PatientPing, a US-based care collaboration and e-notifications platform, announced that it has raised $60 million in Series C funding to fuel expansion to new geographies and extend capabilities.
The investment round was co-led by Andreessen Horowitz, F-Prime Capital, GV (formerly Google Ventures), and Transformation Capital. Existing investors also participated in the funding round. Till Now, PatientPing has raised a total funding of over $100 million.
The company said that the Series C financing will fuel the continued expansion of the PatientPing e-notifications network beyond the 1,000+ hospitals, and 5,000+ post-acute care facilities that are currently connected, enabling 135 million patient ADT events for 43 million covered lives.
“While monitoring a patient in the emergency department (ED), I saw a Ping come in that alerted me to quickly connect with the ED case manager as their ED treatment plan needed to consider my care manager’s recent documentation of the patient having falls. As a result, rather than being admitted to the hospital, a discharge plan was developed for a Skilled Nursing Facility (SNF) stay,” explains Aimee Traugh, Health Regional Care Management Director at UnityPoint Health, a network of hospitals, clinics and home care services in Iowa, Illinois and Wisconsin. “If I hadn’t gotten the Ping and been able to reach out, the ED case manager would not have researched the patient’s clinical history until discharge. This reduced the ED visit time, prevented a hospitalization, and expedited the admission to the SNF.”
“Patients often receive care from many providers and when they work together, care is safer and better,” said Jay Desai, PatientPing’s CEO. “PatientPing is committed to delivering the innovative products needed to support every patient and their full care team with real-time awareness into patients’ treatment. With CMS recognizing this need through their CoP, we’re excited to accelerate the growth of our national network that makes it easy for any two or more providers to collaborate anytime a patient is receiving care.”
“It’s been exciting to watch PatientPing steadily expand its geographical reach and technology capabilities to positively impact millions of patients nationwide,” said Julie Yoo, General Partner at Andreessen Horowitz. “Their platform plays such a critical role in the transition of patients between sites of care, and eliminates one of the major blind spots in our fragmented healthcare system by longitudinally tracking a patient’s care journey across all encounters. With the favorable regulatory tailwinds and the need for more resilient care delivery infrastructure coming out of the COVID crisis, PatientPing is well poised to continue leading the market in its quest to achieve better coordination of care.”
Powered by the US’ largest network of Admission, Discharge, Transfer (ADT) data, PatientPing connects thousands of healthcare providers and health plans across the continuum of care.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.