Advisory Board Co. has acquired Care Team Connect, an Illinois-based developer of population health management tools that was backed early on by a trio of local investors. Way back in 2010, Martin Companies teamed up with Heritage Group and the Nashville Capital Network as well as some other firms to pump $2.7 million into Care Team Connect, whose software helps providers coordinate their care plans.
“This is a very successful exit for Nashville Capital Network, NCN Angel Fund I, and our angel partners. Our Nashville-led investment syndicate included some of the leading health care entrepreneurial investors in our community. Ultimately, some of the relationships within our group led to the connection with The Advisory Board,” said Sid Chambless, Executive Director of Nashville Capital Network.
A third of the health systems that took part in a recent survey by the Advisory Board Company already have their own insurance plans. Another 21 percent plan to join them in the coming years. HealthLeaders' Margaret Dick Tocknell has the details and some insights.
He says with the focus on population health hospitals and health systems now have a much broader view of their place in the healthcare delivery system. They look beyond their own walls to their affiliated physicians, as well as their outpatient and home health resources. They are exploring how to bring these entities together in a more seamless way to deliver a better product to the market in terms of cost and quality.
"Once you begin to move in that direction, how do you get paid? Health systems are stepping back and asking how [they] can get paid effectively to get a return from this effort," says Williams. "Some are deciding that it makes sense to offer their own product to the market."
D.C.-based Privia Health, which boasts a wealth of Nashville roots, announced Monday it has just closed a $12.3 million series B funding round. Privia CEO Jeff Butler, who previously spent time with local household names HCA and LifePoint, is building a wellness and care management venture that partners with physician groups. Another local connection: One of the company’s investors is John Deane with Nashville-based Southwind.
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