The Emergency Room is often a chaotic place where precision and agility mean the difference between life and death. DocuTAP has raised $11.9 million from Bessemer Venture Partners to make sure that if something does go wrong, it is not the result of disorganization.
DocuTAP helps urgent care clinics digitalize their operations to make them more efficient and less reliant on paper. The software integrates electronic health records (EHR) and “practice management” technology so all the information and tools needed to operate an efficient practice is one place. The platform is accessible on tablets so clinicians can use it on-the-go. DocuTAP also features automated and customizable tools so each clinic can tailor the software to their needs as well as billing services.
In a statement issued this morning, Steve Kraus of Bessemer Venture Partners said that urgent care is one of the fastest growing sectors within the healthcare marketplace. The healthcare industry as a whole is undergoing a digital transformation. The U.S. government mandated that doctors need to be fully transitioned to electronic records by 2014, and companies are raising large amounts of venture capital to help them do that.
In November 2012, Hello Health raised $11.5 million and companies like CareCloud (backed by $20 million) and Practice Fusion (backed by $64 million) are experiencing significant growth. The market for electronic medical records is estimated at between $6 billion and $10 billion.
DocuTAP stands to capitalize on this transition as well, all the way from Sioux Falls, South Dakota. The company was founded in 2000 and this marks its second round of funding. Bluff Point Associates led the first round of $12 million in March 2012. This financing will be used to increase market presence, accelerate sales, and continue to improve the products.
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