The nation’s remedy modalities for persistent situations are “utterly backwards,” based on HealthSnap CEO Samson Magid. 4 million People age into the Medicare program yearly, and most of them have two or extra persistent situations — leading to billions of {dollars} yearly in preventable healthcare prices — he identified.
This hulking drawback is why Magid helped discovered HealthSnap in 2015. The Miami-based firm helps healthcare suppliers reinvent their strategy to persistent situations administration by way of home-based distant affected person monitoring. On Wednesday, the corporate introduced that it had closed a $25 million Sequence B financing spherical led by Sands Capital.
The spherical brings HealthSnap’s whole funding thus far to $48.5 million. Different traders included Comcast Ventures, Acronym Enterprise Capital, Florida Alternative Fund, Asclepius Progress Capital, Florida Funders, MacDonald Ventures and TGH Ventures.
The corporate’s expertise helps suppliers remotely monitor and handle persistent situations, in addition to seeks to empower sufferers by offering them with larger entry to care and their very own well being information, Magid defined.
“HealthSnap’s distant affected person monitoring and persistent situations administration packages shift the care supply paradigm from one which’s sometimes reactive, episodic and delivered in a bricks-and-mortar clinic to a mannequin that’s proactive, ongoing and intentionally within the dwelling,” he declared.
The corporate’s platform provides suppliers prepared entry to varied workflows they should launch and scale a distant affected person monitoring and persistent situations administration program. It has instruments to handle greater than 100 persistent situations in each major and specialty care, Magid famous.
He additionally identified that the platform can combine into greater than 80 EHRs. Magid stated that this ensures the answer is straightforward to arrange and permits care groups to be armed with actionable affected person information in case they should proactively escalate care between workplace visits.
As soon as sufferers get enrolled in this system, HealthSnap sends pre-configured, cellular-enabled well being units to their properties.
“So if somebody has hypertension, they’ll obtain a blood stress cuff,” Magid defined. “And I at all times use the grandma take a look at — if a grandma can’t use the expertise correctly, then it wouldn’t cross the take a look at. For HealthSnap, all of our units are merely taken out of the field and simply used straight away. The affected person doesn’t want a smartphone, and so they don’t want WiFi.”
Every affected person can be assigned a nurse as their care navigator. On a month-to-month foundation, these care navigators name the affected person to go over their readings, gauge whether or not care must be escalated, schedule preventive appointments and shut any care gaps, Magid added.
HealthSnap’s buyer base includes greater than 150 healthcare organizations, together with UnityPoint Well being, Prisma Well being, Tampa Normal Hospital, Montefiore Medical Heart and Virginia Cardiovascular Specialists. The corporate prices a per-patient per-month payment for its platform.
“With our companies, our companions are producing new income streams for his or her healthcare techniques, with out the necessity to construct these service traces in-house,” Magid remarked.
He added that 25% of all Medicare fee-for-service {dollars} are estimated to transfer to the house by 2025. HealthSnap’s packages generate $300 in reimbursement per affected person per 30 days for its supplier prospects, he stated.
However HealthSnap is actually not the one firm serving to suppliers implement distant affected person monitoring packages into sufferers’ properties — rivals embody Cadence, Optimize Well being and Validic.
Magid believes HealthSnap helps set itself aside by way of its three patents for distant affected person monitoring-specific income cycle automation, in addition to the truth that its platform can combine with dozens of EHRs. He added that HealthSnap is a full-service providing that handles all care administration companies, logistics and transport.
Picture: blackCAT, Getty Photographs
