PatientPing Announces $9.6M in Funding from Google Ventures, F-Prime Capital, and First Round to Build the First National Care Coordination Network
BOSTON, MA (November 16, 2015) — PatientPing, a company that connects healthcare providers across the country with real-time notifications when patients receive care, announced today that it has raised $9.6M led by Google Ventures and F-Prime Capital (the venture capital funds of FMR LLC, the parent company of Fidelity), with participation from First Round Capital and SV Angel.
Driven by the changing incentives of the Affordable Care Act, providers are compelled to work with one another when they share patients. These new collaborations are bringing together historically disparate and siloed healthcare facilities in regional provider communities that more efficiently deliver high quality care wherever patients go. PatientPing is fueling this transition by providing a critical missing link for providers operating in this new environment: the ability to be notified instantly when a patient is receiving care anywhere – inside or outside of their facility or health system – and the ability to collaborate with providers to ensure the best health outcomes for patients.
Upon joining PatientPing, providers receive “Pings,” real-time notifications, whenever their patients receive care at any facility that is a part of the national PatientPing network. At the facility where patients are getting care, providers receive guidelines that include contact information for others on the patient’s care team, helpful instructions from the care team, and patient visit histories. By sharing this information in real-time, providers can seamlessly coordinate their patient’s care.
Over the past two years, PatientPing has built a powerful network of providers working together across fragmented sites to coordinate care during the most vulnerable moments for patients: care transitions. PatientPing’s growing network includes over 11,000 providers and spans Massachusetts, Connecticut, Michigan, and Pennsylvania, with the number of notifications sent between providers growing 42% every month. The network includes physicians, nurses, case managers, and care coordinators across hospitals, emergency departments, accountable care organizations (ACO), physician practices, skilled nursing facilities, home health agencies, inpatient rehabilitation centers, and payers. For example, ACO care coordinators use PatientPing to work with acute and post-acute care providers that see its patients, and home health agencies use PatientPing to collaborate with local hospitals to manage readmissions.
“Our mission is simple: If two or more providers share a patient, we want them to be able to work together to ensure the highest quality care, and we’ve created a refreshingly simple solution to do that,” said Jay Desai, Co-Founder and CEO of PatientPing. “Pings and guidelines stitch healthcare providers together locally, regionally, and nationally. We’re proud to partner with the country’s best health systems who see the value of embracing highly coordinated patient care wherever patients go – unaffiliated post-acute care facilities, independent community providers, even competing health systems. Furthermore, we are thrilled to be working with this group of experienced investors that see how transformative our work has been and where we can go.”
“Care coordination is incredibly complicated. There is often no way to keep track of where patients receive their care when they are not at the doctor’s office or hospital,” said Krishna Yeshwant, General Partner at Google Ventures. “PatientPing solves this problem by forming a data network for healthcare systems. Their timing is perfect as we figure out how to navigate the new incentives moving through our healthcare system.”
“We all know the frustration of repeating our health histories for ourselves or our loved ones, or having to undergo duplicate tests when seeing our doctor. In times of need, patients should be able to rely on their providers to work together, and providers should feel like they have the tools and information to do so,” said Jon Lim, Partner at F-Prime Capital. “PatientPing is making care coordination possible so that patients and providers alike can focus on what’s important – getting and staying healthy.”
PatientPing is a Boston-based health technology company that is building a national network of engaged providers who are sharing information, coordinating care, and working together to get patients healthier faster. PatientPing connects healthcare providers across the country with real-time notifications and guidelines whenever and wherever their patients receive care. PatientPing’s national care coordination network includes physicians, nurses, case managers, and care coordinators across hospitals, emergency departments, accountable care organizations (ACO), physician practices, skilled nursing facilities, home health agencies, inpatient rehabilitation centers, and payers. By connecting care teams through real-time information sharing, PatientPing enables providers to deliver higher quality and more cost effective care, improving patient outcomes and experience. For more information, please visit www.patientping.com.