$60M Investment Helps Tuesday Health Launch Solution for Serious Illness
Tuesday Health, a value-based care startup targeting serious illness, has launched a solution that it says focuses on providing supportive care earlier in a patient's journey and getting the right services from the best providers at the right time in an individual's life.
A $60 million strategic investment from Valtruis, Blue Venture Fund, Mass General Brigham Ventures, and CareSource, Ohio’s largest Medicaid plan, is behind the launch.
Nashville-based Tuesday Health explains that whether in traditional Medicare, Medicare Advantage or dual coverage Medicare/Medicaid plans, seniors and their families face a confusing and uncoordinated set of choices in their final years.
“This leads to increased hospitalizations, higher healthcare costs, and reduced overall efficiency in the healthcare system,” the startup said in a press release. “The wonderful, but outdated Medicare Hospice Benefit structure further exacerbates these challenges, creating obstacles and adverse incentives for hospice providers striving to deliver optimal patient care and for insurers trying to provide seniors seamless coverage.”
Tuesday Health said it facilitates a seamless transition from Medicare Advantage, Medicaid, or commercial insurance into high-quality hospice care when appropriate, offering a coordinated and integrated experience for patients and caregivers. Through its mytuesday app, patients and caregivers can self-report symptoms, helping create personalized care plans delivered through a network of supportive care providers.
"We built Tuesday Health to identify and engage patients and caregivers earlier in the course of disease so that we can take proactive, clinically proven measures to address their evolving needs over time, including appropriate transitions to high-quality hospice care when the time is right," said Mihir Kamdar, M.D., head of care delivery of Tuesday Health and former section head of palliative care at Mass General Brigham, in a statement. "Our experienced team has tremendous expertise when it comes to meaningful interventions for the seriously ill, and a deep-rooted belief in the importance of modernizing supportive care for patients and their caregivers."
The alliance between Tuesday Health, Valtruis, Blue Venture Fund, Mass General Brigham Ventures, and CareSource is fueled by a shared vision to improve experiences for patients and caregivers, said CEO Jim Wieland. "We are starting now in Ohio, and we will expand nationwide rapidly. Together, these capable partners aim to address systemic healthcare challenges and provide individualized, appropriately timed supportive care to those in need.”
Wieland previously worked at Magellan Health and as president of specialty health at Evolent Health after it acquired Magellan.
"We're dedicated to connecting individuals and their caregivers with timely, valuable resources while reducing health care's administrative and systematic obstacles," said Joshua Boynton, senior vice president, complex health solutions of CareSource, in a statement. "Working with Tuesday Health helps to ensure that those with serious illness diagnoses seamlessly receive member-centric, supportive care, so their caregivers can focus on what matters - the person, not paperwork.”
