Tuesday Health Raises $60 Million to Launch App and Supportive Care for Seriously Ill Medicare Patients
Tuesday Health, a healthcare startup, has raised $60 million to launch an app and supportive care for seriously ill Medicare patients. The funding comes from a partnership with Valtruis, Blue Venture Fund, Mass General Brigham Ventures, and CareSource.
CEO Jim Wieland, former president of Magellan Specialty Health, plans to use the funds in four key areas. Firstly, the company is hiring experienced individuals in various roles, including technology, HR, finance, operations, nurses, and social workers. Secondly, the funds will be used to build a clinical structure for evidence-based care plans and remote monitoring technology.
The mytuesday app, developed in partnership with Mass General Brigham Ventures, is a symptom-monitoring tool that has shown promising results in oncology pain management. With a 26% reduction in pain scores and a 69% reduction in pain-related hospital admissions, the app allows for timely interventions to prevent escalation of pain.
Tuesday Health aims to launch three to five pilots this year, starting with a health plan in Ohio in July. The company’s business model focuses on Medicare, Medicare and Medicaid dual eligibles, accountable care organizations, Medicare Shared Savings Program participants, and others in risk programs.
The goal of Tuesday Health is to reduce costs for end-of-life patients by minimizing hospitalizations and improving the overall care experience. By facilitating a smooth transition to hospice care when appropriate, the company aims to provide a coordinated and integrated experience for patients and caregivers.
With a vision to revolutionize supportive care and improve patient experiences, Tuesday Health is dedicated to providing support and care in the right setting at the right time for those facing serious illness. Dr. Mihir Kamdar, head of care delivery at Tuesday Health, emphasizes the importance of early engagement and proactive measures to address the evolving needs of patients over time.
Overall, Tuesday Health’s innovative approach to supportive care aims to address the challenges faced by seniors and their families in navigating the healthcare system during their final years. Through strategic partnerships and cutting-edge technology, the company is poised to make a significant impact in improving the quality of life for seriously ill patients.