Health IT, Startups

As demand for mhealth tools to unlock data rises, Validic expands management team and secures $1.25M

A mobile health company that wants to make it easier for providers and payers to […]

A mobile health company that wants to make it easier for providers and payers to retrieve patient data from wearables, apps and devices has secured new investment. It received a $1.25 million convertible note from SJF Ventures and angels after raising a seed round last year with notable investors like billionaire Mark Cuban.

About 40 percent of a hospital’s total revenue now comes from outpatient care, according to mobile health company Validic CEO and co-founder Ryan Beckland. He told MedCity News in a phone interview that trend will only grow, which is good news for mobile health companies like his.

It developed an API that offers a way for providers, pharmaceutical and wellness companies and insurers to retrieve data from 86 mobile health devices, wearables and apps. They can use that data to get a better read on their patients and members when they’re not in the doctor’s office.

The company’s platform addresses a couple of healthcare industry trends. It solves the problem of how to access patient and member data in a HIPAA-compliant format to generate valuable insights on their health. It also helps providers and insurers pick which apps they want to offer within their system. It also gives physicians another reason to prescribe apps if they know there’s a simple way to access data from those apps.

“We’re like a screwdriver that can be used for any number of things,” said Beckland. “We provide access to this healthcare data and it’s up to customers how they use that.”

Beckland said the company is using the investment to scale its infrastructure to handle demand. To help with that, it expanded its staff. It added three across business development, marketing and operations. John Turnburke, senior vice president of business development, had worked with MedFusion and then Inuit, which acquired MedFusion. Chris Edwards, senior vice president of marketing, previously worked at Allscripts. Ben Clark, vice president of operations, also had served at Allscripts and Intuit Health.

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