Medically Home Announces a $110 Million Round of Funding
On Jan. 10, Medically Home announced via a press release a new $110 million round of funding from strategic investors including Baxter International Inc., Global Medical Response (GMR), and Cardinal Health who will each have representation on the company's Board. Additionally, Cardinal Health, Mayo Clinic, and Kaiser Permanente are providing additional capital on top of their previous investments.
The release states that, “The Medically Home model unlocks patients' homes as safe alternative sites to receive high and lower acuity care across the care continuum in the comfort and convenience of their homes. This capability is designed to increase health system capacity and resiliency, while meeting the needs and wants of patients, who often prefer to be cared for at home or in a homelike setting. More than 7,000 patients have been treated using the Medically Home platform and ecosystem, as delivered by health systems across the country and utilization is expanding rapidly.”
According to the release, the model is expected to increase demand for “a next-generation clinical workforce” that combines centralized care oversight with field clinicians who work as a team.
Stephen Parodi, M.D., executive vice president of The Permanente Federation at Kaiser Permanente was quoted in the release saying that, "With the growing number of people who are aging over 65, we need to create and implement programs that will address the needs of this population at scale. Over the next decade, up to a third of the patients who are currently hospitalized in brick-and-mortar hospitals could be cared for at home. Kaiser Permanente believes that providing this type of care is a way to improve access to safe acute and restorative care for an older population and for other patients with serious or complex illnesses."
Maneesh Goyal, chief operating officer of the Mayo Clinic Platform was also quoted in the release saying that, "The partnership with Medically Home advances Mayo Clinic mission and values that are optimized for the digital age. The new round of investment affirms the power of partnerships with like-minded organizations and will help more people have the choice to experience this unique model of care in the comfort of their homes."
