DispatchHealth’s in-home care model raises $136mn investment
Healthcare startup DispatchHealth has announced raising almost USD$136mn ($135.8mn) in its latest Series C funding round.
Led by Optum Ventures the round also featured returning investors Alta Partners, Questa Capital, Echo Health Ventures, as well as new investors including Oak HC/FT and Humana Inc.
The company, which was founded in 2013 with the goal of creating an integrated and convenient platform for delivering high-quality, lower-cost care to patients in their homes, considers the utility of its service to be more relevant now than ever before.
Able to provide a vital lifeline for those with complex or extensive healthcare needs, DispatchHealth saves patients from having to travel to outside locations for treatment, something which, especially during the COVID-19 pandemic, could lead to further health complications.
Its service is currently available in over 19 cities across the US, with capacity expected to increase imminently. Users can rest assured that they will get the treatment they need as DispatchHealth covers them 24/7 for 365 days of the year.
Delivering care to the home
Accessible via smartphone, tablet or computer, DispatchHealth is a well-equipped and fast service: within two hours of being requested, a trained medical team will arrive at the patient’s door.
“Approximately a third of the cost of the U.S. health care system is devoted to facility-based care delivery, such as emergency rooms, hospitals, and post-acute facilities,” said Dr. Mark Prather, CEO and Co-Founder of DispatchHealth.
“For seven years, our care model and technology platform have demonstrated lower costs and improved outcomes by delivering care safely in the home. Adoption has consistently grown, and our Net Promoter Score of 95 across our first 160,000 patient visits indicates high satisfaction.
“We appreciate the support of investors, and look forward to working with them to continue executing on our transformational vision,” he added.
Extending healthcare beyond its parameters
Facilitating this service requires large-scale collaboration with other service providers on DispatchHealth’s part, including healthcare institutions, pharmacies and insurance companies within the US.
It is the company’s ability to pool these separate entities together which enables such an efficient and successful service for patients. Larry C. Renfro, Managing Partner at Optum Ventures, commented that DispatchHealth was ushering in a new approach to healthcare.
“DispatchHealth is extending health care beyond traditional facilities to the most accessible environment of all: the patient’s home. We are excited to continue partnering with DispatchHealth to drive value and outcomes for the industry.”
In agreement with this assessment is Susan Diamond, Segment President of Home Business at Humana, who stated that the service recognised a trend of healthcare moving away from dedicated facilities and remaining in the home instead.
“Home is increasingly the place where people prefer to receive their care. This is especially true for older adults with multiple chronic conditions,” she said.
“We believe DispatchHealth’s clinical delivery model can improve the overall patient experience and health outcomes by allowing people to remain comfortable at home while also empowering the medical team to more easily identify patient needs than they can in a clinical setting."
Image courtesy of DispatchHealth