MedArrive, an Irving-based mobile-integrated care management platform company, has received $8 million in new funding led by Cobalt Ventures, a wholly owned subsidiary of Blue Cross and Blue Shield of Kansas City (Blue KC).
The investment follows MedArrive’s $25 million series A round in November 2021 and brings its total funding to $40.5 million to date, the company said.
“Everyone in America has a right to inclusive, high-quality care, yet too many are left out and have no one on their side who can connect them to the system,” MedArrive Co-Founder and CEO Dan Trigub said in a statement. “That’s what the MedArrive platform and our field providers offer—a trusted and compassionate bridge into the homes of the people who need care the most and at the right time.”
“The work we’re doing with dedicated healthcare organizations, who are committed to health equity, is what drives our team every day,” Trigub added.
MedArrive said it supports both adult and pediatric populations by providing a white-labeled care management solution that offers care in the home—often for the hardest-to-reach, disengaged, and most-vulnerable populations.
Serving patients at home with paramedics, EMTs, and other healthcare professionals
The platform connects providers and payers with MedArrive’s field provider network of highly trained and skilled paramedics, EMTs, and other healthcare professionals, the company said.
Field providers visit the homes of patients or members on behalf of their provider or health plan, providing a mix of in-home healthcare services, diagnostics, health assessments, post-acute care, and other preventive health measures while addressing social care needs such as transportation, mobility, or nutrition assistance.
When higher-acuity care is needed, the company says its field providers will connect people with physician-led telehealth services.
The MedArrive platform includes integrations with a growing ecosystem of specialized partners that allow field providers to bring more care services into the home, such as virtual behavioral health, retinal screening, and maternity care.
‘A unique platform and agile workforce’
“MedArrive has quickly become a leader in delivering healthcare at home solutions with a unique platform and agile workforce that helps lower cost of care for health plans while building trust, improving access to care, and driving better outcomes for their members,” David Eichler, managing partner of Cobalt Ventures, said in a statement.
MedArrive has built a substantial list of customers—especially with managed Medicaid health plans—demonstrating a significant ability to improve the health of very at-risk populations while also lowering costs.
Reducing ER visits and hospitalizations
In a collaboration with Molina Healthcare of Texas, MedArrive helped Molina’s members navigate the healthcare system, connected them with resources that improved their health and quality of life, and facilitated more care in an appropriate setting, MedArrive said.
In the program’s first phase, MedArrive said it drove 74% member engagement and a 20% reduction in emergency room usage; created a 5% improvement in member retention; surfaced undocumented social determinants of health needs in 32% of visits; reduced hospitalizations by 50%; and garnered a 90+ NPS.
MedArrive said it also led successful home-health programs with Bright Health, and several Centene plans including Superior HealthPlan (Texas), and HealthNet (California), among others.
Its capital-efficient model has become attractive for payers, providers and investors alike who are all looking to leverage a growing home-health market, the company said.
Focusing on at-risk populations
McKinsey has predicted that roughly $265 billion worth of healthcare services could shift into the home by 2025, MedArrive noted. At the same time, payers and risk-based providers are looking for proven ways to reduce costs associated with at-risk populations, such as individuals on Medicaid.
Research has shown that nearly 50% of Medicaid patients will visit emergency rooms at least once a year, which is about four times more than commercial patients.
MedArrive has a national network of thousands of skilled EMS providers in its national network. Services span dozens of clinical use cases, including chronic condition management, transitional care, readmission prevention, urgent care, vaccinations, palliative care, and more.
Cobalt Ventures is the strategic venture capital arm of Blue Cross and Blue Shield of Kansas City, the largest not-for-profit health insurer in Missouri and the only not-for-profit commercial health insurer in Kansas City. It invests in high-growth companies that align with Blue KC’s mission and can scale nationally across the payer industry.
MedArrive recently launched a partnership with Ouma Health to offer in-home maternity care to women on Medicaid.
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