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Primary care providers are known to manage everyday health needs. A long-term relationship with them can keep people healthier and reduce medical costs. The healthcare landscape is evolving at a faster rate. Moreover, it’s a challenging time to set up an independent primary care practice.
But with little help from a reliable partner, these primary care practices can provide high-quality care to the communities. All they need is someone like Aledade, that can provide personalized, on-the-ground support. Aledade is a population health leader offering a new primary care model, enabling physicians to build strong, impactful relationships with their patients.
This article will guide you on Aledade, its startup story, founders, team, funding, growth, products, investors, and more.
Aledade – Company Highlights
| Company Name | Aledade |
|---|---|
| Headquarters | Bethesda, Maryland, United States |
| Sector | Hospitals and Healthcare |
| Founders | Farzad Mostashari, Mat Kendall |
| Founded In | 2014 |
| Revenue | $1.9 B (2021) |
| Website | Aledade.com |
Aledade – About
Aledade – Founders and Team
Aledade – Startup Story
Aledade – Mission and Vision
Aledade – Business Model
Aledade – Products and Services
Aledade – Challenges Faced
Aledade – Funding and Investors
Aledade – Mergers and Acquisitions
Aledade – Growth
Aledade – Partners
Aledade – Awards and Achievements
Aledade – Competitors
Aledade – Future Plan
Aledade – About
Aledade is a public benefit corporation and the largest network of independent PCP (primary care practice) in the United States. It uses innovative, value-based solutions to help independent practices, clinics, and health centers thrive and deliver better patient care.
Primary care physicians use the company’s proven, scalable model that includes cutting-edge data analytics, health care policy expertise, user-friendly guided workflows, strong payer relationships, and integrated care solutions to keep people healthy and succeed financially.
With over 1,500 practices in 45 states and the District of Columbia, Aledade is responsible for the lives of more than 2 million patients.
Aledade – Founders and Team
Farzad Mostashari and Mat Kendall are the co-founders of Aledade.
Farzad Mostashari
Regarding Farzad Mostashari’s qualifications, he completed an A.B. in Biochem, an MSc in Population Health, and an M.D. in Medicine.
Currently, he is the co-founder and C.E.O. at Aledade. He has also worked as assistant commissioner, deputy national coordinator, and national coordinator for health I.T. in leading organizations.
Mat Kendall
Co-founder and President at Aledade, Mat Kendall graduated with a degree in M.P.H. and a B.A. in History from Haverford College. He has diverse work experience as he held the role of executive director, consultant, director of operations, and director of the office of provider adoption support.
Talking about the company’s team, Aledade is working with more than 1100 employees.
Aledade – Startup Story
Farzad Mostashari very well knew that small, independent primary care physicians had the potential to succeed in the new value-based care policies emerging in Washington, D.C. Dr. Mostashari, as the National Coordinator for Health Information Technology Office’s head with the U.S. Department of H.H.S., directed the development of the I.T. infrastructure designed to minimize costs and improve patient outcomes.
He left Washington in 2014 and launched Aledade with seed funding from Venrock. S.V.B. understood the potential of the company’s business model and commenced its banking relationship in 2014 with a small $2 million growth capital term loan.
In 2022, the company announced that it created more than $800 million in total savings for the healthcare system.
Arbaz Sayed
Aledade – Mission and Vision
The company aims to change and improve the healthcare system.
Aledade – Business Model
Independent PCPs (primary care providers) and community health centers wanting to participate in the Medical Shared Savings Program, government programs, or available commercial contracts join an Aledade accountable care organization (A.C.O.) along with other healthcare professionals in their area.
Instead of owning or managing healthcare providers’ practices, the company is committed to true clinical and operational autonomy for its partners. Aledade provides providers clarity, simplicity, and support while aligning physicians’ incomes with their patients’ outcomes. The company’s SaaS technology provides access to cutting-edge analytics and integrated data insights, including patient worklists for identifying high-priority action items.
Aledade – Business Model
The company offers workflow optimization, A.C.O. governance, policy expertise, contracting support, and the Aledade app.
Aledade – Challenges Faced
Aledade experienced several unknowns, including an unproven, uncharted territory based on new policies, calculation of cost savings once a year, and no guarantee of targeted cost savings for participants.
Aledade – Funding and Investors
Aledade has undertaken 8 funding rounds and has succeeded in raising a total of $417.9 million. Series E Round is the latest funding round and was conducted on June 6, 2022, and raised $123 million. 13 investors back the company with 7 lead ones, and these are OMERS Growth Equity, Fidelity Management, Research Company, Meritech Capital Partners, Mosaic Health Solutions, and Echo Health Ventures.
| Date | Round | Number of Investors | Money Raised | Lead Investor |
|---|---|---|---|---|
| June 6, 2022 | Series E | 2 | $123 million | OMERS Growth Equity |
| January 19, 2021 | Series D | 4 | $100 million | Meritech Capital Partners |
| April 20, 2020 | Series C | 5 | $64 million | OMERS Growth Equity |
| January 19, 2019 | Corporate Round | 2 | $10 million | Echo Health Ventures, Mosaic Health Solutions |
| December 19, 2012 | Series C | 3 | $46.1 million | Biomatics Capital Partners, Venrock |
| March 8, 2017 | Series B | 5 | $40.2 million | Biomatics Capital Partners |
| June 15, 2015 | Series B | 2 | $30 million | ARCH Venture Partners |
| June 18, 2014 | Series A | 1 | $4.5 million | Venrock |
Aledade – Mergers and Acquisitions
The company’s acquisitions include Curia.ai as of February 20, 2023, and Iris Healthcare as of January 11, 2022.
Aledade – Growth
The estimated annual revenue of Aledade is $171 million ($149,712 per employee) in 2022. The company’s current valuation as of 2021 is 1.9 billion. Moreover, its employee count elevated by 54% last year. Moreover, the monthly website visits figure is over 31,000, and its growth rate is 90.46%.
Aledade – Partners
Aledade has partnered with the following:
- Elevance Health
- Green Spring Internal Medicine
- CareFirst BlueCross BlueShield
- Horizon BCBS J.J.
- AFMC
- Humana
Aledade – Awards and Achievements
Aledade has been rewarded with many prestigious awards for its contribution to the healthcare industry, and these are:
- Best And Brightest Companies to Work for in the Nation Winner 2022
- Glassdoor Best Places to Work 2022
- Top Diversity Employer 2022 by Diversity Jobs
- Top Work Places 2022 by Healthcare Industry
- Top Employer 2021 by Diversity Jobs
- Best Tech for Good Winner 2020 Washington DC, Timmy Awards by Tech In Motion
Aledade – Competitors
Some of its main competitors are:
- Motionsoft
- WellDoc
- Get Real Health
- Association for Molecular Pathology
- Precise Telehealth
- OrthoBethesda
- ICmed
Aledade – Future Plan
Aledade plans to expand its State Policy Program, now running in eight states. Along with telehealth, the company is focused on mandated minimum primary care spend.
FAQs
When was Aledade founded?
Aledade was founded in 2014.
Who are the founders of Aledade?
Farzad Mostashari and Mat Kendall founded Aledade.
What does Aledade do?
Aledade is a population health leader offering a new primary care model, enabling physicians to build strong, impactful relationships with their patients.
Who are the main competitors of Aledade?
Some of its main competitors are:
- Motionsoft
- WellDoc
- Get Real Health
- Association for Molecular Pathology
- Precise Telehealth
- OrthoBethesda
- ICmed