SAN DIEGO--(BUSINESS WIRE)--MD Revolution, first-to-market with end-to-end chronic care management (CCM) and patient engagement solutions has completed a $23 million financing round, co-led by Chicago-based Jump Capital and a leading global healthcare technology company. This brings their total raised to over $30 million.
“We are excited to have world class institutions by our side as we blaze a trail in population health,” said Samir Damani, MD, MD Revolution’s Founder and CEO. “For over 5 years we have refined our high-touch patient engagement model for the purpose of extending the reach of providers beyond the four walls of a clinic and demonstrating that value-based care is truly scalable. The scientific rigor by which our program has been developed and our new strategic partners will help us maintain CCM market leadership and deliver on our promise of better health for patients across the country.
MD Revolution’s first CCM customers enrolled in February 2015 when the first payments were made for the new Medicare Part B CCM code. MD Revolution now serves over 100 practices and plans to add hundreds of additional practices representing several hundred thousand patient users next year. Under new Medicare rules, physicians and other providers are now reimbursed for 20 minutes of non-face-to-face time each month for their patients with chronic disease. With RevUp, the Medicare compliant patient engagement platform, physician practices can leverage an end-to-end CCM solution with minimal disruption to practice workflow.
RevUp integrates with a practice’s electronic health record (EHR) to create a patient care plan and make it available securely, anytime, anywhere. Using this care plan, MD Revolution’s clinicians act as a trusted extension of the physician to engage patients through earlier detection of health issues, medication compliance, nutrition, and fitness advice. RevUp’s mobile and web interfaces enable constant two-way communication with patients and MD Revolution clinicians. By integrating health information from EHRs, digital sensors, fitness trackers, paper based logs, and telephonic surveys, RevUp coaches are able to provide highly relevant feedback for patients with chronic disease.
“The team at MD Revolution has developed a robust information science platform and delivery system that has exceeded the expectations of their existing customers and is poised for significant expansion. It is at this inflection point where Jump Capital partners with our entrepreneurs to drive scale and adoption. MD Revolution squarely fits our focus on working with companies that are seeking to reduce costs and improve care,” said Garrett Vygantas, MD, Partner at Jump Capital.
Dr. Vygantas will be joining MD Revolution’s board of directors along with Jackie Kosecoff, PhD, who noted, “With over 10,000 people turning 65 every day and over two-thirds of them having at least two chronic diseases, innovative technology enabled service companies like MD Revolution will be essential in reducing the cost of care.” Dr. Kosecoff is the former CEO of $18B Optum Rx and currently is Senior Advisor at Warburg Pincus, and a Board member at Athena health, an MD Revolution partner.
About MD Revolution
Founded in 2011 by Samir Damani, MD, PharmD, FACC, a practicing cardiologist, MD Revolution (MDR) is at the forefront of chronic disease management. Its digital health solution, RevUp, delivers measurable improvements in health by empowering people through highly personalized interactions with certified clinicians. MDR works with physician practices, health systems, and accountable care organizations to deliver highly scalable chronic care management solutions. Visit www.mdrevolution.com for more information.
About Jump Capital
Jump Capital is a Chicago-based venture capital firm specializing in expansion stage and growth capital investments. Through its team of experienced operating executives, Jump Capital provides advocacy and support complemented with institutional-level resources for entrepreneurs. It invests in both start-ups and established companies.