PatientKeeper Raises $6.25 Million in Financing
Healthcare software company funds expansion of its professional services and support operations to address hospitals’ growing demand for CPOE deployments to meet Meaningful Use requirements
Waltham, Mass. – June 21, 2012 – PatientKeeper® Inc., the leading provider of physician healthcare information systems, today announced that it has raised $6.25 million in financing from several existing investors, including Flybridge Capital Partners, New Enterprise Associates and Whitney & Co.
The funds will be used to expand the company’s professional services and support operations, to meet hospitals’ growing demand for computerized physician order entry (CPOE) and other clinical and financial software applications that address federal Meaningful Use requirements, and systemic healthcare cost and quality pressures.
PatientKeeper launched its CPOE product into the market in 2010, and has since received commitments from more than 75 hospitals to deploy it.
PatientKeeper software is used by 50,000 physicians across North America and the UK. Over the past 18 months, PatientKeeper has grown its physician user base by 79 percent.
Chip Hazard, General Partner at Flybridge Capital Partners and Chairman of the PatientKeeper board of directors, said, “PatientKeeper CPOE is getting an enthusiastic reception in the market, and we’re excited to be part of the company’s continued expansion. The dramatic growth of PatientKeeper’s physician user base is testimony to the quality of the company’s products and the impact they are having on care delivery.”
PatientKeeper’s CPOE, medication reconciliation, and electronic physician documentation applications allow hospitals to meet the federal government’s Meaningful Use requirements and secure federal incentive payments. In addition, PatientKeeper’s charge capture and other financial applications play a key role in helping hospitals and physician practice groups improve revenue cycle management and realize efficiencies as they transition from ICD-9 to the ICD-10 diagnosis coding system.
“This funding provides capital to support our growth as we continue to expand our product offerings and our customer base,” said Paul Brient, President and CEO of PatientKeeper. “We have built an entirely new approach for physicians to enter orders and take care of patients, which is being embraced by physicians across the country.”
PatientKeeper’s EHR optimization software solutions streamline clinician workflow, improve care team collaboration, and fill functional gaps in existing hospital EHR systems. With PatientKeeper as the “system of engagement” complementing the EHR, clinicians can easily access and act on all their patient information from PCs, smartphones and tablets. PatientKeeper has more than 70,000 active users today. For more information about PatientKeeper, visit www.patientkeeper.com or call (781) 373-6100.