Wayspring
Overview
Wayspring is a healthcare organization that specializes in providing comprehensive care for individuals with substance use disorder (SUD) and other behavioral health challenges. Founded in 2012 by Kevin Kirkpatrick and Paul McCurry, the company operates primarily from its headquarters in Nashville, Tennessee. Known for its value-based approach, Wayspring has successfully raised approximately $165 million in funding through various investment rounds. Notable investors include CVS Health Ventures, Centene Corporation, and HLM Venture Partners.
Recent Developments
- October 2024: Wayspring was named a Top Workplace in Nashville for the third consecutive year. This accolade highlights the positive work environment and culture fostered by the company.
- August 2024: Expanding its reach, Wayspring launched a new service expansion in partnership with Wellpoint Tennessee, reflecting a long-standing commitment to improving SUD care.
- July 2024: Wayspring introduced its Substance Use Disorder (SUD) Home Program in Iowa, marking a significant expansion of its services.
- May 21, 2024: The company secured a minority investment from CVS Health Ventures to bolster its innovative care programs.
- March 2024: A new partnership with Aetna Better Health of Kentucky was announced, extending their SUD Home program to better serve individuals in need.
- December 2023: Collaborated with Buckeye Health Plan to address substance use issues in Ohio, promoting comprehensive and community-focused strategies.
- September 2023: Strategic enhancements to Wayspring’s leadership were made with the appointment of Michelle Leonhardt and Alice Heywood, enhancing their capacity to provide holistic SUD care.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2012 |
| Headquarters | Nashville, TN |
| Founders | Kevin Kirkpatrick, Paul McCurry |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | CVS Health Ventures, Centene, HLM Venture Partners |
| Industry | Healthcare, Substance Use Disorder |
| Number of Employees | Approximately 200 |
Early History
Initially known as Axial Healthcare, Wayspring was founded to address the growing challenges faced by those struggling with substance use disorders. The founders, Kevin Kirkpatrick and Paul McCurry, envisioned a healthcare model that integrated medical, behavioral, and social support services. Their unique approach focused on reducing healthcare waste and improving adherence to evidence-based medicine. In its early years, the company attracted significant investment and strategic partnerships that helped lay the foundational infrastructure for its current operations.
Company Profile and Achievements
Wayspring has developed a reputation as an innovator in value-based care specifically targeting substance use disorders. Its comprehensive model involves:
- Strategic Partnerships: Collaborating with healthcare providers, insurers, and community organizations to ensure comprehensive and continuous care.
- Community-Based Support: Utilizing peer support networks that focus on helping patients integrate into community life and maintain recovery.
- Evidence-Based Treatment: Ensuring all medical interventions are grounded in the latest science and research, which improves outcomes and reduces unnecessary healthcare usage.
- Funding and Growth: Raising over $165 million to scale and enhance their service model across multiple states.
Current Operations and Market Position
Wayspring continues to expand its operations by partnering with insurance plans and healthcare providers to integrate its SUD Home programs. These initiatives aim to provide holistic care that addresses physical health, mental health, and socioeconomic factors. Their strategic use of data analytics enhances patient care by identifying at-risk individuals and improving treatment adherence. As an emerging leader in value-based SUD treatment, Wayspring's impact is seen in its ability to reduce hospital admissions and improve patient outcomes across the communities it serves.
Conclusion
Wayspring is successfully positioning itself as a forward-thinking leader in the healthcare industry, specifically in the realm of substance use disorder treatment. Its innovative programs that combine behavioral, medical, and social support services stand as a model for improving care and reducing costs. Looking ahead, the company's commitment to expanding its reach through strategic partnerships and innovative care solutions suggests significant potential for future growth and impact in the behavioral health sector.