Better Health, a platform for patients with chronic conditions, secured $14 million in strategic funding, which it will use to expand to more patients, the company announced Thursday.
San Francisco-based Better Health supports patients with ostomy, chronic wounds, diabetes, chronic retention, incontinence and other conditions. Its platform offers peer coaching, education and home delivery of medical supplies. Better Health operates in 48 states and has a network of more than 150 health plans and health systems.
The $14 million in funding included investments from Healthworx, the University of Miami Health System and Mosaic General Partnership. It comes after the company’s $10 million Series A funding round announced in 2021. In total, Better Health has raised $27.5 million.
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Healthworx chose to invest in Better Health “to support their work toward bettering access and outcomes for patients dealing with chronic conditions, especially those who rely on durable medical equipment as a part of daily life,” said Christopher George, investment manager at Healthworx, in a statement.
With the financing, Better Health will improve its care solutions for payers and providers and expand into new product categories to support more patients. It will also “explore the integration of AI to further improve patient, payer, and provider experiences,” said Naama Stauber Breckler, CEO and co-founder of Better Health, in an email. In addition, the company aims to grow its network of partners, specifically with managed care organizations.
“The funding and expansion plans of Better Health align with the increasing need for home-based care solutions, the integration of technology in healthcare delivery, and the focus on reducing healthcare costs while improving patient outcomes,” Stauber Breckler said.
The Centers for Disease Control and Prevention reports that 129 million people in the U.S. have at least one major chronic disease, such as heart disease, cancer, diabetes, obesity or hypertension. According to Stauber Breckler, people with chronic conditions battle isolation, a lack of education on their conditions and inadequate access to medical supplies. These challenges can lead to poor health outcomes and costly hospital readmissions.
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“Additionally, the burden of navigating insurance and getting medical supplies adds to their stress and financial strain,” Stauber Breckler added. “The status quo for patients often requires that they spend hours on phone calls and back-and-forth emails each month just to get their essential products. Better Health’s model is designed to help solve these problems by offering continuous support, personalized coaching, and easy access to medical supplies, ensuring that patients receive whole-person care and feel less isolated and more supported in their health journey.”
Other companies that support patients with chronic conditions include Omada Health and HealthSnap.
Photo: claudenakagawa, Getty Images
