Elation Health snags $40M for primary care platform

The company plans on using the funds to add new capabilities including billing and payment collection.
By Laura Lovett
03:03 pm
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This morning Elation Health, a primary care-focused EHR company, scored $40 million in Series C funding. Generation Investment Management led the round with participation from Threshold Ventures and Kapor Capital. 

This grows on the company’s $15 million Series B found in 2016. 

WHAT IT DOES

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Led by siblings Kyna and Conan Fong, Elation’s business model involves working with primary care practices to get their practice digitized. The service is also able to provide a telehealth component. It can integrate labs, imaging orders and results into the system. 

On the patient facing side, the service is able to send appointment reminders, self-scheduling, intake forms and payment collection. The company boasts that during the pandemic it added new HIPAA-compliant telehealth and more programs for Medicare and Medicaid. 

WHAT IT’S FOR 

The company said it will be using the new funds to add more capabilities. Specifically, it plans on adding new billing, payment collection, and population components. It also plans to beef up its interoperability efforts. 

“We are investing in a future where primary care owns its powerful role in healthcare and every patient has a doctor they trust,” said Kyna Fong, cofounder and CEO of Elation Health. “The challenges of this pandemic have shown the resilience, dedication, and necessity of our independent practices. We’ve also seen an explosion in innovation, enabling our providers to care for patients in new ways, whether virtually or in-person. At a time when healthcare is reawakening to the importance of primary care, we are honored to partner with innovative providers delivering the highest-quality personalized care, at the lowest cost.”

MARKET SNAPSHOT 

The primary care space is getting increasing attention. Several companies are looking to blend telemedicine and primary care. For example, Carbon Health, which blends primary virtual care and in-person visits, scored $28 million in May. 

One of the biggest names in digital primary care is One Medical, which had a hybrid approach to care and went public in January of 2020. 

ON THE RECORD 

“Effective, accessible primary care is critical to creating a more sustainable U.S. healthcare system – one that drives better patient outcomes while bending the cost curve,” Anthony Woolf, partner at Generation Investment Management, said in a statement.

“Elation Health stands out for its focus on delivering a clinical-first experience that providers love, enabling them to prioritize what matters most: spending quality time with patients.”

 

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