What is HomePlus?
HomePlus Care (HPC), established in 2015 as a Pennsylvania Non-profit Organization, operates as a training and referral site, providing crucial advice and support to immigrants in the Greater Philadelphia Area. The organization has matured significantly, achieving Medicaid certification through the Pennsylvania Department of Health and Human Services (DoH & DHS). This certification enables HPC to offer comprehensive personal care services under various Home and Community Based Services (HCBS) waivers, including those for the Frail Elderly, Physically Disabled, Developmentally Disabled, and Traumatic Brain Injury Waiver. HPC primarily serves individuals at risk of hospitalization or institutionalization, offering assistance with daily living activities such as bathing, grooming, dressing, personal hygiene, and medication reminders.
How much funding has HomePlus raised?
HomePlus has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
Key Investors in HomePlus
PPP
Public-Private Partnership
What's next for HomePlus?
With a strategic focus on improving its financial standing by eliminating debt and increasing cash reserves, HomePlus is concentrating its efforts on its growing and profitable home and community business. The sale of its Home Health Business has positioned the company for future expansion, with plans to broaden its presence in current markets and enter new ones. A critical next step involves adapting to the evolving HCBS industry, particularly the shift towards Managed Care Organizations (MCOs) in 2018. HomePlus must allocate management and financial resources to meet the needs of MCOs as they assume greater responsibility for state-sponsored programs, ensuring the agency remains abreast of industry changes and maintains its competitive edge.
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