Advance Health Raises $40 Million In Growth Capital To Propel Remote Patient Monitoring Services

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Boston-based remote patient monitoring startup Advance Health has raised a $40 million growth round led by Summit Partners, with additional participation from Noro-Moseley Partners. The new funding is Advance Health’s first publically disclosed investment round, an impressive feat because it means that the team built and scaled the company without taking on VC money.

Advance Health is a remote patient monitoring startup building an outreach platform with a variety of patient touch points, including primary care offices, clinics, home-based programs, and mobile health apps. The business is operating a service-based model, rather than as a pure technology business. Nurse Practitioners are employed to take ownership of improving outcomes, and the digital health technologies that Advance Health creates are being designed to support them in this broader goal. While pure technology companies have struggled to meaningfully improve care delivery, service-based digital health companies are digging in for a longer battle and seem to have more to show as a result. Advance Health, for example, reports an impressive 47-percent drop in readmission rates after going live with its readmission prevention program, and boasts a 65-percent improvement over the national average Medicaid fee-for-service readmission rates.

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Advance Health’s readmission reduction program starts while the patient is still in the hospital. At that time, a NP will call or visit with the patient, perform a pre-discharge risk assessment, and then schedule periodic in-home visits over the next 30 days. While conducting visits, nurses use a mobile electronic documentation app that connects the patient, the NP, and the primary care provider on a single platform. The app trends outcomes-based goals and supports clinical documentation for providers and NP so that the patient can see the progress they are making toward recovery. If recovery stalls, the app will respond by adjusting the care plan and health questionnaire to re-establish the recovery process.

There is growing interest in the service-based digital health business model, in which technology is developed and deployed alongside on-staff clinicians who will use the technology and drive the changes being pursued. While baby boomers have largely embraced technology, the generation that is now consuming a majority of healthcare services seems to engage and respond better when an actual local clinician is guiding their recovery.


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