ModMed delivers specialty-specific EHRs and a suite of cloud, data, and AI-driven practice solutions, including practice management, revenue cycle management, analytics, patient engagement, payment processing, and marketing products. Its software is used by over 40,000 providers to streamline clinical workflows and improve practice efficiency. The company leverages extensive clinical data sets to design intelligent solutions that simplify, automate, and standardize clinical operations. ModMed plans to use new funding to expand operations and accelerate development efforts. Leadership includes co-CEOs Dan Cane and Joe Harpaz, and Chief Medical and Strategy Officer Dr. Michael Sherling. The article does not disclose revenue or valuation details. Modernizing Medicine builds mobile, cloud-based, specialty-specific EHR software (EMA™) used by thousands of specialty practices nationwide. Founded by Daniel Cane and Dr. Michael Sherling, the company programs products with practicing physicians to meet the unique needs of surgical and medical specialties. Its time-saving features include adaptive learning and automated outputs supported by structured data collection. The firm offers a full suite of products and services including Practice Management, Revenue Cycle Management, Telehealth for dermatology, Analytics and more. Recently the company announced a $231 million equity investment from funds affiliated with Warburg Pincus to provide liquidity, fund further expansion and support strategic initiatives. Planned initiatives include automation of prior authorization workflows, deployment of an eCommerce platform, investment in data exchange and reconciliation, and improving access to care via telemedicine. The company’s specialty EHR systems have been top-ranked by Black Book™ across multiple specialties, which the company cites as evidence of market success. Modernizing Medicine develops EMA, a cloud-based, specialty-specific electronic medical records system built by practicing physicians. EMA is available as a native iPad application and from almost any web-enabled Mac or PC and is ICD-10 ready. The company serves multiple specialties including dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, urology and plastic surgery and is used by over 9,000 providers in the United States and its territories. Modernizing Medicine also offers specialty-specific billing and inventory management and a gastroenterology platform comprised of an EMR, Endoscopy Report Writer, practice management solution, patient portal, data analytics and revenue cycle management. The company has earned four #1 EHR Black Book Rankings for dermatology, orthopedics, otolaryngology and gastroenterology. Financially, it recently closed a $38 million Series E, bringing total capital raised to approximately $87 million. Modernizing Medicine develops the Electronic Medical Assistant (EMA), a cloud-based, specialty-specific EMR available as a native iPad application and via web-enabled Macs and PCs. EMA contains built-in specialty-specific medical knowledge and workflows, a touch-screen interface, and advanced ICD-10 capabilities, allowing charting and coding at the point of care. The company currently serves eight medical specialties and reports more than 4,000 providers have adopted EMA across more than 1,400 physician practices; in dermatology it says over 26% of U.S. dermatologists use EMA. Modernizing Medicine plans to use new funding to continue focused development in the surgical specialties and to commit resources to telemedicine, IBM Watson and mobile applications. The company expects to add approximately 100 new positions in the next 12–18 months and has received recognition such as a Leadership in Health Care Award for its co-founders and placement on Red Herring's Top 100 North America list. The company is headquartered in Boca Raton, Fla. Modernizing Medicine develops EMA™, a cloud-based, specialty-specific electronic medical record system with a large library of built-in medical content. EMA™ is available as a native iPad application or from any web-enabled Mac or PC. The company offers specialty-specific solutions for dermatology, ophthalmology, optometry, orthopedics and plastic and cosmetic surgery. Modernizing Medicine serves more than 1,000 physician practices across the United States. Led by President and CEO Daniel Cane and based in Boca Raton, Florida, the company plans to use new funding to increase its technological staff, further grow in current markets and expand into new areas.

Total raised

$310M

Funding rounds

7

Latest round

Equity

Latest activity

May 2017