Healthcare treatment comparison tool WiserTogether raised $9 million in a round led by Martin Ventures and Merck Global Health Innovation Fund with participation from WiserTogether CEO Shub Debgupt and existing investors Grotech Ventures, Harbert Venture Partners, 7Wire Ventures, and Blue Heron Capital.
This brings the company's total funding to at least $20 million.
WiserTogether's offering aims to help personalize the decision-making process for patients who want to choose which healthcare treatments they should receive. The platform helps guide and inform the patient on treatment options based on 22 factors, including clinical evidence, personal and popular preferences, cost, and coverage.
For example, if a patient has carpel tunnel syndrome, they have 18 different treatment options, like taking brand-name OTC drugs, changing hand positions for repetitive tasks, using compression and ACE bandages, elevating the injured wrist or hand above the heart, taking generic/store brand OTC drugs, applying heating pads, icing, and modifying activity to avoid pain. WiserTogether helps patients better understand how each of these options differs from the next.
The service covers 250 health conditions, including heart disease, diabetes, musculoskeletal conditions, mental health, and pregnancy, and offers up 4,000 treatments.
The company said its user base has grown year-over-year: In 2010, 150,000 patients used WiserTogether's service; in 2011, 610,000 did; and last year 2.6 million patients used the service. This year, the company has reached 3.5 million patients.
WiserTogether also announced that they signed food and agriculture company J.R. Simplot as a customer.
“We are seeing a growing momentum in the marketplace for this type of transparency and evidence-based treatments as a major component of healthcare decision making,” WiserTogether CEO Shub Debgupta said. “More and more large employers are seeing the value of our approach to better health. By adding Wiser Health to their comprehensive benefit program, they are empowering employees and their family members to make better-informed decisions when facing a health issue.”