Practice Fusion provides a cloud-based electronic health record (EHR) platform that connects doctors, patients and data to coordinate care across the U.S. Its product supports over five million patient visits a month and connects with more than 600 partners. The company serves more than 30,000 practices across all 50 states and added over 5,000 new active medical practices in 2015. In 2015 Practice Fusion realized year-over-year revenue growth of more than 70 percent and was on track to meet or exceed key growth targets for 2016. The company plans to use new capital to expand its product suite, grow its data solutions business, and advance interoperability to increase connectivity across the healthcare ecosystem. Practice Fusion is headquartered in San Francisco and was founded in 2005. Practice Fusion builds a widely used electronic health records (EHR) platform and patient-facing services. The company emphasized a mobile push, noting many doctors use iPads and patients use smartphones, and plans consumer-facing tools to launch early next year. Management said it will deploy new capital toward growth and M&A activity, citing a prior acquisition of 100Plus. Practice Fusion recently surpassed 300 employees and facilitated more than 55 million patient visits. Product expansions this year included the Patient Fusion booking and reviews portal, the first generation of its Insight data analytics platform, over 300 lab partners, and imaging and billing APIs. CEO Ryan Howard said the company plans to double in size and become profitable with the new capital. Practice Fusion offers a free EMR platform that enables doctors to prescribe, order labs, document visits, and communicate with providers and patients. Since its founding in 2005 the company has attracted over 100,000 doctors and now manages more than four million patient visits, with visits growing 75% year‑over‑year over the past ~24 months. It has productized its clinical dataset with offerings such as Insight (a subscription research tool) and Patient Fusion (patient reviews and appointment booking), and exposes APIs for developers. Practice Fusion says its de‑identified dataset is the largest realtime clinical dataset in the U.S., and data products have become a significant driver of revenue, with company growth rates up 300% since 2012. Enterprise partnerships include relationships with 18 of the 20 largest pharmaceutical companies and over 300 labs, billing and imaging centers; in September the platform processed more than one million lab transactions and 2.7 million prescriptions. The company plans to expand its team, APIs and data platform further as it pursues a potential IPO. Practice Fusion offers a free, web-based EMR platform (desktop and iPad app) that lets physicians chart data, schedule appointments, e-prescribe, work with labs, and distribute referral letters. It monetizes by allowing labs, pharmacies, and other service providers to pay to advertise within the platform. The company hosts about 40 million patient records and serves roughly 150,000 doctors and medical professionals (up from 25 million records and 130,000 clients seven months earlier). Practice Fusion reported Q1 2012 revenue was comfortably in the seven-figure range, a more than 500% increase versus Q1 2011, and says it has "a lot of cash on hand." Growth priorities include a patient acquisition strategy, building out its app platform, hiring (170 employees now; expecting ~250 by year-end), and attracting more doctors. Leadership has publicly signaled an IPO ambition and is investing in a San Francisco office and employee programs to support rapid expansion. Practice Fusion is a San Francisco-based Electronic Medical Record (EMR) community that offers a free, web-based EMR system for physicians. Its platform includes charting, scheduling, e-prescribing (eRx), lab integrations, referral letters, Meaningful Use certification, support, and a Personal Health Record for patients. Led by CEO and founder Ryan Howard, the company serves an EMR community of more than 130,000 users and 29 million patients. The company raised more than $2M in additional funding from backers including Jed Stremel, Ali Partovi and Hadi Partovi. Practice Fusion intends to use the funding to introduce new free features for physicians and patients and to develop mobile apps for the iPhone and iPad. The company is actively hiring.

Total raised

$150M

Funding rounds

7

Latest round

Series D

Latest activity

Dec 2013