Thursday, June 18, 2015

Aledade Raises $30M to Improve Preventative Care

Two days shy of their one year anniversary, Bethesda based Aledade has announced a series B funding round of $30M. The funding round was led by ARCH Ventures Partners, and backed by their initial series A backers, Venrock.

Led by Farzad Mostashari, the former National Coordinator for Health Information Technology at the US Department of Health and Human Services, Aledade is a small company that empowers doctors on the front lines of medicine that puts them in control of healthcare. More specifically, Aledade creates partnerships with physician offices where they provide analytics software that supports preventive care. By lowering physician costs through preventive care under Medicare guidelines, a savings is produced.

Aledade Raises $30M to Improve Preventative Care

Since Aledade’s launch they have partnered with more than 100 primary care practices in nine states, reaching nearly 500,000 patients and soon will be supporting 75,000 Medicare patients.
In a blog post by Mostashari, he stated that “this investment is a testament to the growing demand for our technology-enabled services, and to the rapid progress we have made in creating a platform for doctors to manage the new value-based health care economy. But most importantly, it’s a commitment to long-term thinking.”

“We need to build a platform that will provide all the services our practices need, not just some; that will serve all of our practice’s patients, not just the ones on Medicare,” stated Mostashari. “That will deliver results not for one ACO, or for five, but for 50 – or 500. Better health at lower cost not just for one year, or three, but for a lifetime.”

What is their platform and who will it serve ?

Formation of an Accountable Care Organizations is an intimidating venture, even for medium to large size health systems.  For individual or small practices it may be impossible without outside assistance.

Adelade may be an answer to this challenge. According to it's founders, Farzad Mostashari and Matt Kendall they hope their new organization will play a large role for transitioning to a new payment model.

Matt Kendall
                                                                    Farzad Mostashari

Participants in Adelaide benefit from their experiences with several
other participating practices, such as:

ACO Participants
  • Green Spring Internal Medicine, LLC
  • Salvatore S. Volpe, MD, PC
  • South Shore Physicians
  • Gerald Dimaso MD, PC
  • Calvert Internal Medicine Group, PA
  • Anthony Anston, DO, PLLC
  • James E. Zini, D.O, P.A
  • The Winston Clinic, PA
  • Cal Arundel Family medicine, LLC
  • Dunkirk Family Practice PA
  • Western Maryland Health Care Corporation
  • Shawn Purifoy, M.D., P.A.
This organization appears to be a good mix of experienced ex-HHS/CMS executives partnered with boots on the ground practitoners.  It may be an interesting venture.

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