A $300M Devotion to Seniors
Devoted Health, a next-generation Medicare Advantage plan dedicated to delivering the highest-quality, hassle-free health care to Medicare beneficiaries, announced that it has officially launched, beginning to enroll members across eight counties in south and central Florida. The company also announced that it has raised $300m in Series B funding led by Andreessen Horowitz.
“More than 10,000 Americans are turning 65 every day, and they are entering a health care system that is not just confusing and complicated, but also often cold and impersonal. We believe that the Devoted Health team has the experience and expertise to drive truly meaningful and scalable change in how health care is financed and delivered – from payment models to the patient experience and the technology needed to make it happen. They are creating the next great health care company, and we are very excited to be joining the team.” – A partner at Andreessen Horowitz who is joining the Board of Directors of Devoted, Vijay Pande.
As a Medicare Advantage plan, Devoted Health is responsible for the full cost of care of its members, and thus has a true incentive to keep its members healthy. With this in mind and a deep belief that every Devoted member should be treated as one would treat their own family, the company is partnering with health care providers in ways that empower them to deliver the highest-quality care possible. In addition, Devoted Health will provide dedicated guides to help members navigate the health care system and will deliver tech-enabled Devoted care services to the home, including clinician house-calls for patients who are sickest and most at risk. As a “payvidor,” Devoted wants to make sure that its members get the right care in the right place at the right time, resulting in both better health outcomes and lower costs.
Bottom Line: Clover Health comes to mind.
