Timedoc Health raises $48.5 million
Company:- The company offers virtual care management solutions to providers overseeing patients with chronic health conditions, working with approximately 120 providers across 35 states.
Problem Space:
- Chicago-based TimeDoc helps the overstretched, overworked primary care physician better manage their chronic care patients in between appointments as per the co-founder and CEO Will Boeglin says.
- Ensuring virtual care programs stick can ultimately contribute to fewer hospitalizations.
- Unlike other care coordinators, TimeDoc works directly with PCPs, and offers a broad array of services, including virtual care.
- The three lines of business are chronic care management, remote patient monitoring, and the integration of behavioral health with primary care.
- TimeDoc collects data from remote monitoring devices into its platform, which pushes the data into an electronic health record (EHR).
- It also staffs more than 150 care coordinators that work with patients, capture social determinants of health and make appointments.
Future Plans:
- Currently operating in 35 states, the company plans to use the capital injection to expand operations and support new hires.
- It will add to its 150 care coordinators today with 20 to 40 new hires a month, along with other new staff, Boeglin says.
- TimeDoc will grow its enterprise customer base by partnering with more traditional health systems, innovative primary care providers (such as those with value-based care-centric models), and accountable care organizations.
- "Our big goal is to be helping 1 million patients a month by end of 2025," the CEO says.Who pays?
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