Belong Health, the first company dedicated to partnering with regional payers to deliver Medicare Advantage and Special Needs Plans, officially launched with a Series Seed investment from Maverick Ventures.
Belong Health, the first new business built on the Healthcare Foundry platform, looks to dramatically expand the availability and improve the delivery of healthcare benefits to Medicare-eligible beneficiaries across the country, with a specific focus on special needs populations. Belong Health partners with regional health plans to bring a whole person model of care to patients who need it most, including medical, behavioral health, substance abuse, and social services coordination, along with a built-for-purpose technology platform designed to support the unique needs of clinicians, patients, and health plan teams serving these complex populations.
Belong Health is led by seasoned healthcare executive, Co-Founder, and CEO J. Patrick Foley, formerly President of Cigna's $1.5 billion revenue Medicare Advantage and Special Needs business in the Mid-Atlantic. "We have the opportunity today to completely reimagine how seniors and other Medicare-eligible individuals engage with and experience their healthcare," said Mr. Foley. "I'm honored to be able to lead Belong Health and its partners in our mission to deliver more compassionate, simpler health insurance."
With the closed Series Seed investment from lead investor Maverick Ventures, Belong Health is well positioned to launch its new partnered model. Along with the seed investment, Maverick Ventures Managing Director, Prateesh Maheshwari joins the Belong Health Board of Directors.
"At Maverick, we've long admired the work Healthcare Foundry has been doing in building Built-for-Purpose companies, and we are thrilled to be a partner in this launch," said Maheshwari. "This investment highlights our continued interest in senior health, and our belief that partnership-driven Medicare Advantage and Special Needs Plans offer the best approach to driving change across the Medicare landscape. We think Patrick Foley is an ideal executive to lead the company to achieve its potential."
About Belong Health
Belong Health delivers a more compassionate, straightforward insurance experience for Medicare-eligible members by partnering with regional health plans to help them launch or grow market-leading Medicare Advantage and Special Needs Plans. High-quality health care should be accessible to all, and local, regional health plans are best positioned to serve their communities as their trusted health insurance partners.
About Healthcare Foundry
Healthcare Foundry is a platform for launching Built-for-Purpose, technology-enabled healthcare organizations. We aggregate the leading talent in the market to solve specific problems in healthcare that improve the lives of patients and lead the industry towards a more rational, sustainable, and humane model of care. Learn more at www.foundryhc.com
About Maverick Ventures
Founded in 2015, Maverick Ventures is the venture capital arm of Maverick Capital and is based in San Francisco, California. The firm seeks to invest in the software as a service, technology, healthcare, and consumer sectors. More information is available at www.maverickventures.com
Content originally released as ‘Belong Health Launches to Partner with Regional Payers and Increase the Availability of Medicare Advantage and Special Needs Plans’ on June 14th, 2021