Key Highlights
- SafeRide Health announces Series C funding to scale its NEMT technology and services, with Sands Capital leading the investment.
- The funding aims to disrupt the over $10 billion NEMT market, enhancing SafeRide’s national network and advancing AI and self-service tools to improve member experiences for over 120 million individuals enrolled in Medicare Advantage and Medicaid.
- Last year, over one in five adults without access to transportation reported missing necessary medical care, highlighting a significant healthcare gap that SafeRide aims to address.
- The investment involves additional investors like Healthworx, SCAN Group, and others, while Silicon Valley Bank is expanding their existing credit-relationship alongside this equity raise.
- SafeRide Health is dedicated to reducing barriers to care by improving NEMT delivery to people nationwide, serving the country’s largest Medicare Advantage, Medicaid, and provider programs.
Source: Business Wire
Notable Quotes
- “We are the last mile of healthcare. We believe every patient, everywhere, should have access to critical and life-sustaining care…In partnership with the nation’s leading healthcare organizations, we can ensure members can get to the right care, at the right time.” – Robbins Schrader, Co-Founder & CEO of SafeRide Health
- “SafeRide represents the rare combination of both a compassionate and cutting-edge technology provider…Every stakeholder within the NEMT ecosystem gains from their partnership with SafeRide, which continues to improve care in our communities by reducing barriers to transportation.” – Michael Graninger, Managing Partner of Sands Capital
- “SafeRide’s platform meets the needs of CareFirst members on an individual-basis rather than a one-size-fits-all approach…Thoughtfully meeting social needs, like transportation, means members are more likely to engage with their care plan and may achieve better health outcomes.” – Emily Durfee, Director of Corporate Venture Capital at Healthworx
SoH's Take
SafeRide Health’s Series C funding signifies a pivotal moment in addressing the healthcare accessibility gap, particularly within the NEMT sector. With a robust technological platform and a vision to ensure no patient misses vital medical care due to transportation barriers, SafeRide is strategically positioned to enhance its services and technology amidst the evolving healthcare landscape. The investment, led by Sands Capital and involving other healthcare leaders, underscores the criticality and potential of NEMT in enhancing healthcare accessibility, especially for vulnerable populations. SafeRide’s commitment to providing a scalable and intuitive platform for payers and health systems to deliver cost-effective, on-demand transportation is likely to be a game-changer in connecting health plan members to essential healthcare services, thereby potentially reshaping the NEMT market dynamics. This move also reflects a broader trend towards leveraging technology to enhance healthcare accessibility and patient experience, which is pivotal in the current healthcare paradigm.
