On-Demand Health Care Provider Raises $30.8 Million
DispatchHealth, a health care company that offers on-demand, on-site services delivered at home, has raised $30.8 million in growth financing, the company announced.
Founded in 2013, Denver-based DispatchHealth has a team of caregivers that brings treatment to patients’ homes, senior communities or office settings. Patients can explain their symptoms and request care through the company’s mobile app, website or a phone call, and are connected to a skilled emergency-trained provider supported by DispatchHealth’s technology infrastructure and connected to services ranging from minor illness to complex clinical cases.
The funding was co-led by Alta Partners and Questa Capital, with the participation of strategic partner US Acute Care Solutions and existing investors. DispatchHealth is planning to use the funding to scale its growing technology-enabled health care delivery platform, according to a press release.
“DispatchHealth was designed to promote access to care, improve patient experience and outcomes, and decrease the overall cost of care,” Mark Prather, MD, MBA, CEO and co-founder of DispatchHealth, said in a statement. “There is a growing body of literature that suggests in-home care delivery produces superior outcomes, and this is consistent with our experience. To date, we have produced over $20 million in medical cost savings and our results are amplified by our ability to create optimized care plans while viewing, first-hand, the patient’s surroundings and social determinants of health.”
DispatchHealth says its care has an average price savings of 80% versus the cost of an emergency department visit. The total cost of care for a DispatchHealth visit is between $150 and $300, according to its website. The service is currently offered in Denver, Boulder, Colorado Springs and Phoenix, with additional service areas coming in the fourth quarter of 2017.
“We are excited to partner with Mark Prather and the DispatchHealth team to help solve the ‘last-mile’ access problem in health care delivery,” Ryan Drant, founder and managing director at Questa Capital, said in a statement.
Questa Capital focuses on investments in growth-stage health care companies. Alta Partners, a San Francisco-based venture capital firm, focuses on health care investing and has raised more than $2 billion in capital through nine venture funds.
Written by Amy Baxter