A Philadelphia health IT company that developed a predictive analytics tool to help hospitals get a handle on care coordination to reduce readmissions has raised $4 million to support its national expansion. NewSpring Capital provided the funding and general partner Brian Murphy will join the board.
RightCare Solutions’ platform uses technology developed by University of Pennsylvania’s College of Nursing Associate Professor Kathy Bowles. Its predictive analytics tool assesses patient risk and the patients’ needs when they’re admitted. It maps out an appropriate post-acute care plan and transmits patient information to the post-acute care providers when patients are discharged.
NewSpring’s Health portfolio includes six active companies, mostly biotechnology companies.
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In addition to Murphy, other members include Dennis Podlesak and Jesse Treu from venture firm Domain Associates and Richard Perlman of Compass Partners, as well as Dr. Peter Bach, a physician from Memorial Sloan Kettering Cancer Center.
[Photo credit: Image from the National Center for Policy Analysis’ Healthcare blog]