Let's bring healthcare home
Published by
Vijay Kedar
on
The Tomorrow Health story is best told through the experiences of those who we serve, like Jim, a 64-year-old teacher in Pennsylvania. Jim was admitted to the hospital for acute respiratory distress after rushing to the emergency room when he had trouble breathing. To return home, Jim needed oxygen and mobility support. His doctor placed an order digitally through Tomorrow Health, which automatically matched the order with the highest quality in-network supplier. Recognizing his mobility challenges, our solution surfaced that the default, heavy oxygen concentrator would not be an effective option. He wouldn’t be able to bring the large, cumbersome device inside from his doorstep, let alone get around his house and make it to his follow-up appointment.
Our technology provided automated coordination between Jim, his doctor, and the supplier – enabling him to get a portable oxygen concentrator, which typically takes 4-5 days, in less than 90 minutes. Not only did this allow him to recover faster at home and easily adhere to his care plan, but it also avoided another costly and stressful hospital readmission. Our solution saved the doctor time, helped the supplier provide the highest quality care, and saved money for the insurer. Best of all, Jim was able to get back on his feet in the place he wanted to be – home.
I’m all too familiar with stories like this since encountering challenges with my mother’s home-based care over 7 years ago. Patients face myriad obstacles in receiving life-sustaining home healthcare and equipment, with 3 in 4 patients reporting complications getting the home-based care they need. We at Tomorrow Health streamline access to such care, helping hundreds of thousands of patients transition from the hospital and manage chronic conditions.
And we’re just getting started.
Today, I’m humbled to announce that we’ve closed a $60 million Series B round, led by BOND, with participation from Andreessen Horowitz, Obvious Ventures, Sound Ventures, and BoxGroup. With this funding, the future state we envision building — a full continuum of home-based care that’s seamless, efficient, and accessible to all — is within sight.
As we embark on our next stage of growth, we’re guided by the same core values that have motivated us from day one.
Change the system from within
We launched Tomorrow Health one month into a global pandemic because we saw an unmet need: as COVID-19 accelerated the shift to home-based care, it revealed deep flaws in our archaic healthcare system. Patients could not get urgent medical equipment and supplies when they needed them. Upon launch, we worked with the NYC mayor’s office to help the city’s seniors obtain respiratory equipment and diabetic supplies to weather the pandemic. In 2021, we partnered with insurers like Pennsylvania’s Geisinger Health Plan to coordinate home-based care for their 550,000+ members. Today, we are expanding partnerships with national and regional insurers and provider-sponsored health plans throughout the country. Per our advisor Seth Cohen, President of Cedar Health,
“Tomorrow Health is not just a vitamin, but it is a painkiller. It's a necessary solution for payers who are really struggling to address the higher and higher costs of hospital-based care and eager for solutions that can rationalize and drive efficiency in the home-based care space.”
Be the catalyst
We’ve grown dramatically, with an explosive 317% increase in ARR year over year and 10x employee growth since launch. Our home-based care solution now covers millions of Americans across the country. Our progress is driven by the caliber and dedication of our people. Bringing expertise from both within and beyond healthcare, including from Amazon, Flatiron Health, Oscar, Warby Parker, McKinsey and Stripe, our employees are change-makers who take initiative, act with urgency, and find solutions.
Fight like hell for patients
Advocating for patients is at the heart of everything we do. It guides our priorities, drives our decisions, and inspires us to come to work every day. We’re passionate about expanding access to high-quality home healthcare because we know firsthand how it enables patients to thrive.
Our latest funding round will enable us to expand partnerships with national and regional health plans, grow in new markets, and invest in our market-leading technology. At a time when many companies in the market are understandably pulling back on growth, we are fortunate to be pushing forward. We’re hiring across the company, particularly in business development, engineering, product and operations. As our advisor Beth Bierbower puts it,
“The pandemic really helped serve as an accelerator, but home-based care is here to stay… patients get to remain in their home, a place where they're comfortable, a place where they're familiar, and a place where in most situations, they will be able to recover more rapidly.”
It's clearer than ever that we need a reimagined home healthcare experience, and we're building it alongside healthcare partners nationwide. We are fueled by the stories and experiences of the patients we are humbled to serve. We are motivated by the scale of our ultimate vision to enable home-based care for over 100 million patients and families.
