- Medically Home recently announced it raised a $110 million funding round from strategic investors. These are the details.
Medically Home recently announced it raised a $110 million funding round from strategic investors including Baxter International, Global Medical Response (GMR), and Cardinal Health — who will each have representation on the company’s Board. And Cardinal Health, Mayo Clinic, and Kaiser Permanente are providing additional capital on top of their previous investments, demonstrating confidence in the growing expansion of the model nationwide.
The Medically Home model unlocks patients’ homes as safe alternative sites for receiving high and lower acuity care across the care continuum in the comfort and convenience of their homes. And 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. Over 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.
The newest and existing strategic investors in Medically Home represent a further coming together of the necessary ingredients to safely accelerate the scaling of the model. And the model is expected to increase demand for a next-generation clinical workforce that combines centralized care oversight (guided by physicians and nurses in medical command centers) with field clinicians (nurses, paramedics, and technicians), who work seamlessly as a team. This workforce is supported by Medically Home’s national partners that bring all the needed clinical and supportive services, medication, medical equipment, technology, and other capabilities that create a safe and effective site of advanced medical care.
The relationship with GMR — including a national service agreement — has already demonstrated its ability to add more clinicians going into the field in a time when there is a shortage of skilled clinical resources, a critical element that will enable Medically Home’s model to scale.
KEY QUOTES:
“The addition of these strategic national partners powerfully strengthens our logistics capability which our health system providers need to safely and reliably care for patients in their homes. The accelerating decentralization of high acuity care from hospitals and other institutional sites to an ever-increasing number of patient’s homes enabled by Medically Home, validates the importance of an ecosystem of health care partners working together on behalf of patients and the clinicians that care for them across the country.”
“The work with GMR that began last year, focuses GMR’s national clinical rapid response capabilities across the US on the growing hospital at home movement being accelerated by health systems like Mayo Clinic and Kaiser Permanente. It leverages GMR’s unprecedented resources and vast network of home-based providers and is a perfect fit for our vision going forward.”
— Rami Karjian, chief executive officer of Medically Home
“Baxter’s strategic investment in Medically Home will help advance our vision to transform healthcare by accelerating access to hospital-level care at home. The COVID-19 pandemic reinforced the value of helping clinicians deliver the best possible care for patients at home, and we are thrilled to help Medically Home expand its unique care model while furthering innovation in digital health and monitoring technologies and solutions.”
— Giuseppe Accogli, executive vice president and chief operating officer at Baxter
“As the national leader in medical transportation and mobile healthcare services, GMR is proud to be part of the expansion of patient care at home with Medically Home, the leader in acute care at home and other related decentralized medical services. This partnership is a natural fit with GMR’s 30,000 exceptional frontline clinicians who provide care at a moment’s notice with our health system partners. Our current at-home partnership with Medically Home has already proven that this model works well for patients, hospital systems and caregivers, and we’re looking forward to future growth opportunities with Medically Home.”
— Randy Owen, Global Medical Response CEO
“Our continued partnership illustrates Cardinal Health’s strong commitment to Medically Home and the unrelenting efforts of so many to transform healthcare and expand the accessibility of safe, effective hospital-level care at home. Enabling health equity and decentralized care for patients to receive hospital level care is no longer healthcare of the future – it’s here today, and Cardinal Health is devoted to working closely with Medically Home and its partners to collectively provide optimal, in-home patient experiences and outcomes.”
— Suzanne Foster, President, Cardinal Health at-Home Solutions
“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.”
— Stephen Parodi, M.D., executive vice president of The Permanente Federation at Kaiser Permanente
“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.”
— Maneesh Goyal, chief operating officer of the Mayo Clinic Platform
