Silverstone Health began as a small hospice provider. Now, it has expanded its services to cover home health care, palliative care and personal care, and has grown its daily census from 17 patients to 2,000.
After CEO Alfonso Montiel purchased and rebranded Comfort Care Hospice in the Dallas-Fort Worth region in 2020, the company began to build out a more complete home-based care continuum.
The company has acquired two home health agencies and a physician group since Montiel took over.
“Even before the first acquisition we were quite deliberate in blueprinting the end solution,” Montiel told Home Health Care News’ sister publication Hospice News. “Every service line, whether acquired or from scratch, we had mapped and anticipated its synchronization within the whole. While divine choreography played its role, we had a well thought plan — an option B and C in case A didn’t work. At Silverstone we are good at planned spontaneity.”
Home health care, palliative care and specialty physician services are already a part of the company’s arsenal. It has also launched a telehealth service dubbed Guided Care+. The personal care operation is expected to launch this month internally.
The company’s annual revenues have increased 15x since its founding in 2020, according to Montiel.
Montiel came to home-based care through a circuitous route.
His career began in the strategic planning field, and after a few years, he moved into the private equity space. Montiel established a $150 million private equity hedge fund, worked in strategy development for Fortune 500 companies and was CEO of the charitable organization Lemon Tree Trust.
There, he found success, but not fulfillment. Seeking change, Montiel journeyed to Iraq to work with refugees. Upon his return to the United States, he caught his first glimpse of hospice when a family member neared the end of life. Inspired by what he saw, Montiel decided to become a hospice volunteer. Here he found his calling, and he leveraged his prior experience in law and finance to launch Silverstone.
Montiel earlier this month was named an Entrepreneur of the Year finalist by Ernst & Young.
“When skeptics questioned our ambition, saying that bigger names had tried and failed, I countered: ‘Our competitors are either too large or too small; true innovation thrives precisely at our scale,’” he said. “While others chase quarterly profits, we prioritize families. As industry outsiders, we bring a fresh perspective. We have unlocked a method of care and access to patients like no other in our space.”
The goal behind Silverstone’s expanded business lines is to provide a seamless, less siloed continuity of care for seriously and terminally ill patients, as well as those who are moving between an acute-care setting and their homes or long term care facilities, Montiel indicated.
Looking ahead, the company plans to explore collaborations with other providers to help reduce fragmentation of care and meet patients where they are, he said.
“Curious about our approach, competitors and investors now reach out directly, and I’ve been fortunate to engage in candid conversations with them about changing our space together,” Montiel said. “Such opportunities will unfold in the coming 12 to 18 months.”
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