The Wound Company – a multi-channel on-demand wound and ostomy care delivery company that improves patient outcomes – announced its launch from stealth with $4.25 million in seed funding from Susa Ventures and Sozo Ventures. This funding round will be used to expand the company’s national footprint, hire top talent, and continue improving health outcomes in the most cost-effective way possible while bringing dignity to the over 13 million people in need of improved wound and ostomy care.
The US has been experiencing an amputation epidemic due to diabetic foot ulcers and other serious wounds. And despite medical advancements, Americans are amputating double the number of limbs today than during the Civil War. Around 50% of lower extremity amputations would have been preventable if patients with type 2 diabetes and foot ulcers had access to better healthcare. This issue is one of the problems The Wound Company is solving for. Providers often need more wound care expertise or (due to understaffing) do not have time to offer comprehensive care continuously, leaving patients to figure it out on their own. This leads to wound care patients returning to the hospital due to improper wound care. But this can be prevented.
The Wound Company is aiming to fix the broken space of wound and ostomy care by using predictive analytics and multi-channel communications to deliver the right wound and ostomy care to the right patient in the right channel at the right time. And the tech connects patients and providers to wound and ostomy experts virtually or via in-person visits to ensure they have top-tier care.
This platform also offers clinical reporting, customer data integration, and workflow automation to make care delivery as painless as possible for providers. And while in stealth, The Wound Company has already partnered with health plans, health systems, home care providers, hospice providers, and patients, with significant results to date:
— A potential 15-20% reduction in the total cost of care for wound and ostomy patients for payers
— Up to 50% savings on supplies per patient for home and hospice care providers
— 60% of patients demonstrated progressive healing week after week
— 90% of Stage I/II pressure ulcers resolved without advancing to a higher stage
— 100% of ostomy patients have a predictable pouching system and reduced chance of ER visits or readmissions
KEY QUOTES:
“The wound and ostomy care industry is broken. It’s operating in the fee-for-service world, which pushes expensive procedures and products that help the bottom line, but don’t impact outcomes for the patient. We’re paid to heal wounds with continuous care and, in doing so, save money for health plans and at-risk providers.”
— Nima Ahmadi, founder and CEO of The Wound Company
“The Wound Company’s innovative technologies have the potential to save health plans billions of dollars and transform the patient experience. With a dedicated team of highly experienced experts, a strong vision, and a passion for improving healthcare outcomes, this tech will save lives.”
— Susa Ventures Investor Derick En’Wezoh
“Our blend of virtual and in-person services provided by passionate experts in wound care helps people heal quickly, safely, and with the dignity they deserve while helping to alleviate the pressure on overworked healthcare professionals.”
— Chief Medical Officer Sanford Roberts
