HarmonyCares, a leading provider of in-home primary care, received a significant boost in its mission to expand access to quality healthcare, particularly for senior citizens. The company announced on July 8th that it secured $200 million in fresh capital to fuel its growth and reach more patients across the United States.
HarmonyCares, established in 1993, offers a unique model of integrated, physician-led value-based care delivered directly in patients’ homes. With a network of over 175 primary care providers operating across 15 states, the company goes beyond traditional medical care. Their interdisciplinary team includes nurse care managers, social workers, pharmacists, and 24/7 on-call support, ensuring patients receive comprehensive and personalized care. Additionally, HarmonyCares offers ancillary services such as home health, hospice, palliative care, radiology, and laboratory testing, all within the comfort of a patient’s home.
This patient-centric approach caters particularly to senior citizens on Medicare and those with complex medical needs. HarmonyCares emphasizes an evidence-based care model, allowing providers to dedicate more time to each patient and tailor treatment plans to their specific requirements.
The funding round was led by General Catalyst, McKesson Ventures, and a major national payer. Existing investors, including K2 HealthVentures, Rubicon Founders, Valtruis, HLM Capital, and Oak HC/FT, also participated. HarmonyCares plans to utilize the influx of capital for geographic expansion and the development of new technologies designed to improve clinical outcomes on a larger scale.
According to a recent survey, a significant portion of the population faces challenges accessing primary care. Worryingly, 33% of Medicare Advantage patients and 32% of traditional Medicare patients reported difficulty obtaining primary care services. This lack of access can lead to poorer overall health outcomes, increased preventable hospitalizations, and higher healthcare costs due to delayed treatment and unmanaged chronic conditions.
“There is an urgent need to expand access to longitudinal care, particularly as many patients across the U.S. are already struggling to get the care they need,” stated Matthew Chance, CEO of HarmonyCares, in a July 8th announcement. “This latest investment enables us to double-down on our commitment to expand access to value-based care for patients with complex clinical and social needs and who often have limited access to care, resources, or even family nearby.”
HarmonyCares partners with Medicare Advantage plans and Medicare accountable care organizations (ACOs) to deliver value-based care. This model incentivizes healthcare providers to focus on preventative care and positive patient outcomes, ultimately lowering costs for both patients and healthcare programs.
“Healthcare today lacks a platform at scale that comprehensively delivers services to our most complex patients in the convenience of their home,” commented Chris Bischoff, managing director at General Catalyst. “HarmonyCares is well on this journey and actively manages our most vulnerable patients in an economic model where incentives are aligned.”
This investment signifies a positive step towards expanding access to quality in-home healthcare, potentially improving health outcomes for a significant segment of the population.
