Adviser Vol. 3 2016 | Page 46

Feature Vital Healthcare Capital Offers Flexible Financing for LTPAC Innovations I n August, executives from Vital Healthcare Capital (V-Cap) and LeadingAge New York met to discuss opportunities to support innovative care models and address the financing needs of long term and post-acute care providers in a transforming delivery system. V-Cap is a new non-profit social impact loan fund set up to support better integrated care for vulnerable populations across the continuum of care and good healthcare jobs for the frontline healthcare workforce. V-Cap is interested in exploring – with LeadingAge New York member organizations – how flexible financing may be needed for key components of the continuum of care, such as expansion of integrated care models including PACE, specialized sub-acute services for low-income communities and filling critical gaps such as geriatric behavioral health and Medicaid assisted living. V-Cap is interested in identifying near term opportunities where it could be a useful financial partner to LeadingAge NY members, as well as longer term capital needs that may require specialized or non-conventional sources of financing. V-Cap’s loan fund currently can provide facilities, business and bridge loans of up to $5 million for organizations and projects serving low-income populations. The fund is structured to provide flexible financing to a changing healthcare system. Facilities loans support the acquisition, V-Cap is a new non-profit social impact construction, renovation loan fund set up to support better integrated or initial start-up costs care for vulnerable populations across the for healthcare facilities. Bridge loans allow continuum of care and good healthcare jobs healthcare providers for the frontline healthcare workforce. to respond rapidly to specific opportunities in their markets, with a clear source of take-out financing, while business loans can be used for working capital; infrastructure, equipment or information systems; or as cash reserves to meet regulatory requirements. V-Cap, launched in conjunction with an investment in a pioneering model of care for Medicare-Medicaid dually eligible individuals, funded in partnership with the Robert Wood Johnson Foundation and is seeking to build on that initial investment in quality care for the most vulnerable. V-Cap CEO Steven Weingarten said, “Developing sustainable and person-centered care for the low-income frail elderly, people with disabilities and other vulnerable populations continues to be among the most important challenges in the changing healthcare system. V-Cap formed to partner with providers to help with flexible financing around both emerging and continuing needs.” For more information about Vital Healthcare Capital, visit www.vitalcap.org. You may also contact Montsine Nshom, co-director of community healthcare investments at [email protected]. 45 Adviser a publication of LeadingAge New York | Fall 2016