Greater Good Health Raises $20M For Senior Care
Greater Good Health has raised $20 million in a Series A financing round, with Flare Capital Partners leading the funding effort. This achievement is significant, as it comes amid a critical shortage of primary care physicians in the US, exacerbated by the COVID-19 pandemic, with projections of a shortage ranging from 17,800 to 48,000 by 2034.
The organization’s unique Nurse Practitioner-led model focuses on expanding value-based care for seniors. Moreover, it addresses the urgent need for accessible healthcare, particularly in rural communities. This funding will enable Greater Good Health to develop primary care clinics and establish a value-based partnership.
The Centers for Medicare & Medicaid Services (CMS) aim to engage 100% of Medicare beneficiaries in value-based care by 2030. The goal is to prompt a shift in care delivery strategies and cost responsibility to healthcare providers. This underscores Greater Good Health’s mission to provide comprehensive care for seniors.
Greater Good Health, backed by recent funding, is set to expand its innovative clinical solutions and establish primary care clinics. Their initial move includes a partnership with a national Medicare Advantage health plan to create senior-focused clinics in Montana. These clinics prioritize outcomes-based care, quick access to services, holistic treatment, community engagement, and support for navigating Medicare plans. Greater Good Health Founder and CEO Sylvia Hastanan said in a statement:
“Aligning with industry trends and policy, we are doubling down on Nurse Practitioners and value-based care to address the needs in underserved, often rural, markets. Nurse Practitioners are the fastest growing profession in the United States and are inherently well-positioned to succeed in value-based care. Today, 80% of seniors have at least one chronic illness and 50% have two or more. With the senior population growing older and sicker, access to value-based, comprehensive primary care is imperative, and we are here to make that a reality.”
