- ChartSpan, a Greenville, South Carolina-based healthcare managed service provider for chronic care management, announced it raised $15 million
- BIP Capital led the round. And Blue Heron Capital, Bailey Southwell & Co., C&B Capital, and Service Provider Capital also joined
ChartSpan is a Greenville, South Carolina-based company that is considered the largest healthcare managed service provider for chronic care management programs in the U.S. Recently ChartSpan announced it raised $15 million in funding led by BIP Capital. Blue Heron Capital, Bailey Southwell & Co., C&B Capital, and Service Provider Capital also joined the round.
What does ChartSpan do? The company offers turn-key services for MIPS compliance, Chronic Care Management, and Annual Wellness Visits — which allows both patients and providers to see higher levels of engagement, better adherence for prescribed care paths, and better patient outcomes.
ChartSpan currently manages patient care coordination and value-based programs for more than 100 of the most successful practices and health systems in the U.S.
“This syndicate represents a seasoned group of venture firms who have deep healthcare experience. As we begin to expand our presence outside the Southeastern United States, we know we need partners who can help us scale on a national level and move into the large, enterprise healthcare marketplace,” explained ChartSpan CEO Jon-Michial Carter in a statement. “Most importantly, the firms in this round are a cultural fit. Culture drives our success, and this syndicate group embraces our values and convictions. We couldn’t be more delighted to have such a strong group of investors supporting us.”
With this round of funding, ChartSpan is planning to scale its operations nationally. According to Upstate Business Journal (UBJ), ChartSpan is planning to hire 200 to 300 more people over the next 2-3 years — almost all of them in Greenville. ChartSpan was founded in Houston originally, but then the company shifted over to Greenville in 2013.
Carter told UBJ that there were 61 million Medicare and Medicare Advantage patients last month and that is the audience that the company serves. And according to the Centers for Medicare & Medicaid Services (CMS), about 45 million available patients are eligible for the program that ChartSpan runs. So far, there are 30,000 patients enrolled and counting.
“We continue to focus our attention on solutions that drive meaningful healthcare change,” added BIP Capital Mark Buffington. “ChartSpan’s innovative solutions address the growing burden of chronic care management by reducing cost and improving healthcare outcomes. We are excited to partner with them as they expand their proven solution nationally.”
