Medmo, a startup company aiming to streamline the process of booking medical imaging appointments, has raised $9 million, leaders announced Monday.
Venture capital firm Lerer Hippeau led the fundraising round with additional contributions from existing VC investors. The New York-based vendor notes that upward of 40% of imaging orders are delayed or never completed, due to various inefficiencies. Medmo seeks to address this issue by enabling “seamless scheduling” of exams across various modalities.
“Providers often lose visibility once a patient leaves the office, while their staff spend time tracking down critical information by phone and fax,” Lucas Takahashi, co-founder and CEO of Medmo, said in a Nov. 20 announcement. “Our platform facilitates the process from start to finish, allowing providers to track patient journeys and close the loop on care. This leads to better patient outcomes and less administrative burden on staff.”
Medmo has recently expanded nationwide, supporting clients including primary care groups, imaging centers, large hospital systems and virtual health groups. Takahashi and colleagues said they’ll use the additional funds to further accelerate their rollout and fine-tune the platform. Their product is able to integrate with existing workflows and serves to expedite patient intake, lower practice costs and maximize quality. Medmo’s service matches patients with a network of accredited imaging centers, with the company also employing a team to manage scheduling and ensure exams are covered by the insurance.
“Investor capital in healthcare has often focused on high-tech solutions to improve diagnostic assessments, but that approach ignores a crucial first step: connecting patients with accessible care,” Isabelle Phelps, partner at Lerer Hippeau, which also is based in New York City, said in the announcement. “Medmo removes the cost and logistical barriers to diagnostics, improving imaging order completion rates and subsequent quality of care.”
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.