DispatchHealth, a Denver, Colorado-based startup offering in-home care to patients, has closed a $33 million financing round, according to a news release.
Echo Health Ventures led the round. Alta Partners, Questa Capital and additional strategic investors participated as well.
Founded in 2013, DispatchHealth was previously known as True North Health Navigation. The company provides on-demand healthcare for patients of various ages.
To request care, an individual can call DispatchHealth directly or utilize the company’s website or mobile app. The company’s medical providers will review the patient’s symptoms and send the right care to the patient’s home. DispatchHealth providers treat conditions that an urgent care center can, such as fevers, pneumonia, food poisoning, UTIs, sinus infections, vomiting and vision problems. They can also perform certain tests on site.
After treatment, the DispatchHealth team sends notes back to the patient, his or her primary care physician and his or her senior living community (if applicable).
Currently, the Denver startup serves patients in 10 different markets across eight states. Examples include Phoenix, Arizona; Colorado Springs, Colorado; Las Vegas, Nevada; Oklahoma City, Oklahoma; and Richmond, Virginia. Earlier this year, it brought its model into three new markets with the support of health system partners in Massachusetts, Washington and Texas.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The company works with Medicare, Medicaid and insurance plans in the markets it serves. Some of its partners include Anthem, Humana, Bright Health, CareMore Health, Cigna and Aetna. DispatchHealth also partners with health systems like Baystate Health, Bon Secours Richmond, Texas Health and MultiCare.
With the new $33 million in funding, the startup intends to open additional locations across the country and expand its treatment capabilities. Additionally, the money will go toward improving its mobile app and logistics platform.
“Our growing senior population is a group that often faces mobility limitations and can benefit from the safe, effective and convenient care that in-home treatment provides,” DispatchHealth co-founder and CEO Mark Prather said in a statement. “We’re committed to helping all individuals receive the right care, at the right time, in the comfort of their own home or place of need. The financial support and strategic expertise of Echo Health Ventures will allow us to extend our current care model into longer-term, episodic interventions for individuals requiring more advanced treatment.”
Earlier this year, the Denver company joined forces with Philips as part of a pilot study to aid seniors. The service is available to certain Arizona members of Mercy Care, who can use their Philips Lifeline medical alert system to request care from DispatchHealth.
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