This morning a new startup dubbed Tomorrow Health launched its tech-enabled home-health-product service.
Patients first enter their insurance information, medical needs and state. The platform is then able to give them a personalized view of home health products that meet their health requirements and are covered under their insurance plan. The company also helps to fill out the insurance claim paperwork and coordinate prescriptions with doctors.
The startup, which caters specifically to the Medicare population, also has a price transparency tool that lets customers view how much they will pay for each product based on their insurance coverage.
“By crunching the details of your insurance benefits, along with the healthcare services you’ve used to date, we provide an estimated upfront for total out-of-pocket costs,” Gabriel Flateman, cofounder and CTO of Tomorrow Health, wrote in a blog announcing the news. “And, we take it one step further by providing the option to purchase products outright, with a side-by-side comparison of the cost for each.”
After a customer orders the products, the goods are shipped to their home within two days. Currently the full services are availiable in 25 states, but the company said it plans to grow to reach every state.
Last summer the company got a funding boost with a $7.1 million seed round financing from Andreessen Horowitz, Box Group and Rainfall Ventures, and individuals, including the CEOs of Tenet Healthcare, Flatiron Health, Quartet and PillPack, and the CFOs of Stripe, Massachusetts Medicaid and the World Bank.
WHY IT MATTERS
As the population in the U.S. continues to age, more seniors are aging in place. In fact, the CDC predicts that there will be 74 million people over the age of 65 by 2030. The company is pitching this as a way for people who are recovering from aliments at home to get care.
THE LARGER TREND
From medications to doctor’s visits, in many ways it has never been easier to get healthcare services from home. One area that is growing in particular is mail-ordered medication services. Like Tomorrow Health, GoodRx also has price-comparison tools. However, it is focused specifically on medication comparisons and, more recently, telemedicine-visit comparisons.
Amazon’s Pillpack, also a medication-focused delivery service, is another example of the consumerization of health products.
ON THE RECORD
“We’re launching today with the ability to provide patients with medical products and supplies across eight critical categories in 25 states. Building the tools and capability to do this is no small undertaking,” Flateman wrote in the blog. “It requires an overarching stewardship of process and accountability that leaves no link out of the chain: we are a healthcare provider, a technology platform, a logistics partner, and a concierge support team, all at once. With our team’s diverse backgrounds and deep expertise across all four of these areas, we are creating a new standard for how Americans manage care at home.”