Startup Yuvo Health announced Tuesday that it has raised $7.3 million to support its partnership with federally qualified medical centers. The seed round was led by early-stage venture capital fund AlleyCorp, with participation from angel investors including AV8 Ventures, New York Ventures, Brooklyn Bridge Ventures, and Ro Chief Medical Officer Dr. Melynda Barnes.
in New York City Youwo Health Provides administrative and managed care contracting services to FQHCs to provide primary care to underserved populations.
Yuvo Health said the funding will be used to demonstrate the effectiveness of its initial program in upstate New York and expand in that market. The healthtech company, which launched a year ago in January 2021, is recruiting FQHCs to join its network, providing clinical integration and administrative services to its FQHC partners and building value-based care with Medicaid-managed care plans throughout the process Shared Savings Contract Downstate Territory. CEO and co-founder Cesar Herrera said that after initial market success, the company is planning to expand into other parts of New York State as well as some key state markets — namely Michigan, Ohio, Pennsylvania and New Jersey. UWO Health.
Payments for healthcare services are increasingly tied to quality of care and are shifting away from volume-based fee-for-service models. But some healthcare organizations are better equipped to make this transition than others. Yuvo Health’s services to federally-qualified medical centers will help those centers unlock revenue streams through value-based care, the company said.
“Unfortunately, many FQHCs are either too small or do not have the appropriate management resources to enter into a shared savings contract or to meet the really stringent quality of care and total cost goals associated with a contract to achieve savings,” explains Herrera. “So this That’s where we come into play to remove all these administrative and regulatory barriers that would otherwise hinder their ability to generate additional income.”
Over the next few months, Yuvo Heath said it plans to expand its team to focus on quality analysis, care coordination and risk adjustment. The company is also expanding its leadership in key areas such as product, engineering and population health strategies, the company said.Throughout January, Yuvo Health hosts Informational Webinars For FQHC.
“FQHC has cared for nearly 30 million patients and has played a critical role in the COVID-19 pandemic response in underserved communities,” Dr. Brenton Fargnoli, managing partner of AlleyCorp Healthcare Fund, who joined Yuvo Health’s board of directors, said in a statement.
Investments like this will allow FQHC to modernize its technology infrastructure and expand services to include home care, telehealth and behavioral health support for patients, Fargnoli said. “These key resources facilitate high-touch, well-coordinated care, enabling FQHC to successfully execute value-based contracts and, most importantly, provide quality care to communities in need.”
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