Science & Technology

Channels: Science & Technology | Financial Markets | Artificial Intelligence | Blockchain

DrChrono raises $20 million to manage medical clinic booking and billing

[2020.01.13, Mon 13:05] It's the brainchild of Daniel Kivatinos and Michael Nusimow, a Bloomberg and Motorola veteran, who cofounded the startup in 2009 with the goal of developing a clinic management platform optimized for mobile platforms like Apple's iOS. It went onto raise $28.7 million across seed, debt, and series A funding rounds, and to attract tens of thousands and 17.8 million physicians and patients, respectively, who've booked 69 million appointments and processed more than $11 billion in billing combined. In anticipation of growth this year, DrChrono recently raised $20 million in debt financing from Orix Growth Capital, which CEO Kivatinos says will be used to further develop the company's mobile, electronic health record, and medical billing services and to expand its engineering, sales, and support teams. "With our platform and services evolving and maturing, we are in an excellent position to bring the DrChrono platform to larger facilities and specialty practices." DrChrono's solutions suite is designed to be customizable for practices' needs, with built-in functions like free drawing, medical speech-to-text, lab ordering, and e-prescribing. On the practice management side of the equation, DrChrono offers appointment profiles with predetermined time blocks and medical billing codes, and it performs checks of patients' insurance details for deductibles, co-payment, and co-insurance ahead of treatments necessitating pre-approval. There's Luma Health, which last August raised $16 million to build out its family of cloud-based doctor appointment booking products, and LeanTaaS, which in December 2019 nabbed $40 million for its AI-powered clinic operations optimization solution. "After meeting the DrChrono executive team, we were excited about their vision of the future, where healthcare will simply work for physicians and for their patients on a modern platform," said Orlandella in a statement.
Read on >   Google the news >>

<< Back

(c) 2019 Geo Glance