COSTA MESA, Calif. — Ziegler has advised CareConnectMD (CCMD), a Costa Mesa-based provider of primary care coordination services tailored to meet the needs of complex Medicare participants, on its $25 million financing round led by Minneapolis-based TT Capital Partners (TTCP).
CareConnectMD will leverage the investment to deepen its presence in California, Ohio and Texas and expand into other markets while enhancing its technology platform to scale and streamline care delivery.
CCMD’s California-based medical group contracts with managed care and insurance plans to provide comprehensive primary and palliative care to high-risk populations in their homes or choice of care environments, such as skilled nursing facilities. The company also partners with other primary care physician groups, enabling them to participate in value-based care programs as a part of CCMD’s high-needs Direct Contracting Entity (DCE).
CCMD is currently one of only eight high-needs DCEs in the country selected by the Centers for Medicare & Medicaid Services (CMS) to participate in the first performance of the Global and Professional Direct Contracting Model (GPDC), recently rebranded by CMS as the Accountable Care Organization Realizing Equity, Access, and Community Health program (ACO REACH).
The DCE model is a financial risk-sharing arrangement developed by CMS to reduce Medicare expenditures while enhancing the quality of care to members. CMS designed the program to help drive the shift to value in Medicare, reduce the administrative burden on providers, and empower beneficiaries to engage in their own healthcare.
“High-needs patients account for only 5 percent of the U.S. population, but 50 percent of the nation’s overall healthcare costs, providing a tremendous opportunity for innovative care models to improve quality, drive savings and enhance the quality of life for the most frail participants,” says Dawn Owens, CEO and partner of TT Capital Partners, who will join CCMD’s board of directors as part of the investment. “CCMD has extensive experience designing successful risk-based care delivery models and delivering care to high-needs seniors.”