Better Health Receives 3.5 M in Seed Funding

Better Health Receives 3.5 M in Seed Funding

Healthcare Tech Outlook | Monday, April 19, 2021

Naama Stauber Breckler, CEO & Co-Founder, Better Health

Better Health offers a safe and cost-effective way for people with chronic illnesses to purchase medical supplies from the comfort of their own homes.

FREMONT, CA: Better Health, a next-generation medical provider that offers a seamless e-commerce interface and white-glove support to 80 million Americans with chronic conditions, has announced its official launch following the closing of a 3.5 million dollar seed round and national contracts with leading health insurers such as Oscar Health and Humana.Caffeinated Capital and Anorak Ventures also participated in the round, which 8VC led. Leading digital health executives Robert Hurley and Scott Flanders of eHealth joined them.

"I have worked with Medicare Advantage and commercial insurers for more than 30 years," said Robert Hurley, Former President of Carrier Development and the Medicare Business, eHealth. "Patients requiring medical supplies comprise a large and growing share of health care costs, in part because these patients have high hospital readmittance rates related to their medical supplies. Better Health provides expert guidance to help patients select the right supplies and learn to use them. This improves patient lives and lowers insurers costs."

An Obsolete Market Meets a Cutting-Edge Solution

The 60 billion dollar Home Medical Supplies (also known as DME) industry covers all reimbursable medical equipment and supplies (catheters and ostomy supplies, braces and mobility, diabetes, and so on). It serves more than 80 million Americans with chronic conditions. Traditionally, the industry has left customers to handle the nuances of treatment on their own, as shown by low NPS scores and manual processes.

Better Health offers a safe and cost-effective way for people with chronic illnesses to purchase medical supplies from the comfort of their own homes. Better Health helps its participants sort through hundreds of available options to select a suite of products best suited to handle their particular condition and needs by providing tailored product reviews, out-of-pocket cost estimates, and managing all medical and insurance paperwork.

Better Health handles its participants' supply needs and helps them develop the skills necessary to effectively manage their condition at home through one-on-one coaching, support groups, and comprehensive content and education. NaamaStauberBreckler, co-founder and CEO of Better Health, is a serial healthcare entrepreneur who previously founded CompactCath, a cutting-edge intermittent catheter solution. She found that medical supply patients struggled to find the right items and learn how to correctly use their supplies, resulting in negative results. "I knew there had to be a better way to help these patients. Better Health improves the lives of patients who use medical supplies by getting them the best products in a timely, cost-effective, and stress-free manner. More importantly, we provide our members with education and support so they are better prepared to manage their chronic condition in the long run."

Commenting on the launch, Drew Oetting, founding partner at 8VC which led the investment round said: "We are excited to be a part of Better Healths journey and mission to make the process of getting medical supplies faster, easier, and more transparent. The market is quite literally crying out for modernization. With the aging population's increased web savviness and agency over their health, Better Health is well positioned to thrive, riding the waves of ecommerce and telehealth into the fragmented medical supplies industry."

Payer Partnerships

Better Health remains to expand its insurance network to serve its customers better. Besides partnering with several Medicaid programs and commercial plans, including Humana and Oscar Health, the organization is a Medicare-licensed provider in 48 states. Better Health's unique method of bundling treatment and assistance with the delivery of medical supplies has been shown to improve members' quality of life and reduce readmission risk.

Better Health is primarily focusing on patients with ostomies or chronic urological disorders, although it is increasingly widening its service ranges to meet the demands of its members.

Weekly Brief