, Homeward employs multidisciplinary care teams, available in-home, virtually, and on the ground via mobile care units, with remote monitoring to better connect patients to high-quality, affordable, and comprehensive care.
Homeward is an in-network provider that deploys an integrated care model including mobile, community-based care and technology. Through this approach, Homeward improves convenient access to care, supports ongoing health management, and appropriately triages clinical services to help healthcare professionals practice at the top of their licensure. 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. Using cellular-based remote monitoring, Homeward keeps members connected to their multidisciplinary care team wherever they are, and uses the information to deliver a deeply personalized care experience and positive health outcomes.
VBC Partnership with Priority Health
Homeward also announced its first value-based care (VBC) partnership with Priority Health to deliver comprehensive care to Medicare Advantage members in rural Michigan. The company will use the new funds to accelerate expansion into new markets through value-based contracts with health plans. 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.
“Homeward has combined an impactful mission with what we believe to be an incredible leadership team,” said Armaan Ali, co-founder and chief executive officer of Human Capital. “We’re impressed with their early success as they continue improving access to care while also striving to uplift communities within the markets they serve. We’re excited to help build what we feel is a world-class team at Homeward.”