See the 12-slide presentation home-care startup Tomorrow Health used to raise $60 million from VCs like Andreessen Horowitz
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- Tomorrow Health wants to help people get better home healthcare with its care-coordination software.
- The startup partners with health insurers, home-health providers, and medical-equipment suppliers.
- Check out the pitch deck Tomorrow Health used to land $60 million in Series B funding.
Tomorrow Health stepped onto the home-health scene in 2020, launching three years after its founding to help people get durable medical equipment, from walkers to ventilators, for home-based care.
Now the startup is expanding its approach, working with health plans, home-based-care providers, and suppliers of medical equipment to coordinate a home-healthcare experience.
The New York company provides tools for ordering equipment, picking the right home-health provider for a person’s needs, and sorting through reimbursement requirements for billing insurers.
At the end of June, Tomorrow Health said it had raised a $60 million Series B funding round led by Bond, with participation from Andreessen Horowitz, Obvious Ventures, BoxGroup, and Sound Ventures.
Andreessen Horowitz also led the company’s $25 million Series A round. The startup has raised $92.5 million since its founding in 2017.
Tomorrow Health’s CEO, Vijay Kedar, said he saw the disjointed home-healthcare system firsthand while helping to manage his mother’s care. After stage-three cancer led to four months in the intensive-care unit, his mother required a year of intensive at-home care — but it was so difficult to get the supplies she needed for that care, Kedar said, and she was readmitted to the hospital twice in the first month.
“We were working with nearly a dozen home-based-care providers, guided to us by our insurance company, and we saw how challenging and unreliable the home-based-care system could be,” he said.
Tomorrow Health says that by using technology to connect insurers, providers, and medical-equipment suppliers, it can help people quickly and easily get better care.
Tomorrow Health provided Insider the presentation it used to raise $60 million in June. A company representative said the slides were edited to remove sensitive information about Tomorrow Health’s financials and proprietary technology.
Here’s the 12-slide presentation Tomorrow Health used to land $60 million in Series B funding
This article has been updated to remove information about how much Geisinger Health Plan spends on durable medical equipment.
Tomorrow Health connects providers, insurers, and medical-equipment suppliers to support people who need healthcare at home.
The startup provides software to coordinate that care, helping home-health providers place orders for medical equipment like canes and walkers while complying with reimbursement requirements.
Tomorrow Health also has care coordination platforms designed for health plans and medical equipment suppliers in addition to providers.
Kedar founded Tomorrow Health after three years at the health-insurance upstart Oscar Health. He said that at Oscar he saw the challenges that health insurers face in coordinating at-home care.
Kedar said Tomorrow Health works with health plans to manage home healthcare for members, connecting them with the “highest-value” home-health provider for their needs.
Kedar said Tomorrow Health’s multiyear contracts with health plans hold the startup accountable for metrics like how quickly patients get their medical equipment and how long those patients stay out of the hospital.
Tomorrow Health’s tech also helps suppliers manage medical-equipment orders, aiming to get that equipment to people quickly while lowering operating costs.
Kedar said that when his mother was recovering from stage-three cancer with a year of intensive home care, it took six weeks to get her the supplies she needed, including portable oxygen and mobility equipment. She was readmitted to the hospital twice in her first month back home.
Kedar’s mother is now in remission.