Table: Value-Based Kidney Care

11 companies, 4K employees, $2B+ raised, one mission.

Dec 13, 2023

Welcome to the definitive (space-themed) guide to the value-based kidney care market.

In case you missed it, my first Signals article covered 3 VBC companies who then managed around 375,000 lives and over $8 billion in spend. We also talked about the larger trillion-dollar opportunity for value-based care across indications, and why kidney care has room to run.

In this post you’ll meet 11 companies in the arena who manage roughly twice as many lives and upwards of $15 billion in annual spend. This reference guide will help you get up to speed quickly on their respective journeys to improve the cost and quality of kidney care delivery in the United States.

It’s time for value-based kidney care, Signals edition!

IN THIS ISSUE

Somatus

Somatus partners with nephrology and primary care groups, leading health plans, and health systems to provide integrated care for patients with, or at risk of developing, kidney disease.

HQ Location: McLean, Virginia
Founded: 2016
Team size: 1,450+
1-yr team growth: +2%
Total funding: $465 million
Capital partners: Wellington, Optum Ventures
Reach: 160,000 lives
Markets: 36 states
Select Outcomes:
- -18% reduction in cost
- >50% readmission rates reduced
- 50% reduction in unplanned dialysis crashes
- 21% lower inpatient utilization

Learn more at somatus.com

Strive Health

Strive delivers compassionate kidney care the way it should be done. The company emphasizes data-driven insights, high-touch care, prevention and next generation dialysis services.

HQ Location: Denver, Colorado
Founded: 2018
Team size: 490
1-yr team growth: +25%
Total funding: $386 million
Capital partners: Town Hall, NEA, CVS Ventures
Reach: 100,000 lives
Markets: 30 states
Select Outcomes:
- +67% optimal starts
- 49% reduction in hospitalizations
- 52% higher home modality start rate vs. national average

Learn more at strivehealth.com

Monogram Health

Monogram Health provides evidence-based, whole-person, in-home care for patients with polychronic conditions – including chronic kidney and end-stage kidney disease – so you can focus on what matters most in life.

HQ Location: Nashville, Tennessee
Founded: 2019
Team size: 507
1-yr team growth: +8%
Total funding: $555 million
Capital partners: TPG, Frist Cressey, CVS Ventures
Reach: 4,000 US cities
Markets: 35 states
Select Outcomes:
- 28% home dialysis utilization rate
- 45% planned dialysis starts
- 18% reduction in readmission rates
- $1,000 PMPM average risk contribution

Learn more at monogramhealth.com

Interwell Health

Interwell Health is a value-based kidney care management company that partners with physicians on its mission to reimagine healthcare—with the expertise, scale, compassion, and vision to set the standard for the industry and help patients live their best lives.

HQ Location: Boston, Massachusetts
Founded: 2019
Team size: 444
1-yr team growth: +23%
Total funding: $195 million
Capital partners: 3-way M&A (FHP, Cricket)
Reach: 125,000 lives
Markets: 38 states
Select Outcomes:
- $7 billion under management in 2023
- 150%+ greater optimal start rate vs. national average
- 85%+ higher home dialysis start rate vs. national average
- ~20% fewer all-cause hospitalizations vs. national average
- 600,000+ patients served through VBC to date

Learn more at interwellhealth.com

Healthmap Solutions

Healthmap Solutions is an NCQA-accredited kidney population health management company serving health plans, health systems, accountable care organizations, and provider groups seeking a value-based solution to improve the lives of Americans living with chronic kidney disease.

HQ Location: Tampa, Florida
Founded: 2013
Team size: 422
1-yr team growth: +17%
Total funding: $135 million
Capital partners: WindRose (PE)
Reach: 165,000 lives
Markets: 36 states
Select Outcomes:
- $3 billion under management in 2023

Learn more at healthmapsolutions.com

Panoramic Health

Panoramic Health was launched to help physicians, practices, patients, and payers navigate and shape the changing healthcare environment while driving improvements in outcomes and reducing total cost of care.

