CareConnectMD

About CareConnectMD

CareConnectMD operates as a provider enablement organization focused on the frail, elderly, and medically complex patient population. Its history dates back to 1996, when founder and CEO Kim Phan co-founded Gerinet Medical Associates with Dr. Chris Mlot. This initial venture was born from Ms. Phan's firsthand experience as an administrator for skilled nursing facilities (SNFs), where she observed uncoordinated and fragmented care for patients with advanced illnesses. This professional experience, combined with her personal journey of navigating the healthcare system for her father, inspired her to develop new models for post-acute care. The company, which was later renamed CareConnectMD, pioneered the introduction of nurse practitioners into Southern California nursing homes.

The firm's business model centers on value-based care, participating in programs from the Centers for Medicare & Medicaid Services (CMS). Specifically, CareConnectMD operates as a High-Needs Accountable Care Organization (ACO) under the ACO REACH (Realizing Equity, Access, and Community Health) Model. This model incentivizes providers based on the quality of care and patient health outcomes rather than the volume of services rendered. The company takes on financial risk for the total cost of care for its Medicare beneficiaries, aligning its incentives with cost reduction and quality improvement. Its clients are primarily skilled nursing and long-term care facilities, and it also partners with physician groups to enable their participation in these value-based arrangements. CareConnectMD provides resources for short-term, post-acute, and long-term care patients.

The service portfolio includes comprehensive primary care, palliative care, symptom management, geriatric behavioral services, and telemedicine. A key feature is a mobile, interdisciplinary care team of physicians, nurse practitioners, and care managers that delivers services directly to patients wherever they reside, be it an SNF or their own home. This approach aims to provide coordinated care, treat patients in place, and reduce preventable hospital transfers. By embedding clinical resources like nurse practitioners into facilities, the company enhances existing staff capabilities and ensures rapid response for at-risk patients. The company has received venture capital funding, including a $25 million round in July 2022, to expand its geographic presence in states like California, Ohio, and Texas and to further develop its technology platform for care delivery and analytics.