What You Should Know:
– HealthSnap, a leading provider of remote patient monitoring (RPM) and chronic care management (CCM) solutions, announced today the closing of a $25M Series B funding round by Sands Capital, with participation from new investors Comcast Ventures, Acronym Venture Capital, and Florida Opportunity Fund.
– This latest funding round brings the company’s total funding to $48.5M and positions it for continued growth and innovation in the rapidly expanding RPM and CCM market.
Shifting the Paradigm of Chronic Care
HealthSnap’s RPM and CCM programs offer a proactive, ongoing care model delivered directly to patients’ homes, unlike traditional reactive and episodic care in clinic settings. This personalized approach empowers patients and enables healthcare providers to deliver more efficient and effective care, leading to improved outcomes and lower costs.
Proven Success and Growing Customer Adoption
Over the past 18 months, HealthSnap has experienced exponential growth, driven by the success of its integrated RPM and CCM platform. This comprehensive solution empowers healthcare providers to deliver proactive, continuous care to patients with chronic conditions, leading to:
– Exponential growth: Over 300% increase in patient programs in the past year, driven by positive patient and provider experiences.
– Improved clinical outcomes: Proven results in reducing hospital readmissions and improving management of chronic conditions like hypertension, heart failure, and diabetes.
– Industry recognition: Clinical outcomes data presented at the American Heart Association’s Scientific Sessions and partnerships with leading health systems like UnityPoint Health and Prisma Health.
Strategic Expansion Plans
This infusion of capital will power HealthSnap’s expansion plans across several key areas:
– Building a national clinical team: Attracting top talent to expand their care delivery capabilities and support a growing patient base.
– Enhancing product development: Accelerating innovation to meet the evolving needs of healthcare providers and patients, including the development of AI-powered population health and analytics solutions.
– Scaling partnerships and market reach: Further solidifying their position as a leading RPM and CCM provider by forging new partnerships and expanding existing ones with healthcare systems and physician groups.
“Nearly half of the United States population is living with a chronic condition that requires ongoing monitoring and care beyond the walls of the physician’s clinic. We created HealthSnap to bridge that gap in care and we are pleased that our patient outcomes data demonstrate meaningful improvements,” said Samson Magid, Co-Founder & CEO of HealthSnap. “Our team is focused on a common goal to shift the paradigm of chronic condition management and improve the lives of patients every day, and this new financing enables greater program accessibility for patients across the country.”