Bayada Home Health Care and CareBridge announced Tuesday that the two companies are teaming up to better manage health care costs.
A nonprofit, the Moorestown, New Jersey-based Bayada provides a range of in-home care services to older adults, children and individuals living with disabilities across 22 states and more than 345 locations. The large home-based care provider also operates in seven other nations.
Meanwhile, CareBridge is an end-to-end technology platform designed to help states and health plans manage patients receiving home- and community-based services.
“As more Americans age, health plans face the challenge of managing health care costs for a growing population of high-risk members, while helping them achieve a better quality of life and outcomes,” Bayada Chief Strategy Officer Heather Helle said in a statement. “Pairing Bayada’s deep expertise and insights around community health needs and patterns, with CareBridge’s technology-enabled intervention approaches, allows health plans to better predict the risks facing the most vulnerable in society and keep them safe at home, where they thrive best.”
Through the partnership, Bayada will gain access to CareBridge’s portfolio of data analytics tools and other technology designed to manage complex patient populations.
On its end, CareBridge will be able to glean insights from Bayada’s on-the-ground operations. The provider has over 26,000 nurses, home health aides, therapists, medical social workers and other home health professionals in its network.
“We couldn’t think of a better first partner to introduce our technology into home health care than Bayada,” CareBridge CEO Mike Tudeen said in a statement. “As the population continues to age and the demand for home health care increases, it’s important to have collaboration and integrated solutions to ensure care is delivered with quality, efficiency and cost-effectiveness.”
Adults older than 65 account for up to 20% of all emergency department visits and 36% of all hospitalizations, despite representing just 13% of the U.S. population, according to The Journal of Gerontology.
Those statistics suggest there’s a vast need for improved care coordination and predictive modeling in home-based care.
Nashville, Tennessee-based CareBridge formally launched in early January after announcing an initial $40 million funding round. The startup’s advisers include former U.S. Senate Majority Leader Bill Frist and other well-known in-home care operators, including Bayada’s David Baiada.
CareBridge was formed following the strategic acquisition of HealthStar and Sinq Technologies.
Its investors include Oak HC/FT and GV, the venture capital arm of Google’s parent company.
Prior to serving as CareBridge CEO, Tudeen was CEO of PopHealthcare, a risk-adjustment and complex care company that sold to Guidewell in 2017. He also previously served as CEO of INSPIRIS, an in-home complex care company that sold to Optum in 2011.