HQ Location: Tempe, Arizona
Founded: 2017
Team size: 406
1-yr team growth: +51%
Total funding: Unknown
Capital partners: Audax (PE)
Reach: 842,000 lives served (source)
Markets: 19 states
Select Outcomes:
- $1,385 PMPM average savings
- 58% improvement in planned dialysis starts
- 2.5x at-home dialysis starts vs. national average
- 34% hospital admission reduction

Learn more at panoramichealth.com

Evergreen Nephrology

We are putting nephrologists in the driver’s seat, where they belong. Through strategic partnerships, we empower nephrologists with financial backing to implement best-in-class interdisciplinary clinical resources, analytical insight and tools, and services to patients.

HQ Location: Nashville, Tennessee
Founded: 2021
Team size: 211
1-yr team growth: +51%
Total funding: $4.3 million
Capital partners: Rubicon Founders
Reach: 20,000 lives
Markets: 17 states
Select Outcomes:
- 700+ provider partners

Learn more at evergreennephrology.com

Renal Care 360

Our vision is to transform renal care by using innovative technologies and personalized interventions, such as remote monitoring, education, and emotional support, to improve outcomes, slow disease progression, and reduce the overall cost of care for chronic kidney disease and related conditions.

HQ Location: Franklin, Tennessee
Founded: 2018
Team size: 145
1-yr team growth: +50%
Total funding: Unknown
Capital partners: Pharos (PE)
Reach: 30,000 lives
Markets: 3 states
Select Outcomes:
- -17% reduction in costs

Learn more at renalcare360.com

Kidneylink

Kidneylink is the value-based care arm of US Renal Care. The company is built on three founding principles that have delivered success for its patients and nephrologist partners: 1) seamless integration into nephrology practices; 2) equitable partnerships with nephrologists; and 3) data insights for nephrologists at the point-of-care.

HQ Location: Plano, Texas
Founded: 2022
Team size: 125
1-yr team growth: +50%
Total funding: $328 million
Capital partners: Bain Capital (PE), USRC
Reach: 16,000 lives
Markets: 12 states (CKCC)
Select Outcomes:
- $600 million under management
- 600 nephrologists nationwide

Learn more at kidneylink.com

Duo Health

Duo Health is a new type of medical group designed around the needs of patients with chronic kidney disease & kidney failure and their physicians.

HQ Location: Chicago, Illinois
Founded: 2023
Team size: 31
1-yr team growth: +63%
Total funding: Unknown
Capital partners: Chicago Pacific Founders
Reach: Unknown
Markets: Unknown
Select Outcomes: Unknown

Learn more at duohealth.com

REACH Kidney Care

REACH is a kidney health management program designed to benefit members along the continuum of kidney disease. REACH provides one-on-one, individualized care management, both in-person and virtually, to help members navigate their health in a way that best fits their life.

HQ Location: Nashville, TN
Founded: 2010
Team size: 22
1-yr team growth: +10%
Total funding: Unknown
Capital partners: Dialysis Clinic Inc.
Reach: 4,000 lives
Markets: 12 states
Select Outcomes:
- 46% home dialysis start rate
- 7% pre-emptive transplantation rate
- 71% start dialysis with a permanent access
- 81% avoid hospitalization before dialysis
- 94.9% of members are likely to recommend REACH

Learn more at reachkidneycare.org

Notes

This article is intended to be used as a quick reference guide if you find yourself thinking or talking about the space. Believe me when I say there is a metric ton MORE info on most of these companies and their care models than I can fit in one table.
This table contains apples and oranges. Each company publishes outcomes data differently (e.g. relative vs. absolute % changes, total CKD lives vs. VBC lives, etc. If you're unsure, check their sites or please reach out!
Find and download the hi-res table PDF anytime in the Signals Data Room.