Mobile EHR Drchrono targets large practices, lines up $12 million
Mobile EHR drchrono has raised $12 million in new funding in a round led by Runa Capital. Maxfield Capital, Eric Dunn (CEO of Quicken Inc. and Intuit’s first CTO), and FundersClub also participated in the round. The company is raising money in order to be more competitive with larger EHRs and also has plans to build more iOS apps and continue its work with Apple as a mobility partner.
“drchrono is at a pivotal stage in the company’s growth,” cofounder and CEO Michael Nusimow said in a statement. “Our platform is crossing a continuum of care as we expand our customer base from solo practices to midsize and now larger health organizations with an all-in-one EHR, practice management and RCM solution.” Michael goes on to say, ”The support of our investors allows us to expand our successful platform to meet the needs of physicians and practices of all sizes, and across all specialties, and continue to innovate in mobile healthcare technology.”
This is drchrono's first funding round in five years, since a $2.8 million seed round in 2012, shortly after the company's founding.
“drchrono has always been an innovator in mobile healthcare, and has recently made impressive inroads in the enterprise market selling to large healthcare organizations and building revenue cycle management into its platform,” Andre Bliznyuk, Partner at Runa Capital, said in a statement. “As drchrono is poised to be a major EHR player not only with smaller physician practices but with major healthcare organizations, we are excited to invest in the company and help drchrono during its next stage of growth.”
drchrono was one of the first companies to offer an EHR that ran on mobile devices like smartphones and tablets natively. More recently, it has offered its software on the Apple Watch as well. The company also offers a patient-facing check-in app called OnPatient. Through Apple's Mobility Partner Program, drchrono is also integrating with other mobile health companies, such as digital physical therapy company Physitrack, which announced a partnership with drchrono last month.
Legacy EHRs have a huge advantage in marketshare and established relationships, but they're not always beloved by physicians, who often feel the EHR gets in the way of patient care. Apparently, drchrono hopes to leverage that weakness into an advantage.
“If you look at the incumbent EHRs, many of them are practically unusable," Daniel Kivatinos, cofounder and COO of drchrono, said in a statement. "We are developing a healthcare platform that allows physicians to focus on their patients, also enabling a better patient journey. Technology should help doctors to provide patient focused care. We believe healthcare will become increasingly mobile focused, and part of this funding is going towards our mobile initiative to modernize medical records. Our mission is to get the best healthcare enabled technology into the hands of physicians around the world.”