Memora Health – a leading intelligent care enablement platform – announced a strategic investment of $30 million led by General Catalyst with participation from Northwell Holdings (the venture investment arm of Northwell Health), NorthShore – Edward-Elmhurst Health, PagsGroup, and other strategic investors. This funding round also included follow-on investments from existing investors Andreessen Horowitz, Transformation Capital, and Frist Cressey Ventures.
Healthcare is currently at an inflection point. And care delivery is increasingly shifting out of the four walls of the hospital, and the lack of necessary infrastructure to support this transition is breaking how providers operate. Health systems across the country are struggling under a rapidly growing barrage of patient messages and calls fueled by poorly conceived, first-generation patient experience and clinical workflow tools. Inbound patient messages have increased at a rapid pace over the last few years. And at the same time, providers have been facing an unprecedented shortage of staff. So the healthcare system all but prohibits the high-touch and data-driven care that clinicians truly want for their patients — and their patient’s need.
Memora Health has been building the necessary infrastructure to unlock how healthcare organizations scale and deliver next-generation care. And by digitizing and automating high-touch clinical workflows, Memora offers patients conversational and SMS-based care journeys that adapt to how they communicate. Plus the company’s intelligent care enablement platform streamlines clinical workflows for care teams while also improving patient experience. This reduces the burden on clinicians and makes complex care delivery more proactive and high-touch for patients.
Setting up a care plan can be difficult for patients, especially once they’ve returned home. Whether this is a new mom looking for guidance on latching, a cancer patient trying to understand the side effects of their chemotherapy, or an older adult recovering from knee replacement surgery, Memora’s always-on platform helps patients get answers to their most pressing clinical questions while empowering clinicians to focus on data that is actually clinically relevant — thus automating day-to-day tasks in the EMR that do not require top-of-license clinical expertise. In one example from a health system utilizing Memora’s postpartum care program, more than 32,000 messages were exchanged with Memora’s platform and less than 150 required a manual response from clinical staff.
With partners spanning the healthcare industry – including the leading health systems, health plans, life science companies, and digital health companies — Memora continues to grow at a rapid pace. For the first quarter of 2023 alone, the company named Drs. Toby Cosgrove and David Lubarsky as strategic advisors, and announced partnerships to automate clinical workflows with Virtua Health, the largest health system in South Jersey, and Moffitt Cancer Center, one of the nation’s leading cancer care and research institutions.
KEY QUOTES:
“Memora Health is fundamentally transforming care delivery in our view. Their intelligent care enablement platform has found what we see as a unique balance of empowering care teams to give every patient a high-touch care experience while also keeping patients with complex care journeys engaged and proactive in their care. All of these are critical components of our Health Assurance thesis and we look forward to our collaboration with Memora as they reimagine the care journey for patients alongside a growing number of leading health systems.”
- Chris Bischoff, managing director of General Catalyst
“Health systems have reached a critical juncture in an increasingly competitive and dynamic market. If we want to maintain our position as leaders in care delivery, we need innovative partners that can extend our clinical capacity, keep our patients engaged in their care, and deliver high-quality services to more people. We look forward to collaborating with the Memora team as we leverage novel technology to support our efforts.”
- Michael Dowling, CEO of Northwell Health
“Every clinician wants to hold the hand of their patient as they progress along their care journey and be there to answer questions and address concerns, but care teams are stretched across large patient populations, inundated with messages, and burnt out. Memora Health is tipping the scales, enabling clinicians to deliver the level of care they were trained to provide and helping them rediscover their passion for caregiving — while also unlocking the modern care delivery experience that consumers expect.”
- Manav Sevak, co-founder and CEO of Memora Health
