Zipnosis raises $17m for remote patient diagnosis development
January 6, 2016
Minneapolis-based telemedicine company Zipnosis has raised a US$17m Series A financing round to accelerate product development.
The funding round was led by Safeguard Scientifics, with participation from Ascension Ventures and existing investors Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures and Omphalos Ventures.
Zipnosis produces a virtual care system that empowers health systems to launch their own branded virtual care service line staffed with their own clinicians – making better use of the clinician's time and ensuring clinically appropriate patient outcomes. It guides health systems through clinical, marketing, compliance and operations workflows, and guarantees launch of their virtual care programmes in 60 days.
Zipnosis' white-labelled software integrates with a health system's electronic medical record and patient portal, and allows health systems to serve both existing and new patients.
"Our platform is designed to enable health systems to expand access to immediate care using their own clinicians," said Jon Pearce, co-founder and CEO of Zipnosis. "With Zipnosis, health systems have a unique opportunity to care for more patients under their own brand name and without adding staff. Patients are happier to be seen sooner without having to step foot outside their home or go to a waiting room. We are grateful to Safeguard Scientifics, Ascension Ventures and our existing seed investors for their confidence in our team and technology, and for their support that will enable us to expand the innovative access we provide to mainstream medicine through our partnerships with health systems around the USA."
The asynchronous platform mimics an in-person interaction between clinician and patient, gathering the necessary information for diagnosis and providing clinicians with appropriate treatment options. For patients, the user experience is seamless.
The patient simply logs into the health system's branded virtual care site and completes a short, dynamic online interview that gathers information about the patient's condition. Then, behind the scenes, Zipnosis' algorithm of triage tools sends the interview to the appropriate clinician within the health system for diagnosis and treatment. The clinician is presented with structured information that facilitates a diagnosis and treatment decision in about two minutes, delivering an efficient virtual care encounter.
The clinician can triage the patient with a phone or video visit for more information, if necessary. When appropriate, the clinician can e-prescribe medication to be sent to the patient's pharmacy of choice. The patient is guaranteed a response in under an hour.
"Zipnosis offers health systems an incredible opportunity to retain existing patients and acquire new ones," said Al Wiegman, managing director for healthcare at Safeguard, who will join Zipnosis' board of directors. "Virtual visits are an increasingly popular way for clinicians to diagnose and treat patients without requiring an in-person visit, and have the potential to produce better patient outcomes through more rigorous clinical protocols. We're excited to partner with the Zipnosis team and support its disruptive platform as it works to expand affordable access to care."
Currently, Zipnosis offers virtual care for more than 90 conditions and is expanding into chronic care conditions. In addition, the company works with about 17 health system customers including Fairview Health Services, University of Alabama-Birmingham, Group Health and John Muir Health.
"Zipnosis has illustrated it is a true partner to healthcare systems by creating a virtual care platform that fits the needs of the patient as well as the provider," said Helen Ciesielski, investment associate at Ascension Ventures. "Its vision of the future of telemedicine, which includes the development of innovative products like ZipTicket –– the equivalent of an electronic boarding pass that gives patients front-of-the-line access at their clinic – as well as its ability to integrate into a health system's current processes and IT systems to ensure continuity of care, goes beyond any other product in the marketplace."
Zipnosis provides health systems with a white-labelled, fully integrated virtual care platform. Patients can be treated for more than 90 conditions using the adaptive interview, triaged directly into a phone or video encounter, or directed to visit a clinic for faster service using ZipTicket.