Successful healthcare providers must continually improve their models of care to keep pace with changing patient needs and technological advancements. To achieve this, many care services companies have brought software developers in-house to help enhance their unique care models.where is that Canvas Medical According to Andrew Hines, founder and CEO of EMR Startup. He founded the company in 2015 as a scalable EMR and practice management system to facilitate more effective clinician-developer collaboration.
Thursday, Canvas improve $24 million in Series B funding. It was led by M13 with participation from Haystack and previous investors Inspired Capital, IA Ventures, Upfront Ventures and Ironrey. The round brings the San Francisco-based company’s total raised to $44 million.
The startup sells its software to care services companies ranging from specialty telehealth startups to home senior care businesses. After five years of development, Canvas release Last fall, its suite of development tools helped these companies manage data and roll out new patient experiences, such as financial engagement or self-scheduling tools.
Hines declined to say how many customers Canvas currently has, but he said the company’s customer base has grown 300 percent since launching the software suite.Customers include Bronze Health, circle, Vivant Health and Isaac Health. He said the customer feedback he’s received confirms that Canvas’ platform can help them avoid building from scratch or making complex retrofits to legacy systems.
“The shared goal is to significantly accelerate the design, implementation and continuous improvement of care models to improve patient health outcomes,” Hines said. “So in a sense, Canvas is designed to solve the problem of modeling care and do it in the same way as a system of record.”
The company will use the funds raised to develop and bring more software features to market, including new security and governance features.
In addition to the funding, the startup also announced that it has become the first federally certified EMR company established in the past two decades. Office of the National Health Information Technology Coordinator (ONC). Canvas achieves this certification because its software is built on a standardized patient data API that complies with the ONC’s forthcoming 21st Century Healing. This milestone is an important one for startups, as providers must use an ONC-certified EMR system to receive incentive payments from Medicare and Medicaid.
“We’ve built a standardized Rapid Healthcare Interoperability Resource API for patient data entirely in-house and are committed to taking it a step further and adding to our support for all U.S. core data interoperability resources,” Hines added.
With ONC accreditation, Canvas customers are now eligible for value-based payment models in Medicare and Medicaid. Hines said the company will work with clients to understand the models and develop implementation plans at a pace and scope that suits them.
That makes the startup even more attractive to care services companies looking to explore these risk-sharing models. Hines said the most important criterion for Canvas to its clients is their commitment to innovation in care models and the role of technology in them. He admits that his company doesn’t fit into the “traditional office practice that seeks to maximize profits on a fee-for-service treadmill”.
Any dynamic EMR or EMR-adjacent software products, such as scheduling tools or order entry tools, could be considered a competitor to Canvas, Hines said.But, he added, customerss Sticking with Canvas is due to its dual contribution to developer tools and care team experience. While many other companies sell API-only developer solutions or fixed workflows, Canvas is looking to “weave developer capabilities into a complete workflow system for the best of the world.”
Photo: Martin Prescott, Getty Images
