Clever Care Health Plan claims that by vying for a piece of the multi-billion dollar Medicare Advantage market with a pitch to incorporate holistic medical practitioners into its system of service providers, it has benefited from some significant investors and a sizable market opportunity.
In a recent round of funding, the business received $23 million from backers led by Norwest Partners for its novel approach to creating a new network of healthcare providers for potential Medicare Advantage patients.
The Participating Companies
For the Medicare Advantage event, numerous healthcare entrepreneurs have amassed thousands of millions of dollars.
Hiep Pham, the chief financial manager, and David Firdaus, the chief administrator, are joining Lee in the launch of Clever Care’s services.
The three have a long history of working at various health plans together.
Lee praised the company’s proposition, saying, “We see to have a unique supplemental advantage on the Eastern Medicine side.”
Nevertheless, there is a problem.
The Problems
if the Centers for Medicare and Medicaid Services agree to cover the procedures. Lee affirmed, “All of this depends on CMS authorization.
Prior to today, CMS was aware that some complementary therapies, most notably acupuncture, qualified for coverage. Lee and his team are now hopeful that further permissions will follow.
Lee stated that the problem was particularly severe for the state of California’s ageing immigrant population, who undoubtedly felt uncomfortable using the current healthcare system.
These communities are mostly made up of non-native English speakers whose needs are not being served by the current service providers.
Medicare Advantage now covers around 35% of all Medicare members, according to Norwest general associate Casper de Clerq.
In addition to hiring workers for its two offices in Little Saigon in Orange County and Arcadia in Los Angeles County, the company said it will use the funding to develop its California Medicare Advantage health programme.
