The healthcare space as we know it is undergoing a metamorphosis, particularly in the primary care sector. Recently, medical students have more often gravitated toward careers in specialized branches of healthcare, such as dermatology and orthopedics. In doing so, the stage has been set for nurse practitioners (NPs) to take the spotlight as general care providers. Manhattan Beach-based Greater Good Health is outfitting NPs with the resources they need to thrive in this new era.
NPs, with furthered education and clinical hours, are typically capable of the same things as a primary care physician, from diagnosing conditions to prescribing medications, according to Sylvia Hastanan, Greater Good’s CEO and founder. The company employs a network of NPs and equips them with the training they need to provide value-based care. The company secured $10 million in funding to further its goal of expanding patient access to primary care.
Primary care, as its name entails, is the first level of care people access when it comes to managing health issues or getting preventative treatment. While imperative for people of all ages, this kind of care is growing quickly in necessity amid a lower supply of primary care doctors as the Baby Boomer generation ages into seniority, according to Hastanan.
Having come from a background in nursing, Hastanan spent her career examining strategic initiatives to help improve U.S. healthcare. She developed Greater Good during the pandemic amid continuous news of the widespread issues plaguing the healthcare industry, namely staffing shortages and worker burnout.
“Watching the news and seeing that there was this huge, obvious disparity between people who have access to care and those that don’t, I think that’s just going to worsen as time passes because of the shortage issue,” Hastanan said. “I think that if we’re not thoughtful about investing in the clinicians that take care of our patients, we’re going to be in a lot of hurt. Our focus is really to open up access so that more people get the care that they need.”
Through its Greater Good Health Institute, the company deploys learning modules about lifestyle management, caring for patients with specific conditions, as well as the healthcare industry at large. In addition to professional development tools, Greater Good provides a digital platform to foster camaraderie among members of its network. The company is putting part of its latest round of funding toward broadening its digital solution.
Greater Good is also expanding its presence with plans to grow its network into new states. Currently with a network of 35 NPs, the company operates across northern and southern California. Over the next 18 months, the company plans to expand into about 10 new geographies and bring on an additional 100 NPs, according to Hastanan.
It plans to expand its network into regions such as Washington, Nevada and Arizona, focusing on establishing partnerships with value-based provider groups, hospitals and health plans.
“Value-based care is this idea that medicine and healthcare should be based on the quality of the care that’s provided, not the quantity [of visits],” Hastanan said. “I think that because of [NPs’] upbringing and background and training in nursing, that they’re really well-positioned to play in a value-based care model because it’s so outcomes-focused.”
Greater Good’s funding round was announced alongside a previously raised $3 million seed round, bringing the company’s total funding to $13 million to date.
