Companies that deliver care outside of traditional settings are continuing to attract eye-popping amounts of fresh capital, with ConcertoCare recently raising a $105M Series B round to scale its operations across the US.
Concerto is a value-based provider of at-home comprehensive care for seniors “with unmet health and social needs.” The company’s model incorporates medical, behavioral, and social determinants of health to help improve outcomes from multiple angles
- To help serve medically complex populations, Concerto enlists interdisciplinary care teams of physicians, pharmacists, behavioralists, and social workers to meet with patients either in-person or virtually.
- These teams are equipped with a proprietary Patient3D decision support platform that assists with identifying the next best action for each patient, as well as a range of connected devices that enable the remote management of chronic conditions.
- The Series B pushed Concerto’s funding total to $149.5M and will help it launch its Program of All-inclusive Care for the Elderly (PACE) later this year while expanding into new US markets outside of the 8 states it already serves.
- Alongside the funding news, Concerto announced the acquisition of Crown Health, a home-based primary care provider serving the Pacific Northwest. The move aligns with Concerto’s 2021 merger with primary care provider, Perfect Health.
The Takeaway
ConcertoCare’s differentiator is its full-stack approach to improving outcomes for the country’s most medically complex seniors. According to Concerto, less than 5% of patients accounted for half of US healthcare expenditures in 2018, and these are the same patients the company is seeking to help. Concerto’s value-based approach could be a piece of the puzzle for successfully managing this vulnerable population, especially with 88% of seniors preferring to receive care in their home.
