Digital health prescribing platform Xealth has raised an additional $3 million in Series A financing, bringing the amount raised in this round to $14 million. New investors Atrium Health, Cleveland Clinic, and MemorialCare Innovation Fund join McKesson Ventures, Novartis, Philips, ResMed, Threshold Ventures (formerly DFJ Venture), Providence Ventures, UPMC, and Froedtert and the Medical College of Wisconsin health network.
Investments from this round will be used to advance the development and deployment of the Xealth platform for digital health programs.
Health care organizations need a way to simply and securely manage and drive utilization of digital health tools. Xealth’s platform is embedded in electronic health records, so clinicians can prescribe and monitor digital health content, apps, devices, and services within their charting workflow. Xealth can also deliver these assets to health systems’ existing patient portals to drive engagement and increase adoption. These capabilities, along with the ability to quickly onboard new digital care vendors, enable the delivery and measurement of digital care solutions.
“Fast becoming the preferred digital health formulary, Xealth works with stakeholders across all areas of health care, including providers, payers, pharma, devices, and supply chain,” said Xealth CEO Mike McSherry. “This gives Xealth insight and perspective that advances digital health strategies in a way that optimizes outcomes and assists physician workflows. By investing in Xealth and working with the company to advance their own digital health strategies, Atrium Health, Cleveland Clinic, and MemorialCare are demonstrating their commitment to the patient experience.”
“Patients who are well-informed are generally more engaged in their care, creating deeper partnerships with their providers,” said Peter Rasmussen, M.D., Medical Director of Distance Health at Cleveland Clinic. “Technology can enable us to incorporate digital health tools into clinical workflows, improving overall patient experience. Delivering the right materials to the patient and having analytics to know the information was viewed fits nicely with our goal to deliver access anytime, anywhere.”
Xealth powers more than 30 digital health solutions, connecting patients with educational content, transportation, meal delivery, e-commerce product recommendations, and other services needed to improve health outcomes. Monitoring and analytics capabilities allow health care organizations to determine which digital health strategies are working and how to optimize results.
Read the original press release here.
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