Medicaid-Focused CareBridge Tops Inc. Magazine’s Fastest-Growing List
Topping this year’s Inc. Magazine list of the 5,000 fastest-growing privately owned companies in America is a Nashville-based healthcare company called CareBridge. It is the first healthcare company in a decade to be ranked No. 1 on the list.
CareBridge focuses on value-based care in the Medicaid space. It serves Medicaid and dually eligible patients with physical, intellectual and developmental disabilities by providing 24/7 access to an interdisciplinary clinical team of physicians, nurses, pharmacists and social workers. The company said that patients are provided a tablet so that they, their families, and their caregivers can access video visits from CareBridge's clinical team 24 hours a day, seven days a week. Patients also receive regular assessments to ensure they have the resources and support they need to maximize their independence and safety at home.
Over the past 12 months, CareBridge has grown nearly 5x, expanding from serving approximately 25,000 patients in July 2022 to serving around 115,000 patients today. CareBridge currently serves members across 13 states and the District of Columbia in partnership with the nation's five largest managed Medicaid care plans. CareBridge will have over 500 employees by the end of this year, a roughly 175 percent increase from 2022, and is on pace to more than double its revenue between 2022 and 2023.
"Our tremendous growth over the past three years speaks to the quality of services we are providing to patients with physical, intellectual and developmental disabilities," said Brad Smith, executive chairman of CareBridge and former director of the Center for Medicare and Medicaid Innovation (CMMI), in a statement. "We are excited to be working every day to help individuals remain healthy, safe and as independent as possible at home."
CareBridge is the second company Smith has had on the Inc. 500 list. His prior company Aspire Health, where many of the individuals on CareBridge's leadership team previously worked, was ranked No. 189 in the 2018 list of the Inc. 5000.
