Telemedicine is expected to have a 60% annual growth rate between now and 2020, and by 2021 the market is expected to pass $13 billion. Joining us now is Dr. Todd, the chief neurosurgeon at Swedish. First question, why the rise in telemedicine? Three components. there's access, convenience, and cost. Health Express is a way for patients to see a provider when they want, where they want, and on their own terms. So it's convenient for them and low cost.
Technology can help address capacity issues and create connections, not only between doctors and patients, but between patients and social services, or doctors and law enforcement, which mentally-ill patients too often encounter in last-ditch efforts to get care.
“We need better integration with mental-health services,” said Dr. Rhonda Medows, executive vice president of population health at Providence Health & Services in Renton, Wash. “We absolutely know we need to do a better job as a system.”
David Ebersman stepped down last year as chief financial officer of Facebook FB +0.00% to found Lyra Health, a startup that plans to identify employees who are struggling with mental health, intervene to match them with the right healthcare provider, and track outcomes. It focuses on depression, anxiety, and substance abuse.
Figure 1 Inc. has raised $5 million to support the global expansion of its app, which has been called medicine’s answer toInstagram, Lora Kolodny reports for Dow Jones VentureWire. With Figure 1’s HIPAA-compliant app, health-care professionals can share high-quality medical images within their fields of specialty–such as patient photos, brain scans or X-rays–for teaching purposes and to attain feedback from each other about possible diagnoses and treatments. Union Square Ventures, an earlier investor in Figure 1, led the new round, joined by other existing investors including Rho Canada, Version One Ventures and Graph Ventures, as well as Allen & Co. and individual investors.
Lyra Health, a digital health startup co-founded by former Genentech and Facebook CFO Dave Ebersman to improve the patient referral process and care coordination for mental health, has raised a $35 million Series A round, according to a company statement.
MCLEAN, Va.--(BUSINESS WIRE)--Binary Fountain™, the leading provider of health care reputation management and patient experience analytics, announced today that it has closed a $16 million Series A round of financing. The additional funding will allow the company to quickly expand its team and to further develop powerful feature sets. Already deployed across some of the leading hospitals and health systems, Binary Fountain is continuing to build what it believes to be the largest scalable repository of opinion content in healthcare.
Over the past year, Providence Health & Services, a 159-year old not-for-profit Catholic health care provider, has quietly built a sophisticated venture capital arm that could pass as a fund at any large technology company.
Kyruus has large-scale growth in its sights, with plans to hire dozens of employees and take on more real estate space after receiving $25 million in Series C funding.
Kyruus, a leading enterprise software company that helps hospitals optimize patient access and referral management, has raised $25 million in funding to further build its commercial team and support the rapid adoption of its ProviderMatch technology. The new funding round was led by New Leaf Venture Partners, with participation from Providence Health & Services, Leerink Capital Partners, and McKesson Ventures. They were joined by return investors Venrock, Highland Capital Partners, Lux Capital, and Fidelity Biosciences.
Health insurance plans are avidly searching for ways to reduce the cost of medical treatment, such as favoring generic drugs over brand name pharmaceuticals. San Francisco-based digital health company Omada Health approaches the cost problem from a different direction, by trying to prevent serious, chronic diseases from developing in the first place.
Omada Health, which developed an intervention program for obesity-related chronic conditions for employers and health plans, has raised a $48 million Series C round,according to a blog entry on its website. It will use the funding to support continued clinical research and enhance the Prevention program, with an eye to expanding it to include for Medicaid patients in addition to its other customers.
Omada Health, a San Francisco digital health startup that helps employers identify and help employees at risk for chronic diseases, has nabbed $48 million in Series C funding, some of it from existing customers.
Omada Health, which provides a digital program based on the landmark NIH diabetes prevention study, raised $48 million, bringing total funding to $77.5 million. The series C round was led by Norwest Venture Partners, and includes returning investors Andreessen Horowitz and US Venture Partners, among others. Accelerator-turned venture fund Rock Health which nurtured Omada in its first class of digital health startups, also reinvested.
Press release from Providence Health & Services
Providence Health & Services is teaming up with Sqord to help make kids healthier. Sqord combines a kid-proof wearable activity tracker, online games, and a kid-safe social media app designed to encourage kids to spend more time in active, physical play. The partnership will join Sqord's unique platform with Providence's community relationships across five states to help make kids healthier in the communities Providence serves.
Press release from Indemand Interpreting
InDemand Interpreting, a leading provider of Video Remote Interpreting (VRI) and other language services to healthcare, announced that it has raised $4 million in additional equity from private equity firm Health Enterprise Partners and Providence Ventures and $3 million in debt financing from Square One Bank. This money will be used to further fuel InDemand’s rapid expansion and growth.
Laura Baverman, ExitEvent
For some startups, getting funded means follow the money. For Durham-based Sqord, it’s follow the activity, follow the early adoption, follow the excitement…..and the money.
Avia, a startup that helps hospitals find the next big things in health innovation, has lined up new funding, new customers and a new president.
Press release from Providence Health & Services
Providence aims to advance health care delivery through funding technology innovations and building a digital platform to make it easier to collaborate with early-stage companies