Former Centers for Medicare and Medicaid Innovation Director Brad Smith is joining value-based home and community-based services company CareBridge Health as executive chairman.
Smith served for a year at CMMI under the Trump administration, and in 2021 launched both healthcare venture capital firm Russell Street Ventures and value-based care coordination company Main Street Health to target Medicare patients living in rural areas.
CareBridge takes full risk for members receiving home and community-based services, and includes 24/7 clinical support and and electronic visit verification.
“Some of the most complex and vulnerable patients in the country are the more than 2.5 million individuals receiving home and community-based services,” Smith said in a release. “CareBridge is the most innovative solution I have seen for helping serve this incredibly important population.”
Under his leadership at CMMI, Smith pushed for providers to build value-based payment arrangements built off existing CMMI models, and also said that very few payment models were producing savings and none had led to improvements in quality.
Prior to joining CMMI in Jan. 2020, Smith co-founded and led Nashville-based in-home healthcare services company Aspire Health with former U.S. Sen. Bill Frist, which later sold to insurer Anthem. He also worked for Tennessee’s former Governor Bill Haslam in economic and community development.