ConsultingMD Raises $10 Million From Venrock Capital
ConsultingMD is a startup where patients are connected with medical specialists. ConsultingMD has raised $10 million in fund from Venrock Capital. ConsultingMD previously raised $1 million from Harrison Metal. ConsultingMD lets patients find second opinions from the top doctors and get referrals to specialists near them. ConsultingMD plans to use the funding to further develop their technology and build out their network of doctors.
According to GigaOM, ConsultingMD prides themselves on building a network of physicians that tend to be chiefs or chairmen of the department that have publications in the top medical journals. “The core problem is that in the highly elite world of academic specialists… access to these people is difficult [and] patients don’t know how to find them in the first place,” stated ConsultingMD CEO and co-founder Owen Tripp.
Tripp used to be the COO and co-founder of Reputation.com. ConsultingMD’s other co-founder is Dr. Lawrence Hofman, whom is the chief of interventional radiology at Stanford Hospital.
Patients that visit ConsultingMD can get a second opinion by describing their case and disclosing what they have received. ConsultingMD requires access to a patient’s medical history. ConsultingMD digitizes and indexes medical records and delivers the information to an appropriate specialist on ConsultingMD.
It takes around 7-8 days to aggregate the records, but a doctor can turn around with a second opinion in around 48 hours. A second opinion costs around $3,750. The company hopes to offer this service to employers as a way to help employees get better outcomes so that they can boost productivity and lower costs for them. At an extra $200, ConsultingMD can locate and schedule priority appointments with a top specialist that works near the patient and deliver all necessary medical records.
Doctors are able to interact with top-tier medical professionals. ConsultingMD are admitted into the network based on a peer’s recommendation.