Better Health, a medical supply and support provider built on peer-to-peer connection, announced today a $14 million strategic funding round. This round included investments from Healthworx (the investment arm of CareFirst), UHealth—University of Miami Health System, and Mosaic General Partnership. This investment emphasizes the industry’s recognition of Better Health’s role in transforming healthcare delivery for chronic conditions.
This funding builds on Better Health’s previous $10 Million Series A round and brings the company’s total funding to $27.5 million. And the round also included participation from new investor Samsung Next, which continues to expand its investment in healthcare solutions, along with existing investors, including Caffeinated Capital, General Catalyst, Table Management, Bill Ackman’s family office, and at.inc/.
Launched in 2019, Better Health provides support and medical supplies for people with chronic conditions, like ostomy, wound care, diabetes, chronic retention, and incontinence. The company’s approach combines peer coaching, education, and home delivery of medical supplies, focusing on driving engagement, adherence, improved outcomes, and reduced costs.
With a 97% customer satisfaction rating, patients benefit from better outcomes due to a better understanding and use of products, coaching from someone with similar experiences, and the removal of the stress of dealing with insurance and reimbursement.
Operating in 48 states, Better Health serves the populations of over 150 health plans and health systems. And for health plans, Better Health can impact quality measures and lower costs by reducing avoidable ER visits and overutilization of care and improving health outcomes for chronically ill members, while demonstrating first-year ROI.
For providers and patients, Better Concierge’s dedicated support simplifies the burdensome process of accessing home medical supplies through a single point of contact for easy referrals, insurance navigation, and care coordination.
KEY QUOTES:
“Better Health will use the funds to continue expanding its network of payer and provider partners, roll out more implementations, and expand into new categories, ultimately allowing us to reach more people with chronic conditions who need our services.”
- Naama Stauber Breckler, CEO and co-founder of Better Health
“Healthworx aims to invest in and partner with solutions that reduce cost of care, increase access to care, and improve health outcomes. We invested in Better Health to support their work toward bettering access and outcomes for patients dealing with chronic conditions, especially those who rely on durable medical equipment as a part of daily life.”
- Christopher George, Investment Manager at Healthworx
“Better Health’s traction in the past year with payers and health systems validates the demand for their solution. Better Health offers a much-needed and improved experience for chronic care patients dependent on home medical supplies. Pairing a best-in-class product engine to order supplies with a scaled peer-to-peer platform for empathetic information sharing is very powerful.”
- Fatima Husain, General Partner at Mosaic General Partnership
