EpicMD to fund telehealth for 1,000 physician practices
February 28, 2018
US telehealth provider EpicMD will sponsor the implementation of virtual care in a thousand physician family practices across the United States. The company has set aside $6 million in funding to pay for the implementation.
The Miami, Florida based company has launched a nationwide contest for physician practices to be among the thousand selected for implementation of the telehealth system. EpicMD says that its sponsorship will save a typical physician practice tens of thousands of dollars in upfront costs.
The company says the scale of capital costs associated with telehealth currently prevents small and medium sized physician practices in the United States from adopting the technology.
“EpicMD is on a mission to provide the perfect solution for physicians, with a singular focus on improving the most important part of the healthcare experience, the Doctor-Patient relationship,” said EpicMD chief executive Matt Wanderer. "By reducing the barriers of time, cost, and inconvenience, EpicMD is improving patient access by instantly connecting patients with their own trusted Physicians through the companies revolutionary two-sided marketplace, HealthShare™.
“EpicMD continues to push industry boundaries by releasing a new fully cloud-based shareable platform in the coming months,” said EpicMD President, Jack Karabees. "The U.S. healthcare system continues to undergo a major transformation. Mobile technologies are changing the industry, federal deregulation has opened the door for true innovation, and increasing patient expectations are challenging Physicians and providers of all types."
The EpicMD platform is designed to reduce the bulk of uncompensated after-hours calls, prescription refill requests, provision of lab results, while providing on-demand after-hours primary care consultations when requested.
In December, EpicMD announced that it had raised $3 million inn Series A funding in a round led by Sagemoore Capital. The round also included participation from a number of the company's largest customers, including physician practices.