Investors' senior care playbook is ever-changing amid the growth and maturation of Medicare Advantage, which is driving the health care industry's broader move and bigger spend toward value-based care.

Driving the news: Capital is flooding into early-stage startups experimenting with various approaches. "The cool thing about value-based care?" General Atlantic managing director Robb Vorhoff says. "There’s hundreds of business models."

Reality check: Scaling remains a challenge for new models looking to shake up the senior care market.

Meanwhile, private equity investors have deep pockets in many traditional home care models that remain predominantly fee-for-service.

Yes, and: Both investors and traditional home health players are leaning into integrated dual-eligible programs like The Program of All-Inclusive Care for the Elderly (PACE), a fully capitated, comprehensive care substitute for nursing home care.

Between the lines: Companies are bringing more offerings under one house.

The other side: Caregivers are also getting more attention.

The bottom line: We're going to see a ton more capital, M&A and company creation focused on rearchitecting senior care.