As the healthcare industry moves to value-based care, physician practices and health networks need to shift the things they bill for. Now it's about maxing out patient "care" rather than the number of procedures physicians can perform.
In this move to a more high-touch, rapid communication world where doctors need to take (and document) every step to ensure that their patients stay on their medication, come in for their routine check-ups and receive follow ups on their initial visits, a service like Stellar Health that provides a checklist for practitioners looks really attractive to investors.
The two-year-old company did not say in a statement when the round closed, but it has been expanding significantly without the infusion of additional capital. It already is selling services in networks across 11 states. The new money will take the company's operations to more states around the country and double the size of its team, according to a statement. By the end of 2020, Stellar Health expects to have customers managing care for at least 100,000 patients through its platform, according to a statement.
“Stellar Health has the potential to transform healthcare by increasing the number of providers who successfully adopt value-based care models,” said Sri Chandrasekar, partner at Point72 Ventures. “They have developed a sophisticated and intuitive platform to drive VBC in the U.S. and we are excited to help them build on that momentum.”