Pearl Health raises $75M to grow tech platform for value-based care – Mobihealth News
Gem Health, which offers a technology platform for primary care practices in value-based treatment arrangements, announced Thursday it had raised $55 million in Series B funding. The company said this also anticipates receiving a $20 mil line of credit outside of the equity raise.
The round was led by Andreessen Horowitz and Viking Global Investors, with participation from investors including AlleyCorp and SV Angel. The company introduced an $18 million Series A in September 2021.
WHAT IT DOES
Peal offers a technology platform geared toward primary care providers participating within Medicare’s ACO REACH model. It includes data visualizations and recommendations so clinicians can see which patients may need extra support, like those who have multiple chronic conditions or who have been recently discharged from a hospital.
The particular startup’s tools also aim to distill patient information into easier-to-digest reports and track important metrics, like readmission rates plus whether patients are going to annual wellness visits.
Pearl said it will use the funds from the Collection B increase to build new partnerships, add new offerings, and invest in research and development.
“We are grateful to have the support of such esteemed investors as we continue to build technology that enables physicians to provide better care for their patients plus helps our healthcare system transition from volume in order to value, ” Pearl Health CEO Michael Kopko stated in a statement.
“This latest round of financing, combined with our own previous investments, will allow us to expand our network and accelerate the development of innovative solutions that place companies at the center of healthcare delivery and cost management. ”
MARKET SNAPSHOT
Early last year, the particular Centers with regard to Medicare plus Medicaid Services said it was redesigning its Medicare Direct Contracting Model to an Accountable Care Organization design focused on health equity. The newly designed arrangement, called the ACO Realizing Equity, Access, and Community Wellness (REACH) Design , began this year with 132 participants.
CMS wants all traditional Medicare beneficiaries in an accountable care relationship simply by 2030. ACOs are groups of doctors, hospitals and other providers who work together to supply coordinated care to Medicare patients. The particular goal is to avoid duplicate services and medical errors.
Other companies that aim to provide support plus technology solutions to practices in value-based care arrangements include UpStream Healthcare, which usually recently elevated $140 million in Series B funding , and Aledade, which scooped up $123 million in a Series E round this past year.