Virtual care management platform TimeDoc Health announced Monday that it has raised $48.5 million to grow its workforce and improve the company’s technology capabilities to ease the administrative burden on physicians, support clinical decision-making and assist with care coordination.
The Series B round, led by Aldrich Capital Partners, will help the Chicago-based company expand its hybrid virtual and in-person care model. time file The solution combines a SaaS platform with long-term care management, remote patient monitoring, and care coordination services for behavioral health, integrated into primary care.
The startup, founded in 2015, plans to hire more care coordinators, sales and marketing staff, and technology developers. Overall, about 350 new employees are expected in 2022, CEO Will Boeglin said in an email provided by a representative.
“As a physician-founded company, we’re always looking for ways to use technology to ease the administrative burden on clinicians,” Boeglin said. “We are developing solutions to automate the administrative aspects of care coordination and remote monitoring. Additionally, we are building analytical capabilities to enable our clinicians to make more informed clinical decisions when treating patients with chronic conditions.”
According to the company, the funding will help TimeDoc create full-service solutions for chronic disease management, remote patient monitoring and behavioral health management. The company currently operates in 35 states and expects to expand into other states this year as it looks to bring solutions to more providers and reach more patients.
To help health organizations transition to virtual care management, the startup provides technology and employee support. TimeDoc emphasizes that health organizations can rely entirely on the company’s solution or use it as a complement to their internal care management approach, whichever is preferred. The aim is to provide a solution that meets the needs of their healthcare facility.
“Our flexible technology-plus-service model is one of our key differentiators,” Boeglin said. “We intentionally designed our solution to ensure providers can use their care coordinator, ours, or a mix of the two.”
other companies like Snapshot MD and virtual health A virtual care management platform is also available, enabling healthcare providers to continue to engage with patients beyond the walls of hospitals and clinics and to support care coordination. Increasingly, virtual and in-home care is being delivered to a wider range of medical services, expanding the range of providers and making care more accessible to patients.
For its part, TimeDoc offers a customized mix of human and technical resources, depending on the needs of the health organization.
“We can deploy a pure technology solution for their teams, or as a hybrid solution, teams of both TimeDoc Health affiliated care coordinators and providers can use the platform in what we call a ‘co-sourcing’ model,” Boeglin Say.
Since its inception, the startup has been working on optimizing its tailor-made approach. As a result, Boeglin says that most of its customers continue to rely on TimeDoc to some degree, rather than ultimately trying to do everything in-house.
Photo: elenabs, Getty Images
