Bethesda-based Aledade secured $30 million in series B funding, led by ARCH Ventures Partners and backed by Venrock. Aledade is led by Farzad Motashari, former National Coordinator for Health Information technology at the US Department of Health and Human Services. Motashari was an architect of health care reform.
“This investment means that we can meet the demand from physicians for our unique ACO model, and to expand the services we offer our partner practices,” said Motashari in a blog post. “This money will help us build additional software and analytic tools for our practices; expanded service offerings; and add more on-the-ground support for our doctors and their staffs. It means being able to expand to private payers. Most of all, it means being able to invest in long-term prevention and chronic disease management, and patient engagement efforts that may take years to bear fruit.”
Aledade enables independent primary care practices with the technology, business services and capital to start and be a part of an ACO. The company has partnered with 100 physician practices in 9 states in practices that serve 500,000 patients and 50,000 Medicare beneficiaries. Through its two ACOs, Aledade reports that 100 percent of Aledade practices offer same or next-day appointments, 95 percent provide 24/7 access to an on-call physician, and its practices have increased preventive care visits by more than 400 percent in less than one year.