Two insurance companies invested in chronic kidney disease startup Cricket Health on the grounds of better results. Both Cigna Ventures and California Blue Shield contributed to the latest round of financing, and Cigna claims that the number of hospitalizations has decreased by 50% since May 2020.
Cricket recently raised $83.5 million in financing, led by Valtruis, Recently created subsidiary Private equity firm Welsh, Carson, Anderson & Stowe invests in value-based care companies.
The startup plans to use the funds to expand its kidney care model in the U.S.
Headquartered in San Francisco and Cambridge, Massachusetts, Cricket uses predictive analytics to identify patients with chronic kidney disease and provide them with care teams and educational support. The company was founded in 2015 and has raised US$120 million so far.
One of the challenges of kidney disease is that many patients do not begin to show symptoms until late. Cricket uses predictive analysis to identify patients with stage 3b and above kidney disease, these patients have some kidney damage, it is important to prevent progression to later stages of kidney disease.
It uses this information to stratify patients’ risk and connect them with the nursing team, including nurses, social workers, nutritionists, pharmacists, and peer mentors. These visits are done virtual or in person at Cricket’s local clinic.
Through early intervention, the goal is to reduce the number of people who start dialysis unplanned in the hospital. Cricket claims that 77% of users who start dialysis are in outpatient clinics, and 45% of users start dialysis at home.
Although Cricket touts its results, it is not the only company adopting this approach. Monogram Health, a startup based in Tennessee, combines analysis with home care services for chronic kidney disease. Recently raised $160 millionIt has established a partnership with Humana to coordinate the care of its Medicare Advantage and commercial members in the four states.
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