Company’s solutions power next-generation accountable health care systems
ST. LOUIS — July 19, 2011 — Essence Group Holdings Corporation (EGHC) today announced it has raised $61 million in a private funding round that included new investors Camden Partners and Kleiner Perkins Caufield & Byers.
The proceeds represent one of the largest private-sector investments to date in the accountable health care movement.
“EGHC’s blue-chip management team, led by Mike Long, is addressing a large, urgent and unmet market need of national importance in new and innovative ways,” said Christopher Kersey, M.D., managing member of Camden Partners and chairman of Johns Hopkins Medicine International. “We believe this company is emerging as the leading provider of solutions that drive higher-quality, lower-cost health care.”
Kersey, Long and others estimate as much as $1 trillion of health care spending will transition to accountable health care delivery systems over the next 10 years, producing a multibillion-dollar market for the technology and services needed to enable those systems.
EGHC’s solutions, offered through the company’s Lumeris technology and business services subsidiary, include sophisticated software and specialized services that deliver previously unattainable collaboration among health plans, hospitals, physicians and patients.
The company’s services deliver the 22 core competencies of accountable care via a secure, cloud-based technology framework that includes a host of application services in the areas of provider engagement and management, quality and disease management, cost and utilization management, and revenue management. The core of the solution is the company’s Accountable Delivery System Platform (ADSP)®, an evidence-based decision support engine that powers better clinical and business decision-making.
“The power of our solutions are proven daily by health care organizations across the country,” said Joel Andersen, chief marketing officer of Lumeris. “This funding allows us to apply our expertise more broadly to help change how health care is delivered in America.”
Lumeris’ clients include provider groups as well as health plans recognized as leaders committed to accountable care.
“Solving our nation’s health care crisis requires shared accountability with greater coordination and collaboration,” said W. Michael Long, chairman and chief executive officer of EGHC. “Lumeris eases the transition to accountable care through proven tools and processes developed through years of experience running accountable delivery systems, proving that we can have quality health care at a more affordable price.”
Essence Group Holdings Corporation, though its subsidiaries Lumeris and Essence Healthcare, serves the people who consume care, the professionals who provide care and the organizations that manage care. By innovating at the leading edge of collaboration, reimbursement, clinical informatics and information technology, EGHC helps its clients thrive in a new era of value-driven health care.
Lumeris is an accountable care delivery innovation company offering health systems, payers and providers operations, technology and consulting services. Our transformational solutions help health care organizations design, build, operate, measure and optimize any accountable care model to accomplish the Triple Aim Plus One: improved quality, cost, and patient and physician satisfaction. The depth and breadth of Lumeris’ solutions — combined with its extensive experience in accountable care — make the company an ideal partner for any health care organization seeking the benefits of a better connected, aligned and informed accountable delivery system. For more information, call 1.888.586.3747 or go to Lumeris.com.