DispatchHealth’s in-home care model raises $136mn investment
Healthcare startup DispatchHealth has announced raising almost USD$136mn ($135.8mn) in its latest Series C funding round.
The company, which was founded in 2013 with the goal of creating an integrated and convenient platform for delivering high-quality, lower-cost care to patients in their homes, considers the utility of its service to be more relevant now than ever before.
Able to provide a vital lifeline for those with complex or extensive healthcare needs, DispatchHealth saves patients from having to travel to outside locations for treatment, something which, especially during the COVID-19 pandemic, could lead to further health complications.
Its service is currently available in over 19 cities across the US, with capacity expected to increase imminently. Users can rest assured that they will get the treatment they need as DispatchHealth covers them 24/7 for 365 days of the year.
Delivering care to the home
Accessible via smartphone, tablet or computer, DispatchHealth is a well-equipped and fast service: within two hours of being requested, a trained medical team will arrive at the patient’s door.
“Approximately a third of the cost of the U.S. health care system is devoted to facility-based care delivery, such as emergency rooms, hospitals, and post-acute facilities,” said Dr. Mark Prather, CEO and Co-Founder of DispatchHealth.
“For seven years, our care model and technology platform have demonstrated lower costs and improved outcomes by delivering care safely in the home. Adoption has consistently grown, and our Net Promoter Score of 95 across our first 160,000 patient visits indicates high satisfaction.
“We appreciate the support of investors, and look forward to working with them to continue executing on our transformational vision,” he added.
Extending healthcare beyond its parameters
Facilitating this service requires large-scale collaboration with other service providers on DispatchHealth’s part, including healthcare institutions, pharmacies and insurance companies within the US.
It is the company’s ability to pool these separate entities together which enables such an efficient and successful service for patients. Larry C. Renfro, Managing Partner at Optum Ventures, commented that DispatchHealth was ushering in a new approach to healthcare.
“DispatchHealth is extending health care beyond traditional facilities to the most accessible environment of all: the patient’s home. We are excited to continue partnering with DispatchHealth to drive value and outcomes for the industry.”
In agreement with this assessment is Susan Diamond, Segment President of Home Business at Humana, who stated that the service recognised a trend of healthcare moving away from dedicated facilities and remaining in the home instead.
“Home is increasingly the place where people prefer to receive their care. This is especially true for older adults with multiple chronic conditions,” she said.
“We believe DispatchHealth’s clinical delivery model can improve the overall patient experience and health outcomes by allowing people to remain comfortable at home while also empowering the medical team to more easily identify patient needs than they can in a clinical setting."
Image courtesy of DispatchHealth
Marketing matters: from IBM to Kyndryl
Prior to joining Kyndryl as Chief Marketing Officer, Maria had a 25-year career at IBM, most recently as the tech giant’s CMO where she oversaw all marketing professionals and activities across North America, Canada and Latin America. She has held senior global marketing positions in a variety of disciplines and business units across IBM, most notably strategic initiatives in Smarter Cities and Watson Customer Engagement, as well as leading teams in services, business analytics, and mobile and industry solutions. She is known for her work with teams to leverage data, analytics and cloud technologies to build deeper engagements with customers and partners.
With a passion for marketing, business and people, and a recognized expert in data-driven marketing and brand engagement, Maria talks to Business Chief about her new role, her leadership style and what success means to her.
You've recently moved from IBM to Kyndryl, joining as CMO. Tell us about this exciting new role?
I’m Chief Marketing Officer for Kyndryl, the independent company that will be created following the separation from IBM of its Managed Infrastructure Services business, expected to occur by the end of 2021. My role is to plan, develop, and execute Kyndryl's marketing and advertising initiatives. This includes building a company culture and brand identity on which we base our marketing and advertising strategy.
We have an amazing opportunity ahead at Kyndryl to create a company brand that will stand apart in the market by leading with our people first. Once we are an independent company, each Kyndryl employee will advance the vital systems that power human progress. Our people are devoted, restless, empathetic, and anticipatory – key qualities needed as we build on existing customer relationships and cultivate new ones. Our people are at the heart of this business and I am deeply hopeful and excited for our future.
What experiences have helped prepare you for this new opportunity?
I’ve had a very rich and diverse career history at IBM that has lasted 25+ years. I started out in sales but landed explored opportunities at IBM in different roles, business units, geographies, and functions. Marketing and business are my passions and I landed on Marketing because it allowed me to utilize both my left and right brain, bringing together art and science. In college, I was no tonly a business major, but an art major. I love marketing because I can leverage my extensive knowledge of business, while also being able to think openly and creatively.
The opportunities I was given during my time at IBM and my natural curiosity have led me to the path I’m on now and there’s no better next career step than a once-in-a-lifetime-opportunity to help launch a company. The core of my role at Kyndryl is to create a culture centered on our people and growing up in my career at IBM has allowed me to see first-hand how to prioritize people and ensure they are at the heart of progress in everything Kyndryl will do.
How would you describe your leadership style?
I believe that people aren't your greatest assets, they are your only assets. My platform and background for leadership has always been grounded in authenticity to who I am and centered on diversity and inclusion. I immigrated to the US from Chile when I was 10 years old and so I know the power and beauty that comes from leaning into what makes you different from other people, and that's what I want every person in my marketing organization to feel – the value in bringing their most authentic self to work every day. The way our employees feel when they show up for themselves authentically is how they will also show up for our customers, and strong relationships drive growth.
I think this is especially true in light of a world forever changed by the pandemic. Living through such an unprecedented time has reinforced that we are all humans. We can't lead or care for one another without empathy and I think leaders everywhere have been reminded of this.
What’s the best leadership advice you’ve received?
When I was growing up as an immigrant in North Carolina, I often wanted to be just like everyone else. But my mother always told me: Be unique, be memorable – you have an authentic view and experience of the world that no one else will ever have, so don't try to be anyone else but you.
What does success look like to you?
I think the concept of success is multi-faceted. From a career perspective, being in a job where you're respected and appreciated, and where you can see how your contributions are providing value by motivating your teams to be better – that's success! From a personal perspective, there is no greater accomplishment than investing in the next generation. I love mentoring younger professionals – they are the future. I want my legacy as a leader to include providing value in work culture, but also in leaving a personal impact on the lives of professionals who will carry the workforce forward. Finding a position in life with a job and company that offers me a chance at all of that is what success looks like to me.
What advice would you give to your younger self just starting out in the industry?
I've always been a naturally curious person and it's easy for me to over-commit to projects that pique my interest. I've learned over years of practice how to manage that, so to my younger self I’d say… prioritize the things that are most important, and then become amazing at those things.