Remote Care

DispatchHealth Lands $330M for In-Home Care

DispatchHealth

It looks like 2022 isn’t finished with the megarounds quite yet, with DispatchHealth hauling in $330M in a mix of debt and equity funding to build out its suite of in-home services.

DispatchHealth launched in 2013 to bring urgent care into patient homes, but has since expanded its offerings to cover a wide range of high-acuity needs.

  • The company partners with health systems, payors, and employers to provide in-home resources that help keep patients out of the hospital, such as mobile medical teams and Advanced Care hospital-at-home solutions.
  • These services are integrated within its Last Mile Care Technology Platform, which tracks care patterns to optimize utilization, forecast equipment requirements, and triage patients to outside resources when necessary.

The latest round lifts DispatchHealth’s total funding to over $730M as it shifts its focus to building out its high-acuity ecosystem in the 50+ markets it already serves – reportedly covering 75% of Medicare Advantage members in the US.

  • It’s easy to imagine that DispatchHealth is probably high on the list of acquisition targets for companies like UnitedHealth Group or CVS that are actively looking to round out their care delivery strategies with in-home assets.
  • That makes it interesting to see that UHG subsidiary Optum Ventures led the recent funding, with Humana and Blue Shield of California also participating.

The Takeaway

Against a backdrop of economic uncertainty and a slowdown in private funding, DispatchHealth’s nine-figure raise shows that investors still have an appetite for startups with a solid track record of improving outcomes. We’ve been covering plenty of stories about hospital overcrowding and struggling margins, and DispatchHealth is making it clear that it believes the home is the right setting to tackle both issues at the same time.

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-- The Digital Health Wire team