A Note from Chad R. Laboy · Founder, HealthCred Care LLC
Kirill — I genuinely enjoyed our conversation, and I'm glad Diana made the introduction.
You've spent nearly two decades building something remarkable: a network that meets people
at their most vulnerable moment and gives them a real path forward.
What I've built at HealthCred solves a problem you know intimately.
The gap between release from a correctional facility and enrollment in coverage is
where most of your patients fall through. No Medicaid, no insurance, no admission.
HealthCred closes that gap — at the point of release, before they ever need to find you.
Every person we enroll becomes an insured patient, ready for the treatment infrastructure
that companies like Haven were built to provide. This isn't just a financial investment —
it's the upstream piece that was always missing.
I'd be honored to have you as a partner in this. Please review everything here, and let's
talk when you're ready.
Chad R. Laboy
Founder & CEO · HealthCred Care LLC · chad@healthcred.com
The Opportunity — Why This Matters to You
You built Haven's entire intake model around one assumption: the patient has coverage when
they arrive. But 65% of people released from incarceration have no insurance.
That's not a referral problem — it's an enrollment problem. HealthCred solves it.
We partner directly with correctional facilities — county jails, state prisons, federal
detention centers — to enroll incarcerated individuals in Medicaid and ACA marketplace
plans before they're released. By the time they walk out, they're covered.
For behavioral health operators, SUD treatment providers, and reentry services —
this is the warm handoff that has never existed at scale.
Strategic Partner: Equifax VINE — data infrastructure for eligibility + enrollment
Two Revenue Engines
Engine 1 — Call Center (Immediate Cash Flow)
- Outbound agents contact facilities and recently released individuals
- Revenue per conversion: $125–$350 per enrolled person
- 40 agents = ~$200K/week = ~$10M/year
- Starts generating revenue Day 1 of deployment
Engine 2 — PMPM Recurring (Long-Term Compounding)
- Monthly fee per enrolled individual: ~$42.50/person/month
- 40,000 enrolled = ~$20M/year recurring
- Compounds over time — slow to ramp, but the highest-value asset in the model
Financial Projections
| Year |
Agents |
States |
Revenue |
EBITDA |
| Year 1 |
40 |
2–3 |
$9M – $13M |
$2M – $5M |
| Year 2 |
70 |
4–5 |
$20M – $30M |
$8M – $12M |
| Year 3 |
100+ |
7+ |
$40M – $60M |
$15M – $25M |
The $15M vs. $8M argument: "By giving us less money, you're not reducing
your risk — you're reducing your return." The $15M raise enables 40–60 agents across 5+ states.
An $8M raise limits us to 20 agents, 2–3 states, and a $15M–$25M ceiling instead of $60M.
Why Now
- First-mover position: No competitor has built the enrollment layer at scale in correctional settings
- Regulatory tailwind: Medicaid reentry provisions (Section 1115 waivers) are expanding nationally — facilities are actively seeking enrollment partners
- Equifax VINE partnership: Provides real-time incarceration data and release notifications — the core data moat that makes enrollment at scale possible
- Amazon Connect infrastructure: Enterprise-grade call center technology already in place — no build required
- Correctional healthcare = generational returns: Prison telecom, managed care, and healthcare companies in this space have produced some of the highest multiples in healthcare private equity
The Behavioral Health Pipeline
The numbers speak directly to your experience, Kirill. Over 65% of incarcerated individuals
have a substance use disorder. More than half will return to incarceration within 3 years
without treatment. The single biggest barrier to treatment admission isn't capacity —
it's insurance coverage.
HealthCred eliminates that barrier at the source. Every person we enroll in Medicaid
or an ACA plan before release is a patient who can actually walk through the door of a
Haven Detox, an Indiana Center for Recovery, or any other quality treatment provider —
covered, ready, and connected to services.
This is the infrastructure that the behavioral health industry has been missing.
We're not competing with treatment providers — we're feeding them.
