Signallamp Health, a healthcare startup that supports physician practices and health systems by following up with Medicare and dual eligible patients between doctor appointments, has closed a Series A round.
In a phone interview, CEO and Cofounder Drew Kearney said it would use the funding to expand its network of RNs and LPNs from seven to 14 states in the next 12 months.
Sopris Capital led the Series A round for an undisclosed amount with participation from its angel investors, which Kearney declined to name. Sopris has previously invested in health IT companies as well as digital media and other technology companies. Another healthcare business currently in its portfolio is orthopedic device management business TurningPoint Healthcare. The Series A represents the first institutional investment for Signallamp Health since it was founded in 2015.
Kearney described the Scranton, Pennsylvania-based business as an “anti-call center.” The company claims to help its customers generate revenue from new CPT codes, particularly in chronic care management and behavioral healthcare, but with a more personal touch than a call center as well as higher retention rates. The company also helps with transitional care. The nurses Signallamp Health recruits are tasked with “light duty” nursing.
“We are not diagnosing or prescribing drugs to patients but we are working with patients and physicians both to make sure physicians have the accurate information they need” and fulfill physicians’ care plans for their patients, Kearney said.
Also on the company’s to-do list for 2018 is to add more channel partners. Kearney named a couple of them, including Medent EMR, and Clinigence — a data integration service for ACOs.
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.
Other companies that are taking different approaches to nurse recruitment for care management, house calls, and other needs are are RampUp Nursing, Nomad Health, and Go2Nurse.
Photo: Olivier Le Moal, Getty Images
