New initiative aims to spur collaboration between entrepreneurs, community health centers

The California HealthCare Foundation (CHCF) and The Kresge Foundation have launched a multimillion-dollar initiative to invest in companies that serve community health centers.

Over the next three years, the Partnering for Impact initiative will invest at least $5 million in several companies that have technology- or service-based solutions that help community health centers and clinics make their resources go further, increase patient access to care and/or lower the cost of providing care, according to a release.

"We look for investments where there's opportunity for impact, where we can help attract capital from other sources, or where we can buffer the risk in piloting new financing structures," said Kimberlee Cornett, director of Kresge's social investment practice.

"Through this initiative we want to identify and invest in companies that bring value to health centers and their patients," said Margaret Laws, director of CHCF's Innovations for the Underserved program, which leads its program-related investments. "We are looking for companies that already serve health centers and are ready to scale, as well as those that are motivated to bring their solutions to underserved markets."

To be eligible for investment, entrepreneurs must be based in the U.S. and demonstrate how their product or service can maintain or improve patient experience while accomplishing one or more of the following goals:

• Enhance health center efficiency by at least 20 percent
• Increase access to highly needed health service(s) for 100,000 patients annually
• Reduce costs by $25 million annually

In addition to receiving funding, selected companies will be paired with community health centers and clinics ready to implement new solutions, along with mentors experienced in community health center management, technology and public payment issues. Grant funding for technical assistance and evaluation may also be available.