Homeward https://www.homewardhealth.com a new company focused on improving access to high quality affordable primary and specialty care in rural communities was launched with a $20 million investment from General Catalyst https://www.generalcatalyst.com.
Homeward is the first investment in General Catalyst’s new $800 million Creation Fund which focuses on collaborating with executives to create and build new businesses in the firms’ core areas of interest which is to address health equity and serve rural communities.
Homeward delivers a new hybrid model of technology and services that will immediately increase access to primary care and specialty services, beginning with cardiology. The company employs a multidisciplinary care team available both virtually and on the ground via mobile care units with in-home remote monitoring, to keep patients connected to their care team. Cellular based monitoring devices and virtual services will be used to better connect to even the most remote members.
For example, under a traditional care delivery model, a patient suffering from heart failure is often diagnosed only after they arrive at the ER. Homeward will now use more proactive measures including remote patient monitoring to detect the signs of a heart problem early, followed quicky by an in home visit to test, diagnose, and treat the problem. Virtual visits will follow until the issue is resolved.
By working with existing trusted healthcare provider networks, the company will augment rather than displace local primary care physicians and hospitals. When needed, members will be referred to local facilities for appropriate and timely care, thereby reducing total cost of care and avoiding costly admission to hospital ERs.
Homeward’s payment for care will replace the fee-for-service model which defaults to in- clinic care settings and limits the ability to leverage new innovative technologies. The payment system and services now favor a value-based model.
The company will initially partner with regional Medicare Advantage plans, many of which are seeking innovative solutions on how to engage traditionally hard to reach members living in rural communities.