Remedy Partners, a Darien, CT-based developer and manager of bundled payment programs for government and private health insurers, raised $50m in Series B funding.
The round was led by Bain Capital Ventures. In conjunction with the funding, Bain Capital Ventures Managing Director Mike Krupka will join Remedy Partners’s Board of Directors.
The company intends to use the funds to grow customers and partnerships.
Led by Chairman Steve Wiggins, Remedy Partners develops and manages Bundled Payment Programs in partnership with hospitals, physician groups health systems, skilled nursing facilities and home health agencies. The company’s role in a bundled payment program includes advanced analytics; care management and workflow software; on-line and on-site training programs; 24/7 telephonic nurse support services; creation and management of post-acute provider networks; and administrative services to guide and promote program success.
Since implementing its first partnership in October 2013, the company has live bundled payment programs in more than 1,300 healthcare provider sites, including more than 800 hospitals.