Devoted Health

Devoted Health is a Waltham, Massachusetts-based healthcare company serving Medicare beneficiaries through an integrated model that combines insurance coverage with direct care delivery. Its Medicare Advantage HMO and PPO plans, some of which are dual-eligible special needs plans contracted with state Medicaid programs, offer benefits such as $0 monthly premiums on some plans, dental, eyewear, routine hearing, over-the-counter and prescription drug coverage, and a Food & Home Card allowance available to chronically ill members meeting plan criteria.

The company describes its offering as built on five components: comprehensive Medicare Advantage plans; full-service Member Service Guides who act as a concierge for benefit and care questions; contracted access to local doctors and hospitals; Devoted Medical, an in-house medical group providing virtual and in-home services alongside a member's primary care provider; and a proprietary software platform, Orinoco, described as supporting payer and provider operations end to end and used to coordinate care and close care gaps. Devoted states that the platform brings together data and AI with clinical and service operations, and that it is designed to expand beyond Medicare Advantage over time.

For providers, Devoted operates a portal accessed through Availity for eligibility and benefits checks, claims status and disputes, and prior authorizations, along with training materials, policy documents and patient-care resources covering Stars quality measures, durable medical equipment, home health, SNP plans and pharmacy services.

Founding story

Devoted Health was founded in 2017 by brothers Todd and Ed Park. Ed Park, co-founder and CEO, was previously chief operating officer of athenahealth; Todd Park, co-founder and executive chairman, previously served as chief technology officer of the United States in the Obama administration. The founders framed the company around the argument that a U.S. system built for infectious disease is poorly suited to today's chronic conditions, producing fragmented and reactive care despite spending more than twice per person than other developed countries.

Business model

Devoted operates as both an insurer and a care provider: it underwrites Medicare Advantage plans under CMS contracts (with D-SNP contracts also held with state Medicaid programs) and delivers clinical services itself through Devoted Medical, while contracting with local physicians and hospitals for network care.

Revenue comes primarily from government-funded Medicare Advantage premiums paid for enrolled members, making the company part insurer and part healthcare provider.

Traction

Membership reached over 466,000 as of January 2026, a 121 percent year-over-year increase, across 29 states, up from over 140,000 members in December 2023 across 299 counties in 13 states. For 2026, three Devoted contracts earned 5 out of 5 CMS Stars, two earned 4.5, five earned 4, eleven earned 3.5 and one earned 3. The company reports 93 percent of surveyed members say they trust Devoted to get them the care they need.

Latest developments

In January 2026 Devoted announced $366 million of equity funding in two tranches and membership above 466,000. In August 2026, Business Insider reported the company was in talks to raise a further round at a valuation of about $25 billion, up from a $16 billion valuation earlier that year; a company spokesperson declined to comment on capital raising activity.