Iora Health secures $100 million in venture capital funding
Iora Health, a value based primary care provider with four locations in Washington State has secured $100 million in funding from venture capital firms to support continued growth and improved technology. Iora Health currently serves patients across the country with a high impact, relationship-based care model that rates highly in patient satisfaction, improve health, and reduces costs.
Iora Health’s care model focuses on relationships to improve health outcomes. Care teams, made up of a provider, Health Coach, Behavioral Health Specialist, Team Nurse, Clinical Team Manager and an Operations Assistant, work together to treat the whole person. In Washington, Iora Health is currently primarily focused on services to older Medicare recipients, and will use the new funding to expand care opportunities to six practices this year. Says Rushika Fernandopulle, Co-Founder and CEO of Iora Health,
“Last year we doubled our number of patients, and we are on track to do the same this year. Iora’s vision since our inception has been to transform health care. To have truly transformative impact, we must continue to grow and care for more patients. With the support of our investors, this new funding will allow us to deliver our high quality care to more patients in new and existing markets.”
The financing demonstrates that investors are recognizing the value in innovative Medicare cost saving programs that seek to improve care while lowering overall costs. The United States continues to spend more than other countries on health care despite experiencing consistently worse outcomes. Iora Health’s patients overall see a 40% decrease in hospitalizations and a 20% decrease in ER visits while also reporting high rates of satisfaction and the investors have taken note of this success.