Yahoo Finance Shares Coverage on Recent Series A-1 Funding Round
May 5, 2020 – The funding represents another significant milestone for Monogram as the company continues to grow, increase health plan partnerships and manage the care of vulnerable patients with kidney disease through in-home engagement and increased interaction during this time of heightened isolation brought forth by the COVID-19 pandemic.
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The new round brings the total funds raised to $12 million in the past 15 months and reflects a growing national focus on kidney disease and at-home healthcare services.
Monogram Health, a leading kidney disease benefit management company, announced today that it has secured $7 million in funding through the closing of a Series A-1 financing round. The round was co-led by Frist Cressey Ventures and Norwest Venture Partners. The funding represents another significant milestone for Monogram as the company continues to grow, increase health plan partnerships and manage the care of vulnerable patients with kidney disease through in-home engagement and increased interaction during this time of heightened isolation brought forth by the COVID-19 pandemic.
Monogram currently operates its kidney disease benefit management programs for thousands of patients across the U.S., including Humana Medicare Advantage and Commercial plan members in Louisiana and Mississippi. The company partners with health plans to collaborate with nephrologists and ensure high-quality patient care is delivered cost effectively. Monogram’s benefit management team of nurses, social workers, nephrologists, and geriatricians develop strong and lasting relationships with patients through in-person visits to their homes, inclusive of family members and community support, as a means of improving overall health outcomes. Through these regular visits, Monogram’s specialized care teams monitor and manage patients’ kidney care delivery, such as appropriate medication compliance, as well as transitions to and adherence with renal replacement, palliative care, and other evidence-based treatment modalities.
"We pride ourselves on working with innovative companies that are truly transforming the delivery of healthcare, and we share in Monogram’s vision of making kidney care more accessible to more people, lowering the cost of care, and at the same time improving their quality of life and health outcomes," said Senator Bill Frist, M.D., Co-Founder & Partner of Frist Cressey Ventures and Monogram Health’s board chairman. "In light of the COVID-19 pandemic, the need for high-quality, in-home kidney health services are only growing, and Monogram is at the forefront of this shift to home-based benefit management and delivery."
Home visits and frequent interaction with Monogram team members have become even more vital in light of COVID-19. These visits have been instrumental in safeguarding high-risk patients with serious underlying health conditions against unnecessary hospitalizations, missed physician visits and the emotional impacts of being isolated in a time of social distancing. Monogram supports the delivery of care in the home and outside of clinics and healthcare facilities, minimizing the potential spread of COVID-19.
"The COVID-19 pandemic has put a spotlight on the home as a safe healthcare setting for dialysis and other kidney-related care," said Casper de Clercq, General Partner, Norwest Venture Partners. "Monogram’s solution empowers the vulnerable patients with renal disease to be seen in the comfort and safety of their own homes and to choose treatment modalities that are home-based, rather than clinic-based. This innovative approach to managing kidney care delivery will help improve health outcomes for a population that drastically needs and deserves better care."
The funding also comes as the Centers for Medicare and Medicaid Services is increasing its attention and focus on the cost and quality of kidney care for its Medicare beneficiaries. Through the 21st Century Cures Act, Medicare beneficiaries with end stage renal disease will have the option during the Annual Election Period (AEP) later this year to enroll in 2021 Medicare Advantage plans administered by private health insurers to provide coverage for their care needs.
About Monogram Health
Monogram Health is a leading kidney-disease focused benefit management and care delivery company. It provides an innovative renal care model and data-driven array of clinical managed services, including complex case and disease management, utilization management and medication therapy management to transform the delivery of care received by patients living with chronic kidney and end-stage renal disease. Partnering with health plans, physician practices, dialysis providers and clinically integrated health systems, Monogram Health provides patients with exceptional at-home individualized clinical managed services and Nephrology care delivery. Through the use of next generation artificial intelligence, evidence-based criteria and personalized care planning, Monogram Health’s model seeks to delay the progression of the disease, promote a seamless transition to dialysis, palliative care and/or pre-emptive kidney transplant and optimize health outcomes for patients with end-stage renal disease. Based in Nashville, Tenn. and privately held by Frist Cressey Ventures and Norwest Venture Partners, Monogram Health currently operates its renal disease benefit management programs and care delivery across 20 states in the U.S. and has built a national network of nephrologists that includes hundreds of leading kidney care specialists. To learn more about Monogram Health, please visit here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200505005231/en/
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