WellBe Senior Medical and venture catalyst firm Leverage Health have formed a strategic partnership, with Leverage as a major investor and growth catalyst.
The companies said Leverage Health will advance WellBe’s mission to provide specialty geriatric care to frail, polychronic seniors in Medicare Advantage health plans. WellBe’s geriatrician-led care teams visit these complex members wherever they are, whether in the community or a nursing home.
“Building a deep relationship with our patients and physically being in the home allows our team to address both clinical and social determinants of health directly,” said Jeff Kang, M.D., CEO and founder of WellBe.”The result is immediate, dramatic improvement to the person’s overall health and wellbeing as we follow the patient across every care setting.”
WellBe providers’ interventions lower unnecessary emergency department admittance and redundant testing.
“By providing care wherever the patient requires and following the patient across care settings, WellBe ensures care coordination challenges are overcome,” Kang said.
WellBe takes full global financial risk for the kinds of complex patients who represent the roughy 5% of the population that are persistently the most unprofitable. The firm guarantees improvement in health plan earnings and delivery of at least four stars on their quality ratings in addition to financial guarantees.
“By taking full risk as a delegated provider group and providing care the right way, with the right systems in place, they’ve created a much needed market solution where every party wins: The health plans are guaranteed a reduction in cost, the patients are healthier, care is humanized and the providers can make a real difference on these complex cases,” said Richard Lungen, managing member and Leverage Health’s founder.
