Health Endeavors has launched an artificial intelligence-powered care management suite and received a strategic growth-debt investment from Decathlon Capital Partners.
The financing will help Health Endeavors expand its technology to additional Accountable Care Organizations and healthcare providers across the United States.
The companies did not disclose the size or financial terms of the investment. The growth-debt structure does not require Health Endeavors’ current shareholders to dilute their ownership.
Health Endeavors provides technology for Accountable Care Organizations and other value-based care arrangements.
Under value-based care models, healthcare providers are rewarded for improving patient outcomes, coordinating services and controlling unnecessary costs rather than being paid solely based on the number of appointments, procedures or tests performed.
The company’s new care management suite is centered on Alex, a virtual care manager designed to engage tens of thousands of patients simultaneously.
Alex can educate and motivate patients, schedule appointments, collect information and alert care teams when human involvement is required. Health Endeavors emphasized that the system does not practice medicine and keeps clinicians responsible for care decisions.
The virtual care manager is intended to automate administrative and engagement tasks that can otherwise consume substantial portions of clinicians’ time.
For example, the system could help remind patients about appointments, gather information about their circumstances and identify cases that may require follow-up from a nurse, physician or other care professional.
Alex is powered by OmniView, Health Endeavors’ platform for creating comprehensive digital patient profiles.
OmniView combines information from medical claims, clinical records, social determinants of health and consumer data. Bringing these sources together can help healthcare organizations identify care gaps that might not be apparent from a single medical record.
Social determinants of health include non-medical factors such as housing, transportation, food access and financial circumstances that can affect a person’s ability to receive care or follow a treatment plan.
The suite also incorporates MedPearl, a clinical decision-support library developed at Providence Health.
MedPearl provides evidence-based guidance at the point of care and acts as a clinical safeguard for Alex’s patient interactions. This is intended to help ensure that automated engagement remains aligned with established medical knowledge and defined care protocols.
Together, Alex, OmniView and MedPearl form a system for identifying patient needs, conducting routine outreach and escalating cases that require a clinician’s attention.
Health Endeavors believes this structure can help providers manage larger patient populations without proportionally increasing administrative workloads.
The company serves more than two million patients and has more than 16 years of experience supporting Accountable Care Organizations and value-based arrangements.
Health Endeavors works with clinical equity partners Novant Health and Providence to provide AI-supported patient engagement services.
The company is also an Office of the National Coordinator for Health Information Technology-certified electronic clinical quality measure vendor and a Medicare Qualified Registry.
These designations support Health Endeavors’ work helping healthcare organizations collect, manage and submit information related to care quality and Medicare programs.
The growth investment from Decathlon Capital Partners will allow Health Endeavors to expand without issuing additional equity to the investor.
Growth debt can provide capital for hiring, product development, sales expansion and other initiatives while allowing founders and existing investors to retain their ownership percentages.
Unlike conventional bank loans, growth-debt agreements are often customized around a company’s revenue, growth plans and operating model. The exact repayment structure for Health Endeavors’ financing was not disclosed.
Decathlon Capital Partners specializes in providing non-dilutive growth financing to companies seeking alternatives to traditional venture capital or private equity investments.
For Health Endeavors, the financing is expected to support broader deployment of its care suite as providers seek more scalable methods for engaging patients and closing gaps in care.
The company is headquartered in Farmington, Utah.
KEY QUOTES:
“Our unified intelligence platform delivers precise, hyper-personalized solutions that maximize efficiency, quality and impact.”
“Our partnership with Decathlon Capital Partners allows us to expand our robust solutions to a growing number of clients.”
David Derrick, CEO of Health Endeavors
“Accountable Care Organizations and value-based care are focused on successful patient outcomes, and Health Endeavors provides the actionable insights that allow providers to deliver effective care.”
“Decathlon Capital Partners is proud to work with Health Endeavors to advance a proactive, prevention-focused approach to healthcare.”
Matt Hoffman, Managing Director of Decathlon Capital Partners
