Why we invested in Better Health, a support and supplies platform for people living with chronic conditions
We invested in Better Health because it addresses a critical gap in the healthcare system: the accessibility and management of Durable Medical Equipment (DME). DME plays a vital role for many patients, particularly the elderly population (65+) with chronic health conditions. However, the current system is riddled with problems for people that live with chronic conditions who are dependent on daily medical supplies – bureaucratic hurdles, lengthy approvals, and limited access to support they so critically need.
Better Health tackles these challenges head-on with their tech-enabled platform. Patients across 48 states can conveniently order medical supplies and DME directly through the platform, receive deliveries at home, and access valuable Peer Support. This not only simplifies the process but also empowers patients to better manage their health conditions. Better Health currently serves the populations of over 150 health plans and health systems.
Better Health’s impact extends far beyond its platform. They cater to a wide range of often underserved chronic conditions, from ostomy and wound care to diabetes, incontinence, and chronic retention. Through close collaboration with healthcare payers and providers, Better Health offers a holistic solution encompassing Peer Support, educational resources, and essential medical supplies. This collaborative approach not only boasts a 98% customer satisfaction rating, but also aims to improve patient engagement and adherence to treatment plans, ultimately leading to better health outcomes and reduced overall healthcare costs. With a national footprint and collaborations with prominent payers like Medicare, Medicaid, Cigna, Humana, Florida Blue, and Oscar, Better Health is demonstrably improving chronic disease management across the country.
We were also drawn to the past success and energy of the Better Health founding team. CEO & Co-Founder Naama Stauber Breckler has a passion for impactful healthcare, pivoting from software engineering to healthcare, successfully bringing three medical products to market (CompactCath, MocaCare, and Avails Medical). Co-Founder and Head of Product Adam Breckler’s proven track record in product development gives us confidence in his ability to navigate the complex medical supplies and DME market, especially considering the regulatory landscape.
The timing couldn't be better for Better Health. As traditional healthcare models grapple with challenges and clinicians become an increasingly scarce resource, peer support emerges as an impactful, cost effective and scalable tool for managing chronic conditions. This is further emphasized by the new health equity Stars Rating system for 2024, which prioritizes a seamless DME experience. Better Health’s solution is perfectly positioned to address these converging trends. With a large addressable market, a differentiated approach compared to competitors, and a national footprint serving a significant portion of the healthcare landscape, Better Health is poised to significantly improve not only the DME experience, but also chronic condition management for patients, providers, and payers alike. We are confident in their ability to deliver long-term value.
Lizzy Goldman is an investor at Samsung Next. Samsung Next’s investment strategy is limited to its own views and does not reflect the vision or strategy of any other Samsung business unit, including, but not limited to, Samsung Electronics.