Wesley Chapel, Florida-based care coordination platform CareSync raised $18 million in a round from the Merck Global Health Innovation Fund (Merck GHI), Greycroft Partners, and Harbert Venture Partners, with participation from existing investors Tullis Health Investors, Clearwell Group, CDH Solutions, and CareSync CEO Travis Bond. The company raised $4.25 million around this time last year.
“Our country spends 86 percent of its healthcare budget on treating chronic disease, which we could decrease by getting people on the same page about a patient’s care,” Bond said in a statement. “That’s why we’re leading the mission to simplify the healthcare experience for everyone involved. With this investment, our team is excited to embark on CareSync’s next chapter of growth as we continue to arm patients and providers with the personalized data they need for better outcomes and lower costs.”
Over the next 18 months, the company plans to hire an additional 500 employees. CareSync offers a version of its platform to providers, called CareSync CCM, and another direct to consumer. The company now works with more than 100 provider facilities that care for more than 300,000 chronically ill Medicare beneficiaries.
CareSync’s product, available on the web or on mobile devices, helps caregivers and patients keep track of medical records or medical records for family members.
The service is available in tiered pricing. If patients want to use the platform for medication reminders, appointment planning, health tracking with wearable devices, access for family and friends, as well as task management, the service is free. But if the patient plans to build a one-time health history with summaries from past medical visits and medical records from providers, on top of all the free features, they pay a one-time fee of $129. Last year, the service was priced at $99.
If, on top of these features, the patients want to get access to a CareSync health assistant, which can help with medical appointment scheduling and care coordination, they pay $29 per month, up from $19 last year, or $299 for the year, up from $199. Users who choose the one-time option get a 60-day trial with a CareSync Plus Health Assistant.