WellBe Senior Medical announced that Excellus BlueCross BlueShield (Excellus BCBS) and Intermountain Ventures have both made strategic investments in the company. This follows an investment made by CVS Health Ventures in January of this year.
“The significance of these investments from two impressive entities further validates WellBe’s commitment to be a payor-agnostic, in-home, full-risk medical group,” WellBe Senior Medical CEO Dr. Jeffrey Kang said in a press release.
Excellus BCBS’ investment follows a partnership announcement in March of this year. As part of that partnership, Rochester-based WellBe will provide care directly to the homes of 30,000 of Excellus BCBS’ most vulnerable Medicare Advantage members in upstate New York. Members who are eligible for this program have high utilization rates, behavioral health needs, risk for readmission and ED visits, a slew of prescriptions and sometimes a combination of the four.
“Our collaborations with WellBe support the health plan’s goals around improving health outcomes and addressing the affordability of health care,” Excellus BCBS President and CEO Jim Reed said in a statement.
WellBe Senior Medical and its affiliated medical groups offer home-based care to patients with complex health challenges, including over 100,000 Medicare Advantage patients in ten states.
Companies featured in this article:
Excellus BlueCross BlueShield, Intermountain Ventures, WellBe Senior Medical
