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Chicago, January 7, 2024 /PRNewswire/ — WellBe Senior Medical, which provides home-based value-based care to the Medicare Advantage population, announced an investment from CVS Health Ventures, the corporate venture capital arm of CVS Health. This strategic partnership and investment will help accelerate WellBe’s national expansion. Currently, WellBe operates in seven states and has more than 107,000 members on Medicare Advantage or above. 2 billion dollars We are the fastest growing independent provider of managed premium, Medicare Advantage home value-based care.
The company’s rapid growth highlights the critical need for better solutions and investment in senior healthcare. “CVS Health Ventures is committed to providing seamless access to quality health care, especially for vulnerable populations such as seniors.” vijay patel, Managing Partner of CVS Health Ventures. “WellBe’s innovative approach to home health care aligns with our vision to redefine the way health care is delivered in a multi-payer, patient-centric manner. We support their mission to help people live healthier, happier lives.” in their homes. ”
WellBe’s prescribing providers bring professional geriatric care to patients’ homes. Many of the services available in a typical doctor’s office are now available in the home, actively managing the care of the sickest and most complex Medicare Advantage patients. WellBe partners with Medicare Advantage health plans through global capitalized risk arrangements to manage its 10 to 15 percent of members, where medical loss rates are extremely high and on the rise. This allows WellBe to guarantee savings in advance of health plans and assume the risk of managing this expensive population. WellBe’s best-in-class model provides patients with proactive home care that is available to them 24/7, avoiding unnecessary hospitalizations and reducing total healthcare costs while increasing overall patient satisfaction. will help you improve. Additionally, WellBe has improved her HEDIS measures, increasing her star rating from a minimum of 2.5 to a maximum of 4.5.
WellBe was co-founded by Chicago Pacific Founders (CPF), which provided the capital to grow WellBe to this point. CPF invests in founder-led healthcare services companies and helps drive innovation in healthcare services. “Welby has proven its ability to significantly improve the quality and health outcomes of the sickest and most vulnerable people in our communities.” mary tran, Founder and Managing Partner of CPF. “We are passionate about Wellbe’s commitment to providing our families and loved ones with the level of care we want. Our patient outcomes speak volumes about our company.”
“All of us have had an elderly friend or family member whose health conditions become more complex as they age, limiting all aspects of their lives,” Dr. Jeffrey Kang, Founder and CEO of WellBe Senior Medical. “For this reason, traditional office-based care is often inconvenient, unresponsive, and unavailable when needed. Instead of bringing these frail patients to care, solutions are It’s about making it possible to provide care in the home. WellBe has found that over 90% of services performed in a GP’s office can easily be provided at home. WellBe’s home aged care is available to everyone. “This collaboration with CVS Health Ventures will remove new barriers to patient care. It strengthens our mission to share proven care models with more payers, more communities, and more patients.”
About Wellbe Senior Medical
WellBe Senior Medical works with health plans to provide home health care (HBMC) to patients facing multiple complex health challenges. WellBe providers are committed to delivering personalized CompleteCare™ wherever patients call home. Our care team works with patients, their caregivers, and physicians to foster all aspects of health. For more information or to see if you or a loved one qualifies for her WellBe Senior Medical care, visit wellbe.com or call 1-855-493-5523.
About CVS Health Ventures
CVS Health Ventures is a dedicated corporate venture capital fund that works with high-potential early-stage and growth-stage companies focused on making health care more accessible, affordable, and simpler. . The company is focused on investments that transform the delivery of care, focusing on enabling whole-person care, consumer-centric health, and disruptive technologies. CVS Health Ventures’ goal is to help up-and-coming entrepreneurs become more agile and effective through access to unparalleled enterprise capabilities and consumer touchpoints, while providing expertise and insights from the company’s unique perspective. It’s about being able to scale up. For more information, visit cvshealth.com/health-care-redefined/ventures.html.
About Chicago Pacific Founders
to the original Chicago and San Francisco, Chicago Pacific Founders (“CPF”) is a leading strategic private equity firm focused on investing in growth companies in value-based care, healthcare services, AI and technology-enabled services, and care for an aging population. . CPF believes that the most significant social impact and return on investment from health care over the next decade will come from investing in innovations in delivery models. CPF’s leadership team is comprised of former healthcare founders, senior executives, and investment professionals with a passion and track record of building healthcare businesses. Additionally, CPF has a vertically integrated senior housing strategy and a complementary medical office investment strategy that leverages CPF’s extensive healthcare industry relationships. For more information, please visit www.cpfounders.com.
contact: brian royle
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SOURCE Wellbe Senior Medical
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