rater8, a leader in healthcare reputation management and patient feedback solutions, announced the close of a Series A funding round led by Elsewhere Partners. rater8 will use the growth financing to expand its market reach to medical practices and hospitals of all types and sizes. It will continue to build out its team, deepen industry partnerships, and enhance its SaaS solutions to meet the changing needs of patients and the modern healthcare community.
rater8 currently drives unmatched results for thousands of providers (including an average 240% increase in annual reviews) at more than 750 healthcare organizations. And rater8 helps providers build online visibility, manage their reputation, attract more patients, improve patient satisfaction, and enhance operational performance.
Built to serve the healthcare market, rater8 seamlessly integrates with 100+ electronic health record (EHR) and practice management (PM) systems. It focuses on the review sites that matter to healthcare providers, like Google, Healthgrades, Vitals, and WebMD. rater8 delivers comprehensive analytics that breaks down patient feedback by individual providers, specialties, group practices, and facilities, delivering real-time reporting on a full range of patient satisfaction and online review stats and providing an automatic and intelligent load-balancing algorithm to prioritize review sites that need more/newer reviews.
Offering transformational expertise, Elsewhere Operating Partners and Advisors, who have successfully built high-performing teams and evolved platforms for healthcare software businesses at an inflection point, will serve as board members and advisors for rater8. Michele Perry will take on the role of executive chairman along with Robbie Abt and Joel Dolisy, who will join as advisors.
KEY QUOTES:
“rater8 plays a pivotal role in our mission to drive healthcare organizational growth and excellence. rater8’s user-friendly platform, healthcare-specific expertise, responsive customer support, and proven track record of delivering exceptional results make it indispensable.”
– Rachel Uzlik, founder and CEO, Sempara Health
“As the healthcare sector evolves, healthtech innovators are clamoring to carve out their niche in an increasingly crowded space. Many will fail, but those who thrive will transform patient experience and practice management. rater8 has grown into a formidable leader in the patient management evolution – building a solution that addresses core industry pain points, growing an incredibly satisfied customer base and continuously outperforming competitors that simply can’t stack up. The patient feedback market is ready for disruption. We see tremendous opportunity for growth as rater8 further broadens the capabilities of its platform and grows its team to support demand. I have no doubt that the rater8 team will continue to raise the bar for patient feedback solutions and help drive better outcomes for both practices and patients.”
– Michele Perry, operating partner, Elsewhere Partners
“Patient feedback is finally getting the focus it deserves. We’ve designed every aspect of our solutions to help practices understand performance and take the right steps to effectively improve their reputation and raise the standard for patient satisfaction. To best serve both our current customers and meet the demand of the market, we needed an investment partner with a shared vision who would be able to guide our next phase of growth. Elsewhere Partners is providing the capital and the deep ecosystem of advisors needed to help us rapidly, and properly, scale to meet the needs of the healthcare industry.”
– Evan Steele, founder and CEO of rater8
