Home hospital business receives $ 110 million gunshot
Monday’s announcement of a new $ 110 million funding round for Medically Home reflects continued expansion in hospital home care.
Medical technology company Baxter International, the leader in mobile health care Global Medical Response and Cardinal Health, which distributes medical supplies, including for home care, provided the latest infusion. They join Mayo Clinic and Kaiser Permanente as strategic investors and will be represented on the board of directors of Medically Home.
Kaiser and Mayo are also providing additional funds on top of the $ 100 million they invested in Medically Home in May 2021 to expand its operations and give more hospitals access to its model of care. The Boston-based company provides the technology and platform for clinicians to work remotely with medical staff in patients’ homes to treat conditions of higher acuity, from Covid-19 to heart failure and cancer.
The model has gained traction over the past two decades, but the pandemic has spurred growth as Covid-19 has made hospitals and clinics a dangerous place for the spread of infectious diseases. The pandemic has also strained the capacity of hospitals across the country. IInvestors are responding to both health care needs exceeding the number of hospital beds and consumer demand to expand the types of medical treatment that can be provided in the comfort of one’s own home.
Important regulatory changes at the federal level during the pandemic created the flexibility for higher level care to be provided at home, while detailing how to do so safely. The Medically Home model includes 24/7 medical command centers staffed by nurses and doctors who work with teams of nurses, paramedics and technicians in the field. Many patients prefer to be cared for at home, and the home hospital care model has been have shown increased clinical benefits compared to hospitalization. This includes reduced readmissions and a decrease in acquired infections.
Responding to the changing consumer and healthcare landscape, many medical organizations and some payers are now taking a more in-depth look at what kind of hospital care can be provided at home. Some hospitals have created their own programs, while companies like Current Health offer platforms that support home hospital programs.
To date, more than 7,000 patients have been treated using Medically Home’s platform, according to the company, which says use is increasing rapidly.
âThe addition of these strategic national partners powerfully strengthens our logistical capacity that our health system providers need to safely and reliably care for patients at home,â said Rami Karjian, Managing Director of Medically Home, in the statement. press release on the latest investment. . âThe accelerated decentralization of high-acuity care from hospitals and other institutional sites to an ever-increasing number of patient homes through Medically Home validates the importance of an ecosystem of health partners working together on behalf of patients and clinicians who treating them across the country. “
Beyond funds, each strategic partner is a piece of a puzzle that seeks to support ongoing high acuity home care. Medically Home’s partnership with GMR, for example, has already enabled it to add more clinicians to the field, while its partnership with Baxter gives it access to a wider range of medical and digital health solutions.
âBaxter’s strategic investment in Medically Home will help advance our vision to transform healthcare by accelerating access to hospital-based home care,â said Giuseppe Accogli, executive vice president and chief operating officer at Baxter, in the press release. âThe Covid-19 pandemic has enhanced the value of helping clinicians provide the best possible care to patients at home, and we are excited to help Medically Home expand its unique model of care while driving innovation in digital health and surveillance technologies and solutions. “
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