Tomorrow Health, a home-based care startup, is closing down its medical supply business to focus on enabling home-based care through technology and other solutions. It will work with other home medical equipment (HME) suppliers and provide them with scalable technology. The New York-based company has raised $92.5 million in funding since it launched in 2018 and works with a large network of providers, as well as 125 health plans and health systems. Closing its own first-party HME supply business will remove barriers for its home-based care provider network. The company also recently announced a new product tailored to help providers and health plans operating in Medicaid and home- and community-based services.
Based on Home Health Care News, Tomorrow Health, a home-based care startup, is shifting its focus to enabling home-based care through technology and other solutions that benefit its provider and health plan partners. The New York-based startup has raised $92.5 million in funding since its launch in 2018 and aims to improve how home-based care is ordered, delivered, and paid for.
Tomorrow Health initially made home medical supply a key part of its business, but its leaders believe they have found a better way to influence care moving toward the home. In part, that is through “the transformation of the end-to-end process of how HME is ordered, processed and delivered to patients at scale,” Based on the company.
The startup will work with other home medical equipment (HME) supplier partners, including April, AdaptHealth, Home Care Delivered, Lincare, and Rotech Healthcare, and provide them with “scalable technology.” Tomorrow Health CEO and co-founder Vijay Kedar said in a statement, “HME suppliers are a critical lever to shift care to the home, which is often overlooked by payers. Tomorrow Health’s technology and unique position with payers enables change end to end, supporting everything from prescription to reimbursement while arming suppliers with valuable insights that can drive business growth and ensure positive experiences for every single stakeholder.”
Tomorrow Health believes that closing its own first-party HME supply business will “unlock new opportunities” and “remove barriers” for its home-based care provider network. The startup works with a large network of providers, as well as 125 health plans and health systems. It is backed by Andreessen Horowitz, BOND, and Obvious Ventures, among others.
The announcement of Tomorrow Health’s business model rework comes on the heels of the company revealing a new product tailored to help providers and health plans operating in Medicaid and home- and community-based services. Kedar told Home Health Care News last month, “It’s a recognition of the unique complexities that are faced by both Medicaid MCOs as well as care coordinators – and ultimately patients and their caregivers – in navigating home-based care. This is something that we have worked to develop over the last year in partnership with a range of stakeholders to ultimately be able to deploy and deliver a product that is really…”
Through its technology and partnerships, Tomorrow Health is working to improve home-based care and make it more accessible to patients who need it. By focusing on enabling home-based care, the startup is taking a step toward transforming the healthcare industry and improving the quality of care for patients.
