Led · Series C · Jun 2022

Abacus Insights offers a comprehensive technology platform that reconciles thousands of unique attributes about individual consumers and their health to enable personalized, interoperable care for payors. The platform supports payor initiatives across value-based care, member engagement, and digital transformation. Today Abacus and its health plan clients manage data for more than 21 million unique members and 15 million consumers. The company says the Series C funds will be used to scale the business, accelerate the capabilities and connections of its technology platform, and add technology talent. The financing brings the Boston-based company’s total venture backing to $81 million. SVB Securities acted as exclusive financial advisor to Abacus Insights. Abacus Insights provides a cloud-based platform that standardizes, curates and enriches healthcare data trapped in legacy silos, combining it with hundreds of third-party sources to create complete, reliable patient records. The platform enables health plans to integrate and share data with doctors, hospitals, pharmacies, labs and digital health applications, helping plans become engines of healthcare innovation. Abacus positions this capability to support use cases from chronic disease management to wearables and wellness apps and to create an “n-of-1” personalized care experience. The company says the funds will be used to scale the business, accelerate platform capabilities and connections, and add technology talent. The announcement ties to recent federal rules outlawing information blocking and highlights demand for secure, shareable health data. The financing brings the under three-year-old Boston-based company’s total venture backing to $53 million. Abacus Insights operates a data management and integration platform tuned for the healthcare industry that aggregates patient medical history from legacy systems into a single place. The company targets large health insurance companies as customers, arguing insurers have the broadest view of a person's healthcare because payment flows through them. Abacus's platform is intended to make it easier for insurers and providers to view real-time patient data and make better care decisions, with the broader goal of lowering costs across the system. The company was launched in 2017 and is led by founder and CEO Dr. Minal Patel. Abacus has offices in Boston and New York and currently employs 40 people. Using proceeds from the round, it plans to roughly double headcount by the end of the year, focusing on adding engineering talent to further build out the product.

Led · Seed · Sep 2013

DocASAP provides a patient access and engagement platform that helps patients and health plan members navigate to the right provider and care setting using online tools and mobile devices. The platform includes provider search and profiles, consumer-facing point-of-care and access-center appointment scheduling, provider data management, and care-driven reminders. It also supports scheduling and creation of telemedicine virtual visits to streamline access. DocASAP has built payer-provider connections and partnerships with leading health systems and payers, driving increased adoption across health plan member portals and apps. Backed by its client base, the company delivered 100% growth in 2019. DocASAP plans to use new funding to expand its payer-provider network, advance matching capabilities, and broaden engagement channels. DocASAP provides online appointment scheduling that intelligently matches patients with optimal care providers across trusted consumer pathways. The platform connects patients, providers, and health insurers to improve patient engagement and care compliance through active engagement and analytics. DocASAP's solution reduces no-shows and drives smarter operational behavior in patient access. The company has partnerships including UnitedHealthcare and Optum and currently manages millions of appointments each year. Established in 2012, DocASAP grew more than sixfold over the past three years. The new growth capital will be used to significantly accelerate the company's national rollout. DocASAP operates an online scheduling platform that helps users book appointments with primary care physicians and specialists, aiming to secure doctor visits within one to five days. It offers a private-label platform for large networks, services for care management, and tools to boost physicians' online profiles and grow practices. The product is available in New York, Pennsylvania and New Jersey through partnerships with MagnaCare, the University of Pennsylvania Health System and Vitals, and the company is developing iPhone and Android apps. DocASAP graduated from Blueprint Health's accelerator earlier this year and was founded in 2009 by CEO Puneet Maheshwari. In a strategic partnership with MultiPlan, the company gained national distribution and seed capital to expand scheduling capabilities, engagement and marketing. MultiPlan led an $800,000 seed round that also included an unnamed New York-based provider; the financing was documented in a Form D filing. DocASAP expects the MultiPlan partnership to begin to bear fruit early next year.