Waltham, Massachusetts-based PatientKeeper raised $6.25 million in funding last month to expand its portfolio of physician-centered healthcare information systems (HIS) and build out its operations. The funds came from existing investors Flybridge Capital Partners, New Enterprise Associates, Whitney & Co. and others.
PatientKeeper was one of the first HIS software providers to embrace a mobile-centric user experience for its wares.
The company's offerings include computerized physician order entry (CPOE), medication reconciliation, and electronic physician documentation. The company also helps practices transition to the ICD-10 diagnosis coding system. PatientKeeper counts more than 75 hospitals across the US as users of its CPOE product, which launched two years ago. According to the company, some 50,000 physicians in North America and the UK use at least one PatientKeeper app. The company's user base has grown by 79 percent in the past 18 months.
“This funding provides capital to support our growth as we continue to expand our product offerings and our customer base,” Paul Brient, President and CEO of PatientKeeper said in a written statement. “We have built an entirely new approach for physicians to enter orders and take care of patients, which is being embraced by physicians across the country.”
More in the press release below:
PRESS RELEASE: Waltham, Mass. – June 21, 2012 – PatientKeeper® Inc., the leading provider of physician healthcare information systems, today announced that it has raised $6.25 million in financing from several existing investors, including Flybridge Capital Partners, New Enterprise Associates and Whitney & Co.
The funds will be used to expand the company’s professional services and support operations, to meet hospitals’ growing demand for computerized physician order entry (CPOE) and other clinical and financial software applications that address federal Meaningful Use requirements, and systemic healthcare cost and quality pressures.
PatientKeeper launched its CPOE product into the market in 2010, and has since received commitments from more than 75 hospitals to deploy it.
PatientKeeper software is used by 50,000 physicians across North America and the UK. Over the past 18 months, PatientKeeper has grown its physician user base by 79 percent.
Chip Hazard, General Partner at Flybridge Capital Partners and Chairman of the PatientKeeper board of directors, said, “PatientKeeper CPOE is getting an enthusiastic reception in the market, and we’re excited to be part of the company’s continued expansion. The dramatic growth of PatientKeeper’s physician user base is testimony to the quality of the company’s products and the impact they are having on care delivery.”
PatientKeeper’s CPOE, medication reconciliation, and electronic physician documentation applications allow hospitals to meet the federal government’s Meaningful Use requirements and secure federal incentive payments. In addition, PatientKeeper’s charge capture and other financial applications play a key role in helping hospitals and physician practice groups improve revenue cycle management and realize efficiencies as they transition from ICD-9 to the ICD-10 diagnosis coding system.
“This funding provides capital to support our growth as we continue to expand our product offerings and our customer base,” said Paul Brient, President and CEO of PatientKeeper. “We have built an entirely new approach for physicians to enter orders and take care of patients, which is being embraced by physicians across the country.”
PatientKeeper® Inc., the leading provider of physician healthcare information systems, enables physicians and hospitals to focus on their patients, not technology. PatientKeeper provides highly intuitive software for physicians that streamlines workflow to improve productivity and patient care. PatientKeeper’s CPOE, physician documentation, electronic charge capture and other applications run on desktop and laptop computers and popular handheld devices and tablets. PatientKeeper’s software integrates with existing healthcare information systems to create the most effective solution for driving physician adoption of technology, meeting Meaningful Use, and transitioning to ICD-10. For more information about PatientKeeper, which is headquartered near Boston, Mass., visit www.patientkeeper.com or call (781) 373-6100.