New York City-based RubiconMD, which makes a digital consultation platform for physicians and specialists, has announced a $750,000 investment from the California Health Care Foundation Innovation Fund, which supports emerging technologies in healthcare. The company most recently closed a Series A round of financing in which they received around $4 million, and the new investment brings their total funding to date at over $6 million.
Launched in 2013, RubiconMD’s goal is to “democratize” medical expertise by providing a digital messaging platform that connects primary care providers to specialists. The company makes eConsult, which comprises more than 100 specialties and sub-specialities, including hematology/oncology, cardiology and endocrinology. Clinicians use the app on any device and are matched through an algorithm to a specialist, who they can message about a condition and receive educational responses (usually within four hours or less).
The goal is to create a collaborative medicine environment and help primary care providers make more informed patient care plans, and RubiconMD said the investment will provide an opportunity for California Medi-Cal enrollees.
“We believe RubiconMD’s eConsult program will not only improve access to specialty care expertise, but also save patients time, and reduce their travel burden,” RubiconMD’s CEO and cofounder Gil Addo said in a statement.
In parts of California, there is a dearth of specialty care, especially for Medi-Cal (the state’s Medicaid program) recipients. This group is twice as likely to report difficulty in seeing a specialist as those who get insurance through their employer. Medi-Cal enrollees who live in rural regions have even greater challenges.
“CHCF sees great potential in using eConsults and RubiconMD’s approach to improve access to healthcare for consumers in low-income or underserved communities in California,” Carl Bouthillette, Senior Program Officer at the organization.. “eConsults can improve access to critical specialty care, especially in rural areas where there are particular constraints to the supply of specialty care providers.”