HealtheMed Receives $1.2 Million USD in Seed Round Funding
HealtheMed, a digital service healthcare solutions company announces their $1.2 million seed round.
Integrated technology solution [email protected] enables Medicaid waivered participants in Minnesota to remain independent longer
(Minneapolis, MN) — HealtheMed™, a Minnesota-based healthcare solutions company, today announced its latest round of funding, designed to help the company expand awareness for its digital care service offerings that enable the state’s most vulnerable citizens to remain independent longer. The seed round of $1.2M was led by Panoramic Ventures and supported by OCA Ventures as well as other private investors, including Bob Schulz, co-founder and Partner Emeritus of Health Enterprise Partners.
Paid for by the Minnesota Department of Human Services, the company’s integrated technology and clinical services solution, called [email protected], is free to Medicaid waivered participants. The system delivers a unique combination of high technology, including telemedicine via a television, remote patient monitoring, and medication dispensing devices, with high-touch nurse guidance and patient training in the home.
“As telemedicine and remote monitoring technologies have become more standard practice in healthcare, Medicaid waivered participants stand to benefit the most, as many suffer from physical, mental, and social challenges that prevent them from accessing healthcare via traditional means,” said Austin Poole, Principal at Panoramic Ventures. “We’re pleased to welcome the HealtheMed team into our growing portfolio of healthcare companies that are making a real difference while also helping to bend the cost curve in healthcare.”
According to Thomas Spencer, CEO of HealtheMed, “[email protected] is the first solution designed specifically to help our nation’s most vulnerable population – Medicaid waivered participants — receive the health education, care, and remote monitoring services they need to remain independent in their homes. As an added benefit, [email protected] is also giving case managers the tools they need to manage their clients more proactively, efficiently, and successfully, which is critical during these times of extreme workforce shortages. By working with the Minnesota Department of Health Services, we have been able to demonstrate the positive impact our solution is having on both health outcomes and the total cost of care.”
In a recent In90group research study of more than 50 case managers in Minnesota who have responsibility for Medicaid waivered clients, 85% indicated that their caseloads have increased over the past two years. [email protected] empowers these case managers to proactively know what is going on with each of their clients without requiring an at-home visit or tracking down care providers for information. Client social determinants data, along with the client’s overall health picture, is shared monthly with case managers.
HealtheMed™ is a public benefit corporation dedicated to enriching the lives of underserved populations in the state of Minnesota. [email protected], a first-of-its-kind, digital system of care enables Minnesota Medicaid waivered clients to gain better access to health care in their homes through its hybrid telemedicine platform. HealtheMed’s mission is to sustain Minnesota Medicaid waivered participants by enabling access to the essential health and care services they need, in the comfort of their own homes. To learn more about [email protected] from HealtheMed, visit www.healthemed.com or call 952.562.1235.
About Panoramic Ventures
Panoramic Ventures is a venture capital firm based in Atlanta that takes a “wider-view” approach to investing by targeting the Southeast and Midwest and placing a focus on diverse founders and university startups. Panoramic opens new doors for overlooked founders, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.