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Healthcare non-profit makes first-ever outside investment in Nashville-based company that’s transforming care for patients with chronic kidney and end-stage renal disease.
SCAN Group, whose holdings include SCAN Health Plan, one of the nation’s largest not-for-profit Medicare Advantage plans, has made a strategic investment in Monogram Health, a leading kidney care management company providing at-home care and data-driven solutions for patients living with chronic kidney and end-stage renal disease.
According to a release, the investment marks the first time SCAN, which focuses on healthcare for older adults, has made an investment in an outside entity. SCAN Group made the investment as part of its larger diversification strategy, through which it will build and invest in new companies to support healthier aging. After inking the deal, SCAN and Monogram also signed a strategic agreement formalizing the two entities’ intent to work together to improve care for older adults with kidney disease.
“This strategic partnership marks an important new chapter for SCAN and a valuable investment in the health of America’s seniors,” said Dr. Sachin Jain, president and CEO of SCAN Group and SCAN Health Plan. “SCAN recognizes the tremendous challenges faced by the growing population of patients experiencing chronic kidney and end-stage renal disease, and we believe Monogram Health is doing the right work at the right time to serve this patient population.”
Approximately 31 million Americans are living with chronic kidney disease and end-stage renal disease, according to the United States Renal Data System. Of those, more than 26 million are over age 65.
Monogram Health partners with health plans, physician practices, dialysis providers and clinically integrated health systems to develop personalized care plans that keep patients independent and at home. Because of Monogram’s unique, in-home care model, the readmission rate for its patients is half the national average.
"We pride ourselves on working with and building innovative companies that are truly transforming the delivery of healthcare,” said Dr. Jain. “We share Monogram’s vision of making kidney care more accessible to more people, lowering the cost of care, and at the same time improving both quality of life and health outcomes.” Jain noted that about 90% of Monogram patients are enrolled in Medicare Advantage plans, SCAN’s traditional focus and the area in which it has developed a record of expertise.
“We are pleased to partner with SCAN to offer advanced solutions that expand access to evidence-based therapies and proactive planning,” said former U.S. Sen. Bill Frist, M.D., co-founder of Frist Cressey Ventures and Monogram Health’s board chairman. “By leveraging the power of Medicare Advantage plans to provide better care to older adults at a lower cost, both of our organizations will work together to ensure that people with kidney disease can take greater control of their health and quality of life.”
"The COVID-19 pandemic has put a spotlight on the home as a safe healthcare setting for dialysis and other kidney-related care," said Michael Uchrin, Monogram Health’s CEO and co-founder. "Monogram’s solutions empower vulnerable patients with renal disease to be treated in the comfort and safety of their own homes. This innovative approach to managing kidney care delivery is improving health outcomes for a population that drastically needs and deserves better care."