What you should know:
– Better healtha peer-to-peer provider of medical supplies and support, announces $14 million in strategic funding, which includes investments from Healthworxthe innovation and investment arm of CareFirst Inc., UHealth – University of Miami Health System and Mosaic General Partnership.
– This investment underscores industry recognition of Better Health’s critical role in revolutionizing the delivery of chronic health care.
Better Health Secures New Funding Round to Improve Chronic Care Solutions and Expand Services
Better Health, founded in 2019, provides support and medical supplies to people with chronic conditions including ostomy, chronic wounds, diabetes, chronic retention and incontinence. The company’s innovative solution challenges the status quo by providing a cohesive model of care that integrates peer coaching, education and home delivery of medical supplies. This approach focuses on engagement, adherence, improved outcomes and reduced costs.
This funding round builds on Better Health’s previous $10 million Series A funding round and includes participation from new investor Samsung Next, which expands its investment in healthcare solutions. Existing investors including Caffeinated Capital, General Catalyst, Bill Ackman’s family office, Table Management, and at.inc/ also participated in the round.
The funding will be used to provide a more comprehensive solution for payers and providers, while expanding into new categories to better serve members with chronic conditions. Additionally, Better Health is actively exploring the integration of AI into its value chain to further enhance and accelerate its already optimal experience for patients, payers and providers.
Present in 48 states, Better Health currently serves populations in a growing network of more than 150 health plans and health systems. For health plans, Better Health’s unmatched engagement of 10.5 interactions per year—2.5 times the average primary care provider engagement—helps improve health outcomes with a first-year ROI. This high level of engagement helps members with chronic conditions avoid unnecessary emergency room visits and overuse of care, impacting quality measures and bending the affordability curve.
For providers and their patients, Better Concierge’s dedicated support simplifies the often-tedious process of accessing medical supplies at home. By providing a single point of contact to facilitate referrals, insurance navigation, and care coordination, Better Health saves clinical teams hours of administrative work each week.
“We found that 86% of people who participated in the Better Health Peer Support program reported avoiding an unnecessary emergency room or doctor visit,” said Robert Mirsky, MD, Better Health clinical advisor and former Aetna Medicare medical director. “Being mentored by someone with a similar lived experience builds trust, helps patients gain more knowledge and confidence, and, as a result, improve adherence to their treatment. This allows Better Health to impact health outcomes and the cost of care.”
