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September 16, 2022
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AmplifyMD is a platform for all particular wants: it connects. Excited to be traders together with F Prime (Constancy), Greylock and Forerunner – it has been a complete of $23 million in funding because it began in 2018. The group impressed us with (1) a powerful execution group (2) early hires present a superb strategic give attention to gross sales and buyer administration (3) clear implications for entry to well being care and path for medical consultations between states.
1) The necessity
Inequitable entry to well being care is a widespread downside in the USA, particularly in rural communities that lack giant hospital programs to assist specialised well being care. Telehealth has grow to be a rising pattern within the provision of affected person care and the return of entry to areas that lack medical useful resource assist, with a complete addressable market of $33 billion. The burden of heart problems and stroke varies from state to state, and though a Bristol Myers Squibb research discovered that 49% of Individuals have at the very least one main threat issue for coronary heart illness, the highest 10 states with the very best incidence highest embrace Michigan and Louisiana, most concentrated in pockets of rural areas. Along with uneven affected person outcomes, inequity in entry to specialty care has important monetary prices, with analysis fashions exhibiting that eliminating inequities in care as a consequence of simply one of many elements driving inequity, disparities racial variations, it could save $2.3 billion in direct care prices. The implications of addressing gaps in entry to well being care are compelling each financially and for bettering affected person outcomes.
2) The Group
CEO Meena Mallipeddi has had a background within the consulting area and transitioned into personal funding within the know-how and healthcare industries earlier than beginning AmplifyMD. Her background is in Worldwide Relations and CS, and he or she was additionally a Gates Fellow. CPO and co-founder Anand Nathan’s earlier experiences embrace consulting at Bain, investing at KKR, company technique at Engineering Methods Resolution, and Linkedin. Her background is in economics and electrical and biomedical engineering. CTO Nijay Patel had over 11 years mixed at Epic and Redox, which focuses on EHR interoperability. His background is in biophysics with a give attention to computational biology.
3) The Product
The AmplifyMD platform seeks to attach sufferers in hospital programs with specialists with a view to proceed their care. The platform solves the issue of lack of entry to healthcare in lots of rural areas by creating networks of main care and specialist medical doctors to serve the wants of quite a lot of sufferers starting from sufferers with continual ailments to infectious ailments. Its increasing checklist of specialties served contains, however is just not restricted to, cardiology, neurology, psychiatry, nephrology, and oncology. With a various affected person inhabitants at their companion services, from rural communities, tertiary care facilities and acute care hospitals, they’re devoted to offering a platform for video consultations to drive outcomes reminiscent of increased MIC and charges. decrease 30-day readmission charges, offering a win-win for hospitals, suppliers, and sufferers. We consider AmplifyMD is properly positioned within the telehealth market, in addition to its potential to mixture information from sometimes remoted websites, to leverage its platform to extend entry for hundreds of thousands of sufferers within the US.
We’re honored and excited to be part of AmplifyMD’s journey, leveraging know-how to rigorously fill the gaps in healthcare. Extra at https://amplifymd.com/.
Because of Sharon Huang for serving to with this text. Initially posted on “Information Pushed Investor”, I am joyful to syndicate it on different platforms. I’m the managing companion and co-founder of Tau Ventures with 20 years in Silicon Valley in corporations, personal startups and enterprise capital funds. These are intentionally quick articles centered on sensible information (I name it gl; dr – good size; I learn it). Quite a lot of my writing is at https://www.linkedin.com/in/amgarg/element/recent-activity/posts and I might like it in the event that they get folks sufficient in a subject to discover it additional. If this text has helpful info for you, please remark and/or just like the article and the Tau Ventures LinkedIn web page, with due thanks for supporting our work. All opinions expressed listed below are my very own.
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Why We Invested In AmplifyMD — Virtual Specialist Healthcare