The pressure on health care providers big and small to be able to easily share clinical data with other providers is growing, and a cloud-based electronic health records (EHR) system is arguably better equipped to do that. This belief has been reflected in some of the venture capital activity we’re seeing in the digital health space.
Florida-based Modernizing Medicine has raised $15 million of a $20 million round to support the development and marketing of its cloud-based, specialty-specific electronic health records (EHR) platform.
The round was led by Summit Partners and Pentland Group, both of which had previously invested in the company. Modernizing Medicine has now taken a total of $44 million in four funding rounds dating back to January 2010.
“At Modernizing Medicine we believe that properly captured and leveraged health data has the power to increase efficiency, improve patient outcomes, and transform healthcare,” said Daniel Cane, Modernizing Medicine’s cofounder and CEO, in a statement. “With the investment we intend to continue focused development in the surgical specialties, while also committing resources for development in telemedicine, IBM Watson, and mobile applications.”
The Modernizing Medicine EHR can be accessed via an iPad application or from most web-enabled Macs or PCs.
The company offers specialty-specific versions of its EHR — each with its own specialty content library — for dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, rheumatology, urology, and plastic and cosmetic surgery. The platform captures all clinical and billing information and helps doctors apply the correct treatment codes.
The company says more than 4,000 providers in eight different medical specialties have now adopted its EHR platform. More than 26 percent of dermatologists in the U.S. now use the Modernizing Medicine EHR, the company says.