UpStream Healthcare recognized in Private Track side by side to public company peers at the JP Morgan Healthcare Conference
Company CEO Dr. Sanjay Doddamani Presented at J.P. Morgan Healthcare’s Conference
SAN FRANCISCO, Jan. 10, 2023 /PRNewswire/ -- UpStream Healthcare, a risk-bearing primary care enablement company, was among a relatively short list of value-based providers to present at the annual J.P. Morgan Healthcare conference. UpStream has a unique model of care developed over three decades by company founder, Fergus Hoban, of embedding pharmacists and nurses into primary care practices and in the community to improve the coordination of care. The company recently raised $140 million in series B funding that was noted by industry reports to be one of the largest raises in its category in the last quarter.
Company CEO, Dr. Sanjay Doddamani, a physician, and former CMS official hailed their rapid growth as being reflective of the intense demand for a better clinical and financial model in senior focused care. UpStream reports growing from 250+ primary care providers (PCPs) in 2022 to over 1000+ PCPs across 3 states - from 4 to 24 counties in North Carolina and announcing new partnerships in South Carolina and South-Eastern Virginia.
With an impassioned voice, Doddamani said, “that without the necessary supports, many older, sicker patients with complex medical conditions struggle to fend for themselves and stay out of hospital.”
He added, “We are a small company compared to some of our peers at this conference, but with a very big idea that older sicker adults can live more meaningful, independent lives without the burden of chronic disease. To get there, we go upstream by giving patients and the doctors caring for them, better resources, better care, and better economics.”
The company reported doubling their revenue approaching $2 billion compared to last year and covers a total of approximately 180,000 Medicare-eligible patients. “We see reduced total costs for engaged patients at steady state between 20-30%,” reported Doddamani. “Rather than several point solutions, ours is a platform approach. We use technology to risk stratify patients with greater medical needs, and then apply our pharmacist-led care teams to address their medical and social issues, closing gaps in care and focusing on improving medication adherence to control their underlying conditions.”
At a time of great economic uncertainty, and recently announced federal cuts to physician reimbursement, UpStream is helping transition more primary care physicians from fee-for-service to value-based payments, adopting a graded payment that is tied to quality. Doddamani said, “UpStream reduces financial risk for doctors to embrace value-based care, while at the same time making the process more transparent. With dwindling margins and challenges to economic stability, two-thirds of primary care physicians have at some point considered selling their practices. It’s time for a new model of care and financial dependency of solely fee-for-service.”
UpStream Healthcare Company is a global risk, managed services organization providing physicians with the support and systems they need to improve healthcare for seniors. The company provides a powerful platform that allows physicians, pharmacists, and nurses to work together in primary care practices to achieve better outcomes and value. For more information, please visit UpStream.care.
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SOURCE UpStream Healthcare