OutcomeMD has announced that it has completed its funding round with a $3.7 million convertible note from Future Ventures, led by Steve Jurvetson.
OutcomeMD has accelerated the adoption of its outcome management and marketing platform, which improves healthcare while increasing provider earnings.
Jurvetson’s early venture capital investments included Tesla and SpaceX, two pioneering companies that reinvented entire industries. OutcomeMD is a logical extension of his interests in data-driven innovation that improves the world.
To eliminate $1 trillion in waste from the U.S. healthcare system, Harvard Business School professors Michael Porter and Robert Kaplan argue that we must examine costs at a more granular level in which clinical outcomes are matched with business and administrative processes.
OutcomeMD is the first outcome management and marketing system capable of generating consistently high engagement from healthcare professionals and patients across all medical specialties. Patients are given a fitness-tracker-like experience that helps them, and their providers, measure and track how their symptoms change over time as a result of their treatment choices. Aggregating each patient’s scores and symptoms with confounding factor data and EMR data, the OutcomeMD platform provides doctors with real-time data to improve patient care decisions.
OutcomeMD also helps the clinician generate revenue for obtaining good outcomes, and in doing so shifts their treatment focus from patient catering to patient care. Complication rates and overutilization of healthcare resources decrease, and overall efficiency and effectiveness of care improve. The Los Angeles-based company is working with clinicians, health systems, surgical centers, clinics, and hospitals across the United States.
