Tomorrow Health Cements its Focus as the Premier Partner for Home-based Care Providers by Closing its Medical Supply Business
NEW YORK, May 25, 2023 /PRNewswire/ -- Tomorrow Health, an innovator in home-based care, announced that it has closed its first-party home medical equipment (HME) supply business to remove barriers and unlock new opportunities for its network of home-based care providers. Tomorrow Health serves as a partner for home-based care needs to leading suppliers, including AdaptHealth, Apria, Home Care Delivered, Lincare, and Rotech Healthcare, providing each with holistic technology solutions that streamlines end-to-end workflows and enables unparalleled operational efficiency at scale.
Tomorrow Health's vision has always been to restore the home as the primary point of care. Initially, it sought to achieve this vision by operating its own home medical equipment (HME) supplier business. A more powerful opportunity to shift care to the home quickly revealed itself: the transformation of the end-to-end process of how HME is ordered, processed, and delivered to patients at scale.
Tomorrow Health evolved, building a market-leading connective technology and service layer that coordinates care seamlessly across payers, referring providers, patients and home-based care suppliers. The company's unique approach, built on its prior learnings as an HME supplier business, has delivered technology that supercharges home-based care provider growth via high-quality, cost-effective care. With its technology seeing rapid adoption and impact, Tomorrow Health has formally closed its HME supplier business.
Tomorrow Health's decision to concentrate its focus on technology for supplier partners comes as the broader healthcare ecosystem shifts its strategic priorities and seeks greatr support in enabling the delivery and reimbursement of quality home-based care.
Nearly 91% of health plans have recently indicated plans to move more care to the home. HME suppliers are facing a critical challenge: meeting that demand in an operationally efficient manner. A recent HME delivery cost survey found that new personal protective equipment expenses, plus longer round trips with associated fuel and labor expenses, have increased overall delivery costs by 30% or more for most suppliers.
"HME suppliers are a critical lever to shift care to the home, which is often overlooked by payors," Vijay Kedar, CEO and Co-Founder, Tomorrow Health." Tomorrow Health's technology and unique position with payors enables change end-to-end, supporting everything from prescription to reimbursement while arming suppliers with valuable insights that can drive business growth and ensure positive experiences for every single stakeholder."
"Tomorrow Health is not only focused on delivering high-quality, innovative technology to suppliers in need of operational efficiencies, but they're also connecting with suppliers to understand what is and isn't working for them," said Tom Ryan, President and CEO, American Association for Homecare (AAHomecare), an advocacy organization for home-care providers and DME and HME companies. "By actively seeking out and listening to feedback from the supplier community, Tomorrow Health has been able to build a solution that drives definitively better outcomes for everyone."
Many suppliers today receive HME orders from one-size-fits-all digital solutions that don't meet payor requirements or specific clinical needs. Tomorrow Health delivers an intuitive, precise digital order to suppliers within its platform, prioritizing urgent, same-day orders and queuing other provider orders as they come in, in compliance with payor requirements.
Tomorrow Health has reduced supplier operating expenses by up to 24%. All necessary documentation is included in the order, with 87% of orders having enough information to be immediately serviceable. The supplier also has the ability to communicate with all necessary parties, including payers and providers, about the order through the platform.
"Our partnership with Tomorrow Health enables us to automate and dramatically scale Home Care Delivered's best-in-class customer onboarding process, while simultaneously allowing us to drive the clinical, quality, and financial outcomes that are needed by patients, their healthcare providers, and payers," said Lowell Price, Senior Vice President of Business Development and Chief Growth Officer of Home Care Delivered. "While there are other e-platforms in the market today that we support, none are more strategically aligned to us in both commitment and capability to delivering value-based care in DME than Tomorrow Health. We couldn't be more excited about our partnership."
For more information about Tomorrow Health's supplier technology, please visit https://home.tomorrowhealth.com/suppliers.
About Tomorrow Health
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SOURCE Tomorrow Health