Elaborate, a tool used by doctors and their staff to deliver contextualized, actionable lab results to patients, announced today that it has raised $10 million in seed funding. Tusk Venture Partners led the funding round, which included Founder Collective, Company Ventures, Bling Ventures, and Arkitekt Ventures, as well as well-known investors such as Elliot Cohen, Sara Wajnberg, Scott Belsky, and Sean and Peter Glass, MD.
The funding will be used to expand the company’s team and provide a more deeply embedded practitioner experience for select EMRs. Tusk Venture Partners’ Managing Partner and Co-Founder Jordan Nof will join the Board of Directors.
Today, more than 44% of patients receiving routine bloodwork will have at least one out-of-range value, which is not clinically relevant or an immediate cause for concern, but prompts the patient to call or message their practitioner for clarification.
Elaborate, which will be available in 2021, integrates seamlessly with a doctor’s existing electronic medical records (EMRs) to provide patients with personalized and contextualized lab results that provide insights about their health and action items in real-time. Elaborate reduces unnecessary back-and-forth between patient and doctor by providing contextualized health data, while also giving patients more control over their health.
Elaborate’s technology leverages underlying clinical guidelines sourced from reputable sources such as UptoDate and PubMed, as well as a medical advisory board of clinicians with years of experience at institutions such as Mt. Sinai and John Hopkins, to deliver this new patient experience. It also provides clients with the option of incorporating custom protocols to fit their clinical approach. Using Elaborate’s proprietary technology, doctors save an average of 32 minutes per day on administrative tasks, freeing up more time for in-person patient care, education, and diagnosis.