Alongside the launch of its administrative software designed specifically for independent primary care practices, San Francisco-based Canvas Medical has announced that it has raised more than $3 million in total funding with its most recently closed round.
The latest fundraising was led by Upfront Ventures, with participation from iSeed Ventures, Village Global, and other unnamed angel investors.
"There is mounting evidence that independent practices provide the kind of care patients want at a better value than their corporate counterparts," Andrew Hines, cofounder and CEO of Canvas, said in a statement. "Inadequate reimbursement and rising administrative burdens are two of the main reasons a practice may feel they have no choice but to sell out to a hospital system. Having the right technology in place can help practices thrive and remain independent for the benefit of their patients.”
To ease the burden of medical charting and administrative tasks on clinicians, Canvas’ platform easily incorporates an office’s various data and patient information within a single service. Through a document-style user interface, the software uses predictive autocomplete technology to quicken data entry, according to the company, and incorporates these into population health insights and automations housed within a medical record. The company also offers on-site software training, platform launch support, and 24-7 post-launch support.
According to the company, a test comparing Canvas to three leading medical record services found that clinicians could complete their workflows three times more quickly, and with 80 percent fewer clicks.
"It's a difficult task to convince practices to switch medical records," Kevin Zhang, partner at Upfront, said in a statement. "The fact that the team has been able to do it shows how they have built a transformative product and have true customer empathy in their sales process.”