West Conshohocken, Pennsylvania-based chronic care app developer CareCam Health Systems received a strategic investment from Independence Blue Cross Center for Health Care Innovation. CareCam has already raised at least $12.4 million to date.
CareCam raised $2.4 million late last year, according to a filing with the SEC in November. Given the timing, it is likely the Independence Blue Cross investment made up all or part of that round, which the filing notes had one investor. We'll update with more information once the company responds to our request for additional details.
Update: CareCam confirmed to MobiHealthNews that the $2.4 million funding in November was from Independence Blue Cross.
Independence Blue Cross launched its Center for Health Care Innovation in February 2014. The Center for Health Care Innovation's initiatives include investing in startups and partnering with universities.
Independence Blue Cross plans to work with CareCam to develop programs that aim to improve the care of people with chronic health conditions. CareCam’s initial rollout with Independence is focused on supporting members with diabetes and asthma.
“While this announcement is focused on our collaboration with Independence Blue Cross, we have been in various stages of conversation with twelve health plans,” CareCam Health CEO Hal F. Rosenbluth said in a statement. “We are currently focused on a successful initial deployment of our software with Independence and are very pleased with Independence’s confidence in CareCam and the benefits we will bring to their members.”
CareCam's chronic care management offering, called vHealth, helps patients record videos of care management activities, like giving themselves a diabetic foot exam or using their glucometer. The service offers a facial detection process to verify that the correct patient is taking the video and performing care activities. All videos are sent to a “flashboard” that providers can use to view the videos and see trends in the patient’s self care.
Conditions that the service is designed to help with include asthma, congestive heart failure, COPD, diabetes, and hypertension. Patients can record themselves taking medication and monitoring biometric readings like blood glucose, blood pressure, or weight.
In return, providers can use vHealth to send patients curated and personalized video content. The videos are designed to help patients understand how to manage their condition and educate patients on the importance of following their care plan. Videos sent to the patient can also identify early indications of disease progression and offer strategies to help patients improve their health.