While a human life tends to boast many valuable elements, nothing here is seemingly more valuable than our ability to get better on a consistent basis. You see, when an individual is able to grow under each and every situation, they eventually guide themselves towards some huge milestones along the way. The same is pretty evident in whatever we have achieved so far, with one standout piece of testimony coming from an idea called technology. The reason why technology’s testimony is so unique from others is largely predicated upon its unprecedented skill-set. Nevertheless, beyond the stated factor, it is also inspired by how those skills were used to impact an entire spectrum, including our very own medical sector. Technology’s linkup with healthcare, notably enough, arrived at a time when the sector was struggling to hold up against an outdated structure. This will, of course, change over time, except even after giving the sector a wholly tech-driven identity, the creation will continue to make all the right noises. The same pattern, looking at one recent raise, now looks poised to get bigger and better moving forward.
Homeward, a San Francisco-based medtech company, has successfully secured over $50 million in Series B financing. The round, which was dominated by ARCH Venture Partners and Human Capital, is expected to fund the company’s bid of expanding beyond Michigan and partner with more health plans in the near future. Apart from it, Homeward will also use a chunk of the newly-raised cash to scale up its on-the-ground and virtual multidisciplinary care teams, including specialty care. These goals seem fitting for a company that has always focused on curbing the deficiencies around primary and specialty care within rural areas. So far, Homeward has fulfilled the stated purpose through an integrated care model that involves mobile, community-based care and technology. Nevertheless, having mastered the virtual care setup, the company is now planning to bolster its physical care efforts. This became apparent when Homeward, alongside the funding, also revealed the details of its new partnership with Priority Health, a health insurer under BHSH System. Dubbed as the company’s first ever value-based care partnership, the move will allow Homeward to provide primary and specialty care to upwards of 30,000 Medicare Advantage members in rural Michigan, but just like the previously laid out dynamic, there are hopes to expand its footprint at some point.
“Through the partnership, we are able to demonstrate how new kinds of technology-enabled care models, that are purpose build for rural Americans, and integrate with local providers and health systems, can expand clinical capacity within these communities and deliver better clinical outcomes at lower costs. Following the partnership announcement, we have experienced great excitement from across the industry,” said Dr. Jennifer Schneider, CEO of Homeward.
