Higher Well being Group, a value-based care supplier community with over 1,200 owned and affiliated suppliers, has obtained $175 million in financing. The newest spherical of financing follows a $500 million fairness funding from Kinderhook Industries in December 2021.

The Tampa-passed firm stated the brand new funding would help new risk-based payer partnerships, strategic acquisitions as the corporate expands operations to new states, and continued openings of  new clinics.

Over the 22 months because the Kinderhook financing, Higher Well being Group stated, it has doubled its affected person base to greater than 1 / 4 million, doubled the scale of its supplier community, and tripled the variety of company-owned medical facilities. Over the previous yr, Higher Well being Group generated $1.2 billion in income by its operations throughout eight states and Puerto Rico.

 “Our payer, supplier, and funding companions acknowledge our lengthy monitor file of success operating a scalable, value-based care group,” stated Mike Polen, CEO of Higher Well being Group, in a press release. “Since inception, the corporate has generated constant profitability and industry-leading care high quality. We’ve performed so by counting on shut collaboration with our supplier companions and thru complete care administration that emphasizes early illness detection and prevention. The method helps our sufferers obtain higher well being, permits our suppliers to ship increased high quality and extra personalised care, and offers our payor companions higher monetary stability. Briefly, we’re offering actual value-based care.”

Earlier than becoming a member of Higher Well being Group, Polen served as senior vice chairman and Medicare CEO at Centene Corp., the place he was accountable for main the Medicare Benefit enterprise. Previous to Centene, he spent 15 years at WellCare Well being Plans serving final as government vice chairman of Medicare and Enterprise Operations.

The corporate stated its “two-pronged providing” has attracted 575 new suppliers to the community since 2022. These suppliers can keep possession of their practices and associate with Higher Well being Group’s administration companies group and ACOs, or they’ll work as staff at considered one of its 162 company-owned medical facilities.

 “Nearly 90 % of our suppliers ship financial savings in value-based preparations whereas additionally attaining the very best high quality scores,” stated Chris Michalik, managing director at Kinderhook Industries, in a press release. “BHG’s outcomes communicate for themselves.” 

Michalik was the chairman of Wellcare Well being Plans previous to its acquisition by Centene in 2020. 

 “Over the previous two years, we now have proven the healthcare {industry} that not solely does our mannequin work, but it surely’s additionally scalable,” stated Sidd Pagidipati, Higher Well being Group’s founder and chairman, in a press release. “With just one in 5 major care suppliers taking part in risk-based value-based care preparations, we see huge alternative to assist suppliers throughout the nation earn extra by delivering higher care to their sufferers.”