MD Revolution lands $23M for population health management
MD Revolution has completed a $23 million financing round, co-led by Chicago-based Jump Capital and a leading global healthcare technology company. It brings the total raised to more than $30 million.
"We are excited to have world class institutions by our side as we blaze a trail in population health," said Samir Damani, MD, founder and CEO of MD Revolution, in a news release. "For over 5 years we have refined our high-touch patient engagement model for the purpose of extending the reach of providers beyond the four walls of a clinic and demonstrating that value-based care is truly scalable."
MD Revolution's first chronic care management customers enrolled in February 2015 when the first payments were made for the new Medicare Part B CCM code. MD Revolution now serves more than100 practices and plans to add hundreds of additional practices representing several hundred thousand patient users next year, according to Damani. Under new Medicare rules, physicians and other providers are now reimbursed for 20 minutes of non-face-to-face time each month for their patients with chronic diseases.
[See also: What exactly is 'population health,' anyway?]
With RevUp, the MD Revolution's Medicare-compliant patient engagement platform, physician practices can leverage an end-to-end CCM solution with minimal disruption to practice workflow.
RevUp integrates with a practice's EHR to create a patient care plan and make it available securely, anytime, anywhere
Using this care plan, MD Revolution's clinicians act as a trusted extension of the physician to engage patients through earlier detection of health issues, medication compliance, nutrition, and fitness advice.
RevUp's mobile and web interfaces enable constant two-way communication with patients and MD Revolution clinicians. By integrating health information from EHRs, digital sensors, fitness trackers, paper based logs, and telephonic surveys, RevUp coaches are able to provide highly relevant feedback for patients with chronic disease.
"The team at MD Revolution has developed a robust information science platform and delivery system that has exceeded the expectations of their existing customers and is poised for significant expansion," said Garrett Vygantas, MD, Partner at Jump Capital, in a press statement. "It is at this inflection point where Jump Capital partners with our entrepreneurs to drive scale and adoption. MD Revolution squarely fits our focus on working with companies that are seeking to reduce costs and improve care."
Vygantas will be joining MD Revolution's board of directors along with Jackie Kosecoff, the former CEO of $18B Optum Rx, senior advisor at Warburg Pincus, and a board member at athenahealth, an MD Revolution partner.