Market Research Report

Overview of ilumed

ilumed is a healthcare company founded in 2018, specializing in value-based care using the ACO REACH model. Headquartered at 775 W Indiantown Rd, Suite 4, Jupiter, Florida, ilumed operates within the Hospitals and Health Care industry. The company employs between 51 and 200 individuals and is dedicated to promoting financial sustainability for providers and enhancing healthcare delivery for Medicare beneficiaries throughout the United States. In 2023, ilumed achieved a revenue milestone of $27.1 million with a team of 93 employees.

Unique Value Proposition

ilumed aims to revolutionize healthcare through innovative care delivery methods characterized by:

• Providing high-quality, patient-centered care.

• Increasing health equity and eliminating care disparities.

• Supporting providers with predictable revenue and enhanced patient care.

• Delivering enhanced Medicare benefits at no additional cost to patients.

Its proprietary platform, BrainStream, is an advanced analytics solution offering a 360-degree view of a patient's Medicare claims. This platform helps pinpoint at-risk patients, improves health equity, and identifies key population trends.

Leadership Team

• Ron Kuerbitz: Chief Executive Officer, experienced in Medicare's global-risk management.

• Lisa Dombro: President, specializes in strategic development and partnerships.

• Jorge Rodriguez: Chief Information Officer, expert in IT and business management.

• Frank Richter: Chief Financial Officer, known for restructuring financial strategies.

• Dr. Marri Brackman: Chief Medical Officer, manages healthcare operations and quality.

• Bill Lane: Executive Vice President of Network Development & Global Risk Contracting.

• Kate Vinez: Senior Vice President of Compliance, Risk Management & Government Relations.

• Adina Guthrie: Senior Vice President of Quality, ensuring high standards in services.

• Michelle Nelson: Senior Vice President of Risk Adjustment, focuses on value-based metrics.

• Zach Finnel: Senior Vice President of Business Development.

• Frank H. Eberling IV: Senior Vice President of Legal, Counsel.

• Stephanie Higginbotham: Senior Vice President of Patient Engagement.

• Tonya Kemper: Senior Vice President of Care Management.

• Annette DiPiero: Vice President of Human Resources.

Insights and Trends

ilumed adopts an approach that emphasizes servant leadership and compassionate service as core to its strategy, tackling systemic healthcare issues with value-based models prioritizing patient outcomes. Their emphasis on using data analytics through the BrainStream platform underscores a commitment to an innovative, data-driven healthcare management approach.

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Competitor Profiling

Key Competitors

Ilumed operates in a competitive landscape and faces competition from various organizations:

1. Prime Healthcare Services:

• Founded in 2001, operates 44 hospitals across 14 states with about 45,000 employees. Known for a range of services with accolades in quality and safety.

2. Oak Street Health:

• Acquired by CVS Health in May 2023 for $10.6 billion. Focuses on primary care for Medicare-eligible seniors, operating over 170 centers.

3. Ardent Health Services:

• Based in Nashville, operating since 1993, with multiple acute-care hospitals, generating around $2.3 billion in revenue with 24,000 employees.

4. AlayaCare:

• Offers cloud-based home health care software, enhancing patient care delivery in home settings.

5. SKYGEN USA:

• Utilizes technology for optimizing health benefits and improving health management efficiency.

6. Evolent Health:

• Partners with organizations for value-based care models, aiming at productive patient-doctor engagement.

7. Augmedix:

• Provides documentation services for physicians, improving efficiency and reducing administrative burdens.

Additional Competitors

• Heartland Dental and MB2 Dental Solutions: Provide comprehensive management support in dental care.

• The Chartis Group and Sterigenics: Offer consulting and sterilization solutions, respectively.

• Breathe Life and Ginger.io: Focus on digital and mental health solutions with tech-based approaches.

Strategic Insights

To solidify its market position, ilumed must consider the dynamics and innovations of its competitors. The company’s technology-driven focus aligns with the healthcare sector's trend towards digital transformation, emphasizing AI and data analytics in patient care. Strengthening partnerships with health tech companies or pursuing consolidations can augment their capability and market reach.

Undoubtedly, ilumed navigates a challenging competitive environment that demands continuous adaptation and innovation to maintain its advantage. Their dedication to Medicare beneficiaries and data-driven strategies remain vital assets in this pursuit.