- Digital healthcare platform optimize.health announced that it closed $3.5 million in a seed round of funding led by Bonfire Ventures
Digital healthcare platform optimize.health announced that it closed $3.5 million in a seed round of funding led by Bonfire Ventures. optimize.health is known for powering provider reimbursements for the new wave of remote patient care. And this round of funding will be used to build out the platform’s capabilities thus allowing for the integration of additional data sources as well as to expand optimize.health’s sales and marketing teams.
Launched in 2019 by experienced digital health entrepreneurs Jeff LeBrun and Chuks Onwuneme, optimize.health makes it easy for healthcare providers to offer patient-centric and reimbursable remote monitoring. And optimize.health’s solutions offer a wide selection of affordable devices — which integrate seamlessly with its easy-to-use technology platform thus empowering patients and providers alike to improve health outcomes and contain costs.
This round of funding comes at a time when the healthcare industry is seeking new ways to engage with and treat patients while simultaneously minimizing in-person visits and protecting individuals from exposure to conditions such as COVID-19. And optimize.health’s solution—combining high-quality monitoring devices with an intuitive and HIPAA-compliant digital platform that allows patients to manage medical conditions from the comfort of their own homes — has subsequently been gaining traction among healthcare providers. So far, the firm has partnered with over 100 independent practices, top-tier research, and university hospitals as well as independent and government-owned medical facilities.
Healthcare organizations have been adopting new payment models that render them accountable for the quality, cost, and outcome of care. And with Medicare spending poised to double through 2029, there is a significant impetus for innovative solutions that drive better health outcomes, reduce hospital readmissions, and limit healthcare expenditures.
Plus remote patient monitoring platforms such as optimize.health play a vital role thus enabling patients to securely monitor and share vital health data as well as engage in two-way video calls and text conversations with their provider. And this limits the need for in-person visits, improving access to care, and augmenting the patient experience. Plus it can also alert the patient’s clinicians to potential health issues at an early stage, enabling them to adjust care recommendations and subsequently preventing exacerbation of symptoms that may lead to hospitalization.
optimize.health has been growing rapidly since 2019 and the company includes employees and advisors whose backgrounds span some of the world’s leading health and technology institutions such as Google, Microsoft, Apple, Facebook, Amazon, Novartis, Duke University, and the Institute for Health Metrics. And the team also includes clinicians (MDs and nurses), software engineers, designers, and data scientists.
“More than ever, healthcare providers and payers are realizing the value of digital health and remote patient monitoring tools as a means of driving cost efficiency, increasing patient engagement, and improving health outcomes. In Bonfire Ventures, we have a forward-looking partner that understands the scope of the opportunity to transform the way that healthcare is delivered. We are delighted to have them on board.”
-optimize.health CEO and co-founder, Jeff LeBrun
“The novel coronavirus pandemic has propelled telemedicine and RPM from the periphery of healthcare to a central component. We believe that optimize.health is at the forefront of a coming healthcare revolution that is set to benefit patients, providers and payers alike. We look forward to working with the team to help them scale and introduce quality remote care to communities across the country.”
-Jim Andelman, co-founder and managing director of Bonfire Ventures