MD Insider, a startup that mines health data to produce physician quality scores, has closed a $12 million Series B equity round. It’s the Santa Monica, California-based company’s second big fundraise this year.
Summation Health Ventures, an investment fund started by Cedars-Sinai Health System in Los Angeles and MemorialCare Health System in nearby Fountain Valley, California, led the round. As a results, Cedars CIO Darren Dworkin and Summation Senior Managing Director Brant Heise have joined MD Insider’s board.
Other participants included the four angel investors who took part in Series A: Jason Ader, Bill Ackman, Michael Fertik and Tim Ferriss, MD Insider announced.
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MD Insider CEO David Norris indicated that the company would use the new cash for growth in the provider market and to, in his words, “help to make our solution the standard in the industry.” Norris previously said that MD Insider would hire “hundreds” of people, including sales staff, marketing professional and data scientists, by mid-2017.
The company produces quality scores that it then pairs with a consumer-facing physician search, matching and scheduling services. Customers include health systems, Accountable Care Organizations and employers.
MD Insider said it has, to date, analyzed billions of health records, involving 250 million patients, 850,000 healthcare professionals, 6,000 hospitals and 30,000 medical conditions in producing what the company calls “physician performance transparency” scores.
Image: MD Insider
