LOS ANGELES, Dec. 6, 2022 /PRNewswire/ -- OutcomeMD announced it has closed its investment round with a $3.7M convertible note from Future Ventures, led by Steve Jurvetson.
The announcement comes as OutcomeMD has accelerated adoption of its outcome management and marketing platform that improves healthcare, while increasing provider earnings.
"OutcomeMD has discovered something that no one else has — by shifting physician revenue models to reward good outcomes, they are poised to reduce healthcare spending and improve the quality of life for everyone," Jurvetson said. "It is an elegant and groundbreaking solution that aligns incentives with efficacy."
Known for investing in pioneering companies that reinvent entire industries, Jurvetson's early VC investments include Tesla and SpaceX. OutcomeMD is a natural extension of his interests in data-driven innovation that changes the world for the better.
To remove $1 trillion of waste from the U.S. healthcare system, Michael Porter and Robert Kaplan of Harvard Business School have argued we need to examine costs at a more granular level at which clinical outcomes are matched with the business and administrative processes.
"We are beyond excited to have Steve's experience and guidance as we position OutcomeMD to positively disrupt healthcare," said Justin Saliman, M.D., CEO of OutcomeMD.
Added OutcomeMD President Hooman Fakki, "With recent releases of carefully planned technology packages, we now have undeniable value propositions for healthcare providers – improved care and significantly increased earnings. Over the next couple of quarters, we have the exciting opportunity to leverage these new feature sets to accelerate adoption and revenue growth at hopefully jaw-dropping rates."
OutcomeMD is the first outcome management and marketing system capable of generating consistently high engagement from healthcare professionals and patients across all medical specialties. Patients are given a fitness-tracker-like experience that helps them, and their providers, measure and track how their symptoms change over time as a result of their treatment choices. Aggregating each patient's scores and symptoms with confounding factor data and EMR data, the OutcomeMD platform provides doctors with real-time data to improve patient care decisions. OutcomeMD also helps the clinician generate revenue for obtaining good outcomes, and in doing so shifts their treatment focus from patient catering to patient care. Complication rates and overutilization of healthcare resources decrease, and overall efficiency and effectiveness of care improve. The Los Angeles-based company is working with clinicians, health systems, surgical centers, clinics, and hospitals across the United States. For more information, visitOutcomeMD.com.