CareCar Company Profile

Background

CareCar, founded in 2017 and headquartered in Newport Beach, California, is a health services and technology company specializing in non-emergency medical transportation (NEMT) and in-home supportive care. The company's mission is to enhance healthcare accessibility for vulnerable populations by providing reliable transportation and home care services. CareCar partners with managed care organizations to manage transportation benefits for Medicare and Medicaid beneficiaries, operating primarily in California, North Carolina, and Florida.

Key Strategic Focus

CareCar's strategic focus centers on:

• Non-Emergency Medical Transportation (NEMT): Utilizing a managed marketplace platform to connect patients with qualified drivers, ensuring timely access to medical appointments.

• In-Home Supportive Services: Expanding into senior home care, offering services such as Activities of Daily Living (ADLs), Instrumental Activities of Daily Living (IADLs), home assessments, and modifications.

• Technology Integration: Leveraging real-time data to deliver actionable insights, improving health outcomes and operational efficiency.

• Market Expansion: Aiming to increase its member base from approximately 150,000 to 500,000 covered lives, with plans to onboard 500 additional community-based Care Partners.

Financials and Funding

CareCar has secured multiple funding rounds to support its growth:

• February 2019: Received a $500,000 loan from Mission Driven Finance to expand driver workforce and infrastructure.

• April 2021: Closed a $3 million seed funding round led by Kapor Capital and Impact America Fund, with participation from Concrete Rose. The funds are intended to accelerate growth into new markets, focusing on the senior home care sector.

Technological Platform and Innovation

CareCar's platform distinguishes itself through:

• Managed Marketplace Platform: Efficiently connecting patients with qualified drivers and caregivers based on specific needs and proximity.

• Data-Driven Insights: Capturing real-time data during each encounter to provide actionable insights, aiding payers in achieving better quality metrics and improving health outcomes.

• Care Partner Network: Comprising certified nursing assistants, medical assistants, home health aides, and nursing students, ensuring high-quality care delivery.

Leadership Team

• Joshua Itano: Co-Founder, Chief Executive Officer & President. Prior experience includes roles at Alignment Healthcare, focusing on value-based care and population health.

• Jennifer Gallinger: Co-Founder, Chief Operating Officer & Executive Vice President. Background in healthcare and business operations.

• Nick LaFoy: Chief Product Officer.

• Emily Atkins: Head of Finance.

Competitor Profile

Market Insights and Dynamics

The non-emergency medical transportation (NEMT) market is valued at over $5 billion, with significant growth potential due to the increasing aging population and the expansion of Medicare Advantage plans offering supplemental benefits.

Competitor Analysis

• Uber Health: Provides NEMT services through its rideshare platform, focusing on integrating transportation with healthcare services.

• Lyft Pass for Healthcare: Offers a similar service, partnering with healthcare organizations to facilitate patient transportation.

• Traditional NEMT Brokers: Large logistics and transportation brokers that have been incumbents in the NEMT space.

CareCar differentiates itself by employing trained caregivers as drivers, ensuring a higher level of patient care during transportation.

Strategic Collaborations and Partnerships

• Brand New Day: Partnered in December 2019 to provide unlimited rides to Medicare Advantage members, enhancing healthcare accessibility.

• Humana: Contracted in 2019 to offer NEMT services to members in North Carolina.

Operational Insights

CareCar's competitive advantages include:

• Quality of Care: Employing certified caregivers as drivers ensures a higher standard of service.

• Data Utilization: Leveraging encounter data to provide insights that improve health outcomes and payer metrics.

• Scalability: The platform's design allows for efficient scaling into new markets and service areas.

Strategic Opportunities and Future Directions

CareCar plans to:

• Expand Membership: Increase covered lives from 150,000 to 500,000.

• Enhance Service Offerings: Broaden services to include more in-home care options and address social determinants of health.

• Geographic Growth: Enter new markets to meet the rising demand for NEMT and in-home care services.

Contact Information

• Website: www.carecar.co

Note: Specific contact details such as address, phone number, and email are not provided in this profile.