A health IT company that makes care management software for skilled nursing facilities will expand its sales and advance new projects thanks to a new $21 million investment.
Cleveland-based Clinical Outcomes Management Systems (COMS) Interactive secured the investment from growth equity firm Summit Partners.
COMS Interactive markets a software-as-a-service product called Daylight IQ that’s designed to help long-term care facilities create detailed disease profiles of their elderly residents and manage those residents’ healthcare.
It’s built on a library of protocols and procedures for two dozen of the most common diseases and afflictions of residents in long-term care facilities. By allowing for close tracking of changes in residents’ conditions, and alerting staff when it detects patterns that might indicate a need for clinical intervention, the software aims to reduce avoidable hospital readmissions.
In an announcement, COMS said the funds will support expansion of its products into skilled nursing, assisted-living and home care markets across North America. It also plans to “advance its clinical quality assurance and performance improvement initiatives.” A company representative was not available to provide details Tuesday afternoon.
COMS, which was formed in 2009, says it has more than 800 customers in 38 states. It’s also partnered with state healthcare organizations in Ohio, Virginia, Colorado and nine other states. The company says its nursing home and assisted living facility customers have reported a 50 percent reduction in return-to-hospital rates.