Led · Seed · Feb 2020

MedPilot builds a patient financial relationship platform that transforms patient billing through customized outreach tailored to patients’ communication preferences. The platform leverages emails, texts, calls, and statements and uses machine learning to optimize outreach based on patient interactions. It supplies tools for healthcare providers’ billing departments and revenue cycle management companies to track patients, manage experience, and monitor financial activity. MedPilot has helped over 1 million patients to date and reports a 97% patient satisfaction score. The company says it will use new funding to fuel its next stage of growth and continue modernizing the patient billing experience. MedPilot provides a patient financial engagement platform used by outpatient facilities, hospitals, revenue cycle management companies, and practice management systems. The platform combines millions of data points from clients' practice management systems with internally derived insights and analytics to personalize communication method, content, and payment options. Using machine learning, MedPilot continuously optimizes outreach strategies based on patient interactions and also provides administrative tools to track patients, manage experience, and monitor financial activity. The company is led by co-founder and CEO Jacob Myers and COO Nathan Spoden and is based in Cleveland, Ohio. MedPilot graduated in the latest class of the Cedars-Sinai Accelerator. It completed a $1.7M seed funding round to bolster the team and launch new functionality to further engage patients throughout their lifecycle. MedPilot provides a performance-analytics platform that gives healthcare providers insight into the most effective billing and collections outreach by tracking sent rate, open rate, click rate, and response time. The software uses patient demographics, payment history and behavioral-economics data to craft tailored payment-resolution strategies and optimize outreach content. It integrates with providers’ internal billing and collections teams and also collaborates with third-party collectors such as Retrieval Masters Creditors Bureau. The company says it will use new funding to invest in technology, sales and marketing, and to support operational costs. Co-founder Matthew Buder Shapiro has a background in digital marketing and emphasized allocating manual touch where needed and digital approaches where effective. MedPilot participated in Blueprint Health’s accelerator and is based in New York. The company raised $750,000 in a Seed round to support these plans.

Participated · Series B · Dec 2015

WellDoc is a Baltimore, MD–based digital health technology company that develops mobile solutions to drive behavioral and clinical change in chronic disease. Led by CEO Kevin McRaith, the company has commercialized BlueStar, an FDA-cleared, reimbursable digital therapeutic and mobile prescription therapy for adults with type 2 diabetes. BlueStar is designed to fill the support gap between patients and providers when individuals are outside the healthcare system. WellDoc raised an additional $7.5M as an extension of its Series B, bringing the round to $29.5M. Johnson & Johnson Innovation and JJDC participated in the extension as part of a broader collaboration with LifeScan, Inc., a Johnson & Johnson Diabetes Care business. Under the collaboration, WellDoc plans to integrate BlueStar with LifeScan’s OneTouch Verio Flex Bluetooth Smart blood glucose monitor and the OneTouch Reveal mobile app. The partners intend to combine LifeScan’s monitoring systems and mobile app with WellDoc’s data analytics and patient engagement to create a real-time, personalized approach to managing type 2 diabetes. WellDoc commercializes BlueStar®, a prescription mobile therapy cleared by the U.S. FDA for adults with type 2 diabetes. BlueStar is powered by WellDoc’s Automated Expert Analytics System™ and provides real-time motivational, behavioral and educational coaching to enable patient self-management. The therapy requires a prescription from a licensed healthcare provider, can be dispensed by a pharmacy and may be reimbursed by health plans. Led by CEO Kevin McRaith, the company intends to use new funding to continue commercialization and accelerate adoption of BlueStar. The product positioning and regulatory clearance suggest a focus on payer and provider integration to drive uptake. No revenue or user metrics were disclosed in the article. WellDoc is a healthcare behavioral science and technology company whose flagship product is BlueStar, the first FDA-cleared mobile prescription therapy for adults with type 2 diabetes (cleared July 2010). BlueStar requires a prescription, can be dispensed and reimbursed through a pharmacy, and is powered by WellDoc’s proprietary Automated Expert Analytics System. The product delivers real-time motivational, behavioral and educational coaching to help patients self-manage diabetes and provides clinical decision support to healthcare providers to optimize treatment decisions. WellDoc says the new funding will help it launch and commercialize BlueStar on a nationwide basis. The company broadened its capitalization beyond an initial group of angel investors by taking on its first institutional backers. Forbes selected WellDoc as one of "America's Most Promising Companies." WellDoc, founded in 2005 and based in Baltimore, develops the BlueStar diabetes self-management platform and a prescription mobile therapy for Type 2 diabetes. The company put its flagship apps through clinical trials and sought 510(k) clearance, which helped earn physician confidence to prescribe the product. BlueStar is reimbursed by insurance for physician-prescribed use and is being offered to employees at Fortune 500 companies, including Ford Motor Company, Rite Aid, and DexCom. The app includes medication adherence tracking, real-time transmission and storage of blood-glucose levels, patient coaching, and analytics to highlight trends for clinicians. Management says reimbursement has been critical to growth and the company plans to roll out apps for other chronic conditions such as cardiovascular and respiratory care.