Platform for facilitating medical imaging appointments improves patient outcomes, lowers costs, and reduces administrative burden for providers and imaging centers
The additional financing will be used to further accelerate the company’s rapid expansion and platform development. (Credit: National Cancer Institute on Unsplash)
Medical imaging technology company Medmo announced a $9m funding round led by Lerer Hippeau, alongside existing investors Jerusalem Venture Partners (JVP), C2 Ventures and Stone IsraVentures.
In addition, an array of notable angel investors participated, including Elliot Cohen, founder of PillPack (acquired by Amazon), and Klara (acquired by ModMed) Co-founders Simon Bolz and Dr. Simon Lorenz. The additional financing will be used to further accelerate the company’s rapid expansion and platform development.
Medical imaging is a fundamental piece of healthcare, from preventative care to diagnosis to treatment. Yet, the way the market operates is archaic, expensive and difficult to navigate for both patients and providers.
As a result, up to 40 percent of imaging orders are delayed or never completed, leading to worsened patient outcomes, lower quality scores for providers and missed appointments for imaging centers.
Medmo empowers all parties to regain control of the care journey by facilitating the seamless scheduling of imaging exams including MRIs, CTs, Mammograms, Ultrasounds, and X-Rays.
“Medical imaging is especially challenging to coordinate and contains additional layers of complexity for both patients and providers. Providers often lose visibility once a patient leaves the office, while their staff spend time tracking down critical information by phone and fax,” said Lucas Takahashi, co-founder and CEO of Medmo. “Our platform facilitates the process from start to finish, allowing providers to track patient journeys and close the loop on care. This leads to better patient outcomes and less administrative burden on staff.”
Medmo runs seamlessly within existing healthcare systems’ workflows, demonstrating “real world” effectiveness across various healthcare settings. It consistently drives better patient outcomes, closes gaps in care, and reduces overall healthcare costs. The company has expanded nationwide to support a wide variety of clients, ranging from traditional primary care groups to large multi-specialty health systems to virtual health groups.
“Investor capital in healthcare has often focused on high-tech solutions to improve diagnostic assessments, but that approach ignores a crucial first step: connecting patients with accessible care,” said Isabelle Phelps, Partner at Lerer Hippeau. “Medmo removes the cost and logistical barriers to diagnostics, improving imaging order completion rates and subsequent quality of care.”
Medmo.com deploys solutions for patients, providers, and imaging centers, with an emphasis of putting the patient first. By creating the connective tissue across a complex and highly fragmented market, Medmo.com is designed to optimize the efficiency of the entire medical imaging market.
Source: Company Press Release