Chicago-based Upfront Healthcare Services – which offers a data analytics platform to help large physician practices ascertain how best to schedule and allocate resources – has raised $5.6 million in Series A funding. The round was led by Nashville Capital Network, with contribution from Echo Health Ventures, Hyde Park Venture Partners and Martin Ventures.
Upfront’s iterative platform tackles practice management by assessing how to get the most out of each patient visit. Depending on the patient and practice, that could mean giving patients tools and information to come into their visits more prepared, declining unnecessary referrals, or assigning more patients to nurses practitioners or physician assistants when appropriate. Additionally, Upfront works to make the whole process faster and ensure things like labs and other tests are complete.
“We are in an ambulatory epidemic as patients struggle to get appointments, clinician burnout is real, quality program payments are opaque, and volume is still the measure of success rather than value,” Upfront CEO and cofounder Ben Albert said in a statement. “Our Series A investors are aligned to help make ambulatory medicine work again, and we couldn’t be more excited to have their partnership in the effort.”
Previously, Albert founded population health management platform company Care Team Connect, which was acquired by the Advisory Board Company in late 2013. Under that operation, the Upfront team became familiar with some of the investors who contributed to the latest financing.
“NCN is excited to once again partner with the Upfront management team. Ambulatory medicine is struggling, and Upfront Healthcare’s approach will make the experience better for everyone,” Nashville Capital Network’s Managing Partner Sid Chambless said in a statement. “Based on our experience working with the Upfront team in their previous venture Care Team Connect, we know this group has the vision and operational experience to solve the problems facing Ambulatory medicine. ”