Health IT, Hospitals, Startups

Health IT biz to improve care coordination of complex patients raises new capital for engineering, staff

Act.MD CEO Ted Quinn said the $8.4 million raised will be used to support investment in engineering to expand the set of experiences required for complex care management

A health IT company geared to improving the quality of care for patients with multiple chronic conditions coupled with behavioral health issues or social needs has raised a fresh round of capital. Rose Park Advisors led the financing round.

In response to emailed questions, ACT.md CEO Ted Quinn said the $8.4 million raised will be used to support investment in engineering to expand the set of experiences required for complex care management. It would also continue to build out protocols and pathways of care for complex care and chronic care management.

The idea is that by providing a platform in which all members of the patient’s care team can collaborate, it will improve transparency, make handoffs easier, and reduce the risk of errors, Quinn said:

“It is challenging to manage an acute event or multiple chronic conditions but it becomes very complex when it is in concert with a mental health condition, unmet social needs, or functional limitations effecting daily living. These high-needs and complex patients require a team of medical and behavioral health professionals, community resources, and caregiver support to work together,”

ACT.md also plans to expand the clinical team which owns content development (with its partners), deployments, and its care coordination support services.

Additionally, Quinn said it also plans to add staff to its business development team in response to the high volume of market interest, inquiries and to proactively educate the market as healthcare organizations work to navigate the complexities of the evolving healthcare environment.

Asked what milestones ACT.md is working towards, Quinn said it plans to analyze data from earlier implementations with an eye to evaluating efficiency, patient’s perceived health status and quality of life, reduction in cost, appropriate utilization, realization of patient-centered goals, caregiver involvement and satisfaction.

He added that it plans to expand content to include evidenced-based protocols, operational best practices, and newly developed programs and processes specific to the management of high-needs, complex patients.

Shares0
Shares0