New home hospitalization venture lands $3.5M

Startup home health services venture Contessa Health has landed $3.5 million in series A financing, the company announced Wednesday.

Investors included BlueCross BlueShield Venture Partners, Sandbox Advantage Fund and Martin Ventures.

The funding will be used to expand and grow Contessa’s home hospitalization programs, which are built around bundled payment programs. The company combines administrative services and analytics tools to optimize the delivery of higher-acuity care in a home setting.

“Contessa Health’s clinical model truly places the patient at the center of the care delivery universe by enabling clinicians to deliver care in the most appropriate setting,” Travis Messina, Contessa Health co-founder and CEO, said in a release. “By combining our clinical and administrative services with our claims processing and analytics platform, our partners are able to efficiently deploy home hospitalization programs in a bundled payment arrangement.”

Additionally, Charles Martin, chairman and founder of Martin Ventures, was also recently appointed to the company’s board of directors.

“Martin Ventures is committed to investing in organizations that apply integrative approaches to improving care, improving health and reducing the cost of care,” Martin said. “Contessa Health is exactly the type of organization we see as being a positive disruptor in addressing the challenges facing our healthcare industry.”