What You Should Know:
– evolvedMD, a Collaborative Care Management (CoCM) provider, announced the close of its $34M Series B investment round, led by Sustainable Investing at Goldman Sachs Alternatives. Existing investors Conductive Ventures, FCA Venture Partners, Healthworx Ventures, Tectonic Ventures, and Waterline Ventures also participated in the round.
– The funding will be used to accelerate evolvedMD’s mission to increase behavioral health care availability and expand its reach nationwide, while maintaining its core focus on improving accessibility and quality of care.
Collaborative Care Management Model: An Evidence-Based Approach
Launched in 2017, evolvedMD delivers care using the Collaborative Care Management (CoCM) model, an evidence-based approach that integrates mental health into primary care and other specialties. The company enhances this model by training, employing, and managing behavioral health providers who are embedded on-site at more than 200 locations across Arizona, Utah, Florida, New Mexico, and Colorado. These providers are supported by a broader team of clinical managers, care coordinators, and psychiatric nurse practitioners, ensuring high-quality mental health services in a convenient, trusted, and accessible setting for patients.
Reduction in Risk-Adjusted Cost of Care
evolvedMD recently announced the results of a study, conducted in partnership with a leading third-party healthcare consulting firm, examining the impact of the Collaborative Care Model on cost of care and select patient outcomes. This study demonstrated an overall 3-7% reduction in the risk-adjusted cost of care for commercially insured patients utilizing any Collaborative Care Model, with a higher, 15% reduction specifically for commercially insured patients utilizing evolvedMD.
“evolvedMD was created to address the significant behavioral health needs in the United States, with a unique model designed to provide integrated, high-quality care to patients,” said Erik Osland, Co-Founder and CEO of evolvedMD. “We are excited to further our mission of increasing behavioral health care availability and expanding our reach, while maintaining our core company focus of improving accessibility of care.”
