A little more than three months ago, Pager’s management team said the business model would change to focus on adding health systems as customers. Now the digital health company has filed documents with the Security and Exchange Commission’s website, indicating the company has raised a little more than $5.2 million with a goal of $6 million, according to a Form D filing.
In June, Andrew Chomer of Pager told MedCity News that it forged a collaboration with Weill Cornell Medicine health systems in a deal with New York Presbyterian Hospital. The agreement gives Pager’s users access to primary care doctors and specialists within the Weill Cornell Medicine system from board-certified physicians and nurses across specialties through its app.
Through Pager’s triage platform, patients are evaluated and if necessary, referred to a Weill Cornell specialist who advise on the next steps for care. During the teleconsult or house call, a Pager doctor may prescribe or advise the patient prior to the individual’s appointment with their specialist.
Chomer said at the time that the company’s goal is to provide a reimbursable service.
House calls are still new territory for the plans but virtual consults are reimbursable through Pager.
“We have generated enough interest and disrupted the market enough to attract the interest of other health systems,” Chomer said earlier this year. Although a direct-to-consumer model was the fastest way to prove Pager’s value proposition, “the next stage is being in-network. By the end of the year we will be reimbursable,” Chomer said.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Update Since this interview, Chomer has left Pager. The new vice president of marketing is Dore Murphy.
Last year, Pager raised $10 million, added Walgreens as a partner and also initiated a collaboration with Evolution Health, a healthcare staffing agency.
Update In response to emailed questions, Pager CEO and Co-founder Gaspard de Dreuzy said this investment, would help expand Pager’s reach far past its current New York City location in partnership with the Envision provider network.
Although building partnerships with healthcare systems and health plans are still important, and the company expects to announce some new ones this Fall, the company is also using the new funding for the development of AI and bot technology.
“Our tech team is using AI to increase efficiency and aid decision making for our triage nurses. This creates more value for our chat functionality and allows us to navigate patients to the best course of care in a more efficient and effective way than ever before,” de Dreuzy said.
Investors in Pager include Lux Capital, Montage Ventures, Goodwater Capital and Summation Health Ventures — a venture fund formed by MemorialCare and Cedars-Sinai health systems.
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