Pre-Clinical Intake Automation Company Health Note Nabs $17M in Funding Round
SignalFire, UnityPoint, Northwell Holdings, Cedars Sinai back innovations in documentation automation to improve care delivery for clinicians and patients
LOS ANGELES, July 22, 2022 /PRNewswire/ -- Health Note, the pre-clinical intake automation platform that uses digital patient intake to prepare clinical notes for providers ahead of patient visits, today announces the close of a $17 million Series A financing round led by SignalFire. SignalFire is joined by UnityPoint Health, Northwell Health Holdings, the for-profit arm of Northwell Health focused on investment in early stage/growth opportunities, strategic partnerships and the cultivation of internal innovations that drive improvements in patient care and create diversified revenue streams for the health system, and Cedars Sinai Health Ventures.
"Health Note is solving one of the single biggest pain points in the healthcare system – the physician burnout epidemic. In the midst of a structural clinician shortage, it's hard to imagine a higher leverage point to augment panel sizes, eliminate bureaucracy, and maximize productivity to free up more time to better patient outcomes. We couldn't be more excited to partner with Josh, Aaron, and the incredible team at Health Note," said Wayne Hu, Partner at SignalFire.
Health Note will use the funds to accelerate market expansion, expand EHR integrations and invest in further R&D to build additional offerings for clinical support.
"Front-line healthcare workers need more support than ever, and we're excited to have partnered with several great investors to help us help healthcare professionals," said Health Note CEO and co-founder Joshua Reischer, MD. "The vision for Health Note has always been to support care providers by empowering patients to create and interact with their health data before the visit starts, thus reducing the growing documentation burden that frustrates the vast majority of doctors and care teams. The additional funding will help Health Note replicate its early success with mid-size practices and health systems at scale, which is sorely needed as our health system continues to operate with limited staff."
For the patient, using Health Note is like exchanging text messages with a friend: they receive a text reminding them of the upcoming appointment with a confirmation link that begins a "conversation" with the Health Note chatbot. The conversation develops based on the patient's answers; it's both interactive and intelligent, using complex clinical decision trees to ask questions a doctor would ask. Health data generated by patient responses are then embedded directly into discrete fields, meaning less manual documentation for front desk and clinical staff and more informed cnversations between patients and caregivers.
"Excellent patient care begins with excellent provider-patient communication," said James Laur, vice president, Intellectual Property for Cedars-Sinai Medical Center and managing director of Cedars-Sinai Health Ventures. "We invested in Health Note because we believe this technology and application can further strengthen our caregiver-patient relationships and help us provide the personalized medical expertise that efficiently addresses patients' individual concerns and circumstances."
For the provider, using Health Note means business as usual – except that subjective clinical notes, including information such as history of present illness, chief complaint, family, medical, and social history, medication review, and other related information is ready for review directly in the EHR before the visit, instead of needing to be captured while with the patient and documented after hours.
"Health Note's technology dramatically improves patient-provider interactions by reducing the immense administrative burden associated with patient intake, a historically manual process," said Dr. Jill Kalman, senior vice president, chief medical officer, and deputy physician-in-chief at Northwell Health. "The automation empowers clinicians to focus more on their patients rather than administrative tasks, thereby improving our ability to deliver high-quality care."
The ease of use and accessibility powering Health Note mean customers see an 85% patient completion rate by patients before the visit starts, leading to a 50% reduction in check-in times. Having historical clinical information readily available saves an additional 5-10 minutes per visit.
"Health Note leadership has a strong foundation in clinical care and knowledge of the healthcare ecosystem throughout its executive team, which is apparent by its early success. Its platform is one of the more unique innovations we have encountered in that it automates data entry at multiple points along the care journey, from administration to the clinician. UnityPoint's providers are the backbone of patient care, and we're happy to support clinician workflows through our investment with Health Note," said UnityPoint Director of Innovation Matthew Warrens. "The patient-driven approach to health record creation has proven successful with various demographics, and we're excited to see Health Note benefit other health systems like UnityPoint across the US."
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