MDmetrix Raises $3 Million Seed Round Led by Founders’ Co-opSEATTLE, WA, 14 May 2019
MDmetrix, a healthcare data analytics, visualization and AI company, has raised a $3 million seed round led by Founders’ Co-op and including Arnold Venture Group and WRF Capital. The company will use the funds to add key hires at its Seattle-based headquarters and to expand its AI capabilities, while leveraging its new investors’ proven track records in healthcare innovation and entrepreneurship.
First launched at Seattle Children’s Hospital in 2016, MDmetrix’s technology leverages the federal government’s $40 billion-dollar investment in electronic medical records (EMRs) to transform clinical operations for hospitals and surgery centers. Specifically, MDmetrix empowers medical leaders and frontline clinicians to access and understand outcomes performance data across patients, providers, protocols, and facilities, enabling clinicians to improve patient care and to surface millions of dollars in cost and revenue opportunities.
“MDmetrix has exactly what we look for in an investment—a company that uses advancements in technology to transform an industry, strong leadership with industry expertise, and proven results,” said Chris DeVore, managing partner of Founders’ Co-op. “MDmetrix was initially created to address physicians’ frustration with their lack of visibility into outcomes across patients. Once MDmetrix’s system was deployed, it quickly became clear that clinicians can use their newfound visibility into performance to transform clinical operations, delivering better care at a lower cost for millions of Americans.”
“At Seattle Children’s, we’ve used MDmetrix’s solutions to improve care for thousands of our patients,” said Dr. Sanjay Parikh, Medical Director of Surgical Services at Seattle Children’s Bellevue Clinic and Surgery Center. “We are now using MDmetrix’s ClinOps Control Center to measure and enhance many aspects of our clinical operations, from patient safety to OR efficiency, leading to care improvements, substantial cost savings and capacity to serve more patients.”
MDmetrix’s analytics, visualization, and AI tools are now being used to transform clinical operations across hospitals and ambulatory surgery centers. With a push of a button, clinicians and their leaders are able to visualize, compare, improve and monitor performance by team, provider, protocol or facility across a wide array of metrics including pain scores, procedure times, and readmissions. Over the past year, MDmetrix has uncovered over $15 million in financial benefits for its partners, and has rolled out department-specific specialty modules as well as a clinical operations Control Center enabling users to continuously improve and monitor performance.
“We are thrilled to have the support of Founders’ Co-op, Arnold Venture Group and WRF Capital,” said Warren Ratliff, chief executive officer of MDmetrix. “With this infusion of smart and experienced capital, we will expand our team and enhance the machine learning capabