ADAM BOEHLER AND MARTIN VENTURES INVEST IN HEALTHCARE COMPANY FOR PEOPLE WITH DISABILITIES
Mar 31, 2022, 08:00 ET
NASHVILLE, Tenn. and MAPLEWOOD, N.J., March 31, 2022 /PRNewswire/ -- Adam Boehler, former director of the Center for Medicare & Medicaid Innovation (CMMI), in partnership with venture capitalist firm, Martin Ventures, today announce their investment in StationMD, a healthcare company that uses telemedicine to deliver medical care to people with intellectual and developmental disabilities (I/DD). That includes individuals with autism spectrum disorder, Down syndrome, and cerebral palsy.
The investment is part of a trend to back innovative home- and community-based care models that keep high-risk/high-cost populations out of the emergency room and hospitals, while cutting costs and improving health outcomes.
"I've watched StationMD expand from serving 1,300 individuals in three states to 32,000 in 12 states and counting in just two years," said Boehler. "Payers, patient advocates, and policymakers have been seeking solutions to close the health equity gap for vulnerable populations. I'm passionate about supporting companies like StationMD that leverage their expertise, specialization, and telehealth tools to improve the patient experience while improving the quality of care and reducing healthcare costs."
"We are making meaningful investments to expand healthcare to a population that has always been underserved. StationMD offers an unrivaled capability to tailor medical care to people with I/DD, and we are excited that our investment will help expand the service. It's an important step to improving care for millions of people." said Devin Carty, CEO of Martin Ventures.
The pandemic has been a catalyst for increased telemedicine use and is deemed widely effective. For people with I/DD, the value of telemedicine is more pronounced as they struggle with chaotic emergency rooms, transportation, and finding specially trained doctors. They are often high ER utilizers, incurring significant health care costs as a result. StationMD provides alternative access to medical care for this population. StationMD clients have reported data that shows the service translates to better health outcomes and cost-savings into the millions.
"Last year, StationMD doctors performed nearly 25,000 virtual consultations and resolved patients' medical concerns 93 percent of the time, averting the need to travel to the ER or urgent care," said Dr. Maulik Trivedi, cofounding doctor at StationMD. "We have consistently found that our specialized telemedicine service provides people with I/DD better care at a fraction of the cost of going to the ER."
The investment from Boehler and Martin Ventures is a strong signal to insurers to offer in-home care to members and encourage its use going forward to reduce costs.
For more information visit StationMD.com.
Paige Bagby, Communications Manager
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