Nashville-based CareBridge recently announced a $140 million funding round led by Oak HC/FT, with participation from four of the nation’s five largest Medicaid managed care organizations (MCOs). This investment values the company at over $1 billion and will accelerate the expansion of its innovative value-based care Medicaid model for patients with physical or intellectual disabilities across the country.
CareBridge specializes in serving full-risk Medicaid and dual-eligible patients who need long-term support services (LTSS). Since mid-2021, the company has grown from supporting approximately 1,100 patients to nearly 19,000. With this new funding, CareBridge aims to operate in 16 states plus the District of Columbia by next year, scaling its approach to value-based care Medicaid and expanding services for individuals with intellectual and developmental disabilities (I/DD).
Technology-Enabled Care to Support Medicaid Patients
At the core of CareBridge’s model is technology-enabled care, including 24/7 clinical support via tablets installed in patients’ homes. This allows high-risk residents to contact clinicians—including physicians, nurse practitioners, social workers, behavioral health specialists, and pharmacists—anytime. This access ensures patients receive the right level of care to reduce hospitalizations and emergency room visits, a key outcome for successful value-based care Medicaid programs.
Brad Smith, executive chairman of CareBridge and former director of the Center for Medicare and Medicaid Innovation, said, “CareBridge is revolutionizing care for individuals on Medicaid receiving home and community-based services. Our 24/7 clinician access helps patients live healthier, more independent lives while remaining at home.” This approach embodies the principles of value-based care Medicaid, emphasizing better outcomes over volume.
Strong Industry Support for CareBridge’s Model
Leading Medicaid MCOs including Anthem, Optum Ventures, CVS Ventures, and HLM Venture Partners on behalf of Centene also participated in the round, demonstrating strong industry confidence in CareBridge’s model. Their backing reflects the growing recognition that value-based care Medicaid programs, supported by data aggregation and clinical decision tools, can improve access and outcomes for this complex patient population.
CareBridge is also building the nation’s largest database for HCBS, which will help refine care plans and further strengthen its value-based care Medicaid efforts. The integration of technology, clinical expertise, and managed care partnerships positions CareBridge to transform Medicaid home- and community-based services nationwide.
A Vision for Nationwide Impact
Mike Tudeen, CEO of CareBridge, noted, “Our rapid growth allows us to impact more individuals and influence the system of care for this deserving population.” As CareBridge expands, its commitment to value-based care Medicaid will continue to reduce unnecessary hospital visits and improve quality of life for Medicaid beneficiaries.
This latest funding round highlights the increasing role of innovative, tech-driven companies in reshaping Medicaid through value-based care Medicaid models that prioritize patient-centered outcomes and efficient use of resources. CareBridge’s success signals a promising future for Medicaid beneficiaries needing long-term support services.
