What You Should Know:
– Better Health, a medical supply and support provider built on peer-to-peer connection, announces $14 million in strategic funding, which includes investments from Healthworx, the innovation and investment arm of CareFirst Inc., UHealth – University of Miami Health System, and Mosaic General Partnership.
– This investment underscores the industry’s recognition of Better Health’s pivotal role in revolutionizing healthcare delivery for chronic conditions.
Better Health Secures New Financing Round to Enhance Chronic Care Solutions and Expand Services
Better Health, established in 2019, provides support and medical supplies for individuals with chronic conditions, including ostomy, chronic wounds, diabetes, chronic retention, and incontinence. The company’s innovative solution challenges the status quo by offering a cohesive care model that integrates peer coaching, education, and home delivery of medical supplies. This approach focuses on driving engagement, adherence, improved outcomes, and reduced costs.
This financing round builds on Better Health’s previous $10 million Series A round and includes participation from new investor Samsung Next, which is expanding its investment in healthcare solutions. Existing investors, including Caffeinated Capital, General Catalyst, Bill Ackman’s family office Table Management, and at.inc/, also participated in this round.
The funding will be used to deliver a more comprehensive solution to payers and providers, while expanding into new categories to better serve members with chronic conditions. Additionally, Better Health is actively exploring the incorporation of AI into its value stream to further enhance and accelerate its already best-in-class experience for patients, payers, and providers.
Operating in 48 states, Better Health currently serves the populations of a rapidly growing network of over 150 health plans and health systems. For health plans, Better Health’s unparalleled engagement of 10.5 interactions per year—2.5 times more than the average primary care provider engagement—enables improved health outcomes with a first-year ROI. This high level of engagement helps chronically ill members avoid unnecessary ER visits and overutilization of care, impacting quality measures and bending the affordability curve.
For providers and their patients, Better Concierge’s dedicated support simplifies the often burdensome process of accessing home medical supplies. By offering a single point of contact for easy referrals, insurance navigation, and care coordination, Better Health saves clinical teams hours of administrative work each week.
“We’ve seen a remarkable 86% of the people who went through the Better Health Peer Support program reported they were able to avoid an unnecessary ER or doctor visit,” says Dr. Robert Mirsky, Better Health clinical advisor and the former Chief Medical Officer of Aetna Medicare. “Receiving coaching from someone with similar lived experience builds trust, helps patients gain more knowledge and confidence, and as a result be more compliant with their treatment. This enables Better Health to drive impact on health outcomes and cost of care.”
