Dive Brief:
- San Francisco-based health insurance startup Clover Health has raised $100 million in an equity round led by First Round Capital — the largest-ever investment from the venture capital firm.
- Clover is looking to use data to identify gaps in care for seniors in Medicare Advantage plans and to intervene with the help of its nurse practitioners and social workers.
- Its goal is go after the top Medicare health plan providers that don’t effectively use data to drive improved patient outcomes, TechCrunch reports.
Dive Insight:
Clover intends to stand apart through its technology, which enables it to mesh varying forms of patient data and analyze whether a patient is at risk, as well as determine how to intervene.
It aims to lower hospital admission and readmission rates among seniors and has already had success lowering admissions by almost 50%, the company reports.
“You imagine a Medicare patient goes to a primary doctor’s office, goes to a cardiologist, goes to a hospital, there is no quarterback for that data,” Clover Health CEO Vivek Garipalli told Tech Crunch. “No one has the time or the data to guide that patient and coordinate all those interactions and make sure each provider gets the right info at the right time.”
He says payers in a better position to do that than providers, and that the bigger Medicare Advantage companies aren’t using Clover Health’s methods to collect data.
Date: September 21, 2015