Valendo Health, a diabetes-focused, value-based endocrinology company, announced its launch with $4 million in seed funding and two providers.
The company, built out of Redesign Health, aims to increase revenue for endocrinologists while assisting with the transition to a value-based care model.
It offers telehealth and remote patient monitoring services with diabetes care clinicians, an endocrinology-focused EMR, data analytics and assistance with implementing value-based care contracting.
The Boston-based company has partnered with two providers: Cecelia Health, a national virtual specialty care provider for chronic care management, and Advanced Metabolic Care + Research, an endocrinology center in Southern California serving patients with diabetes and other metabolic conditions.
“Our research indicates that diabetes patients cared for by an endocrinologist are healthier and experience far better outcomes, but many patients don’t have access to specialty care,” Dave Terry, CEO and cofounder of Valendo Health, told MobiHealthNews in an email.
“Endocrinologists are among the lowest paid specialists in the U.S. and face significant capacity constraints. At Valendo, we provide endocrinologists the tools to increase clinical capacity and grow practice revenue through virtual care and practice management support, and then we help them transition into value-based contracts. Our mission is to help endocrinologists treat more diabetes patients and be rewarded based on the immense value they create.”
THE LARGER TREND
In 2021, 29.7 million people, or 8.9% of the U.S. population, had been diagnosed with diabetes.
Other companies focused on diabetes management include pharma giant Lilly, which launched LillyDirect earlier this year. The digital health experience provides patients with diabetes, obesity and migraines access to healthcare providers, educational information and a digital pharmacy for select Lilly medicines.
Last year, South Korean internet company Kakao Corporation entered into an agreement with Dexcom to set up a global digital diabetes-management service. The collaboration combines Kakao Healthcare’s A.I. and software technology capabilities with Dexcom’s continuous glucose monitoring (CGM) devices, Dexcom G6 and G7.