Medically Home Group, Inc., a Boston, MA-based health tech services platform, has bagged USD10 million in Series B funding round to support scaling efforts and to comprehend a common vision of enabling cost-effective, patient-centric care. The healthcare system has received this fresh capital from Cardinal Health and other investors. The funding round accentuates the rapid movement for innovative value-based models in the market.
Medically Home, which was founded two-year back in 2017, is the first scalable, virtual hospital, empowering caregivers to safely shift acute medical care o the patient’s homes from healthcare centers. Medically Home Group CEO Richard Rakowski said that “The Virtual Hospital is the next step in the evolution of our health care system. Many at-risk and at-capacity providers of care are looking for alternative care delivery sites to reduce unsustainable infrastructure costs.” He further added that “Our model has been successfully treating patients for two years and the time to scale has come. Tailwinds are growing for our Medically Home program because the market is demanding creative, high quality, cost-effective solutions. More and more providers are embracing strategies to enable virtual capacity that can substitute for its traditional inpatient settings.”
According to a report, healthcare providers are rapidly turning to Medically Home’s clinical-validated program to deliver an advanced patient experience for high and medium acuity patients with common medical diagnoses like CHF, COPD, pneumonia, among others; Selected elective post-surgical cases, currently requiring hospitalization, such as orthopedics, urology, and ENT; and for Oncology Patients.