Vytalize Health, a Hoboken, NJ-based risk-bearing provider enablement platform, has closed $100 million in funding. The round was led by Enhanced Healthcare Partners and Monroe Capital, with participation from North Coast Ventures.
The health company will use the funding to advance responsible value-based care for seniors by bolstering primary care practices.
“We have a responsibility to ensure the ongoing success of value-based care by building high-performing systems of care that truly advance quality, improve the patient experience, and are sustainable for providers and the system overall,” said Faris Ghawi, Vytalize Health Co-Founder and CEO.
“Primary care is a key part of the delivery system. We must protect and reward independent primary care physicians who deliver more data-driven and effective patient care. In this outcome-based environment, we can focus on real, proactive health care vs. sick care and align our model with what’s better for patients,” added Faris Ghawi.
The quality and cost of healthcare are significantly impacted by decisions made in the primary care setting.
Upstream utilization, including specialists, hospitals, and auxiliary service providers like home health agencies and nursing homes, is significantly influenced by primary care physicians.
Vytalize Health is tackling the healthcare industry’s challenges with a value-based care delivery system
For more than 250,000 patients, Vytalize Health collaborates with primary care clinics and provides evidence-based advice at the point of care.
The healthtech startup improves by giving doctors and their employees the relevant information at the right time in the workflow.
The platform offers financial rewards to practices implementing recommendations and improving patient outcomes.
The strategy used by Vytalize Health to increase access to high-quality care also entails running a virtual and in-home clinic.
Over the past few years, the organization has established several programs, including the Priority Care programme, which uses data to identify patients with the greatest needs.
With a holistic approach to care, this program expands the practice’s reach into patients’ homes and considers social, economic, and other non-clinical aspects of their surroundings.