By committing to cutting-edge technology and strategic partnerships, Tomorrow Health hopes to be a pioneer in a future where the home becomes the primary site of care.
However, doing so will take some innovation and overhaul of a system that is in need of upgrades.
“I think one of the biggest [obstacles] is something that our industry has been facing writ large, which is the transition from analog to digital,” Tomorrow Health CEO Vijay Kedar told Home Health Care News’ sister site HME Business. “A wide breadth of how home-based health care is delivered today is still on the back of incredibly rote, manual, inefficient processes. These are processes and bottlenecks that help no one.”
Tomorrow Health is a New-York-based startup that enables home-based care through technology and other means. It does so via a network of providers, health systems and health plans. Since launching, the company has secured $92.5 million in funding.
In May, Tomorrow Health reworked its business model and closed its medical supply business to focus more on its tech capabilities. That’s been the primary focus for Kedar for 2024.
“It’s been a big focus of ours to really accelerate the digitization of this ecosystem,” Kedar said. “It requires building purpose-built technology for physicians and hospital partners looking to coordinate the transition to home-based care effectively.”
Ineffective or outdated technology drives delays in patients getting care, Kedar said. Too often, health care can be bogged down by analog notetaking and other processes.
Outdated technology, Kedar argues, drives inefficiency and can also affect outcomes in a negative way.
“They drive increasing operating costs for providers and suppliers,” he said. “As a result, they push people to go back to the hospital, which drives up the cost for insurers, risk-bearing entities and everyone involved.”
Naturally, home medical equipment (HME) is poised to play a role in that.
In particular, the transitioning from intense care in the hospital to high-acuity in-home care is a golden opportunity for HME providers.
“We think there’s a huge opportunity for the industry to play a big role in enabling this holistic shift of care to the home,” Kedar said. “Fundamentally, we believe that as we look at the most effective ways to deliver care to patients, there should be more HME in the highest value ways, not less.”
Tomorrow Health is also banking on the fact that home-based care providers are in crunchtime in the rapidly changing value-based care landscape.
Advanced technology and HME providers can help reduce the costs of care by enabling smoother transitions and preventing readmissions.
“It’s going to require partnerships that we facilitate for providers with health plans and risk-bearing organizations to be compensated for the value they drive,” Kedar said. “We want to enable our partners in this industry to really enter a new phase of growth and care delivery that is built on digital enablement and efficiency. We think that’s going to drive the benefit of organizations, providers and patients alike.”
