![Boulder Care Secures $35 Million to Expand Telehealth Addiction Treatment to Underserved Communities](https://hitconsultant.net/wp-content/uploads/2024/05/boulder-care-logo.jpeg)
What you should know:
– Rock maintenancea leading provider of high-quality addiction treatment, today announced the successful closing of an oversubscribed $35 million Series C funding round led by Advance Venture Partners (AVP)joined by Stripes and existing investors, including Capital of the first round, Qiming Venture PartnersAnd Laerdal Million Lives Fund.
– Boulder Care will invest in developing even more robust services tailored to meet the specific needs of patients in need and plans to deepen its presence in existing markets while strategically expanding into new states.
Leading the Charge in Telehealth Addiction Treatment
Since its founding in 2017, Boulder Care has established itself as a pioneer in telehealth care for addiction treatment. They offer specialized clinical care, peer support and social services – all delivered virtually – to patients nationwide. This innovative approach has reached more than 12,000 people and achieved industry-leading results.
Facing the Untreated Addiction Crisis
The new capital will fuel Boulder Care’s mission to address the growing need for accessible addiction treatment. According to SAMHSA (Substance Abuse and Mental Health Services Administration), approximately 50 million Americans suffer from substance use disorders, but most go untreated. This lack of access leads to devastating personal consequences and significant economic costs.
Focus on Medicaid Populations
Boulder Care specifically targets underserved communities, including those covered by Medicaid. These populations face unique challenges, including poverty, unstable housing, and limited access to resources in rural areas. The Boulder program is specifically designed to overcome these obstacles.
Serving primarily Medicaid members through value-based arrangements, Boulder Care has partnered with numerous health plans to directly tie reimbursement to positive outcomes. This innovative approach has resulted in a staggering reduction in the total cost of care for health plans by more than 70%. Given that Medicaid is the largest payer of behavioral health services in the United States, this achievement holds immense potential for health care reform.
Measurable success and patient satisfaction
Boulder Care prioritizes evidence-based treatment methods, resulting in the best outcomes for patients. Independent research and health plan data consistently validate their success. This includes:
- Retention rates in buprenorphine treatment exceeding three times the national benchmark.
- Measurable reductions in adverse outcomes such as inpatient admissions, hospitalizations and emergency room visits.
- 97% of patients report progress in their recovery.
Measurable success: high retention rates, reduced costs
Boulder Care's commitment to quality care is reflected in their impressive results, rigorously validated by independent research. Their patients demonstrate:
- High retention rates: Retention in buprenorphine treatment exceeds the National Committee for Quality Assurance (NCQA) benchmark by more than three times.
- Reduced unwanted results: Significant reductions in adverse outcomes such as inpatient admissions, hospitalizations and emergency room visits were observed.
- Improved recovery rates: Patients report a healing progression rate of 97%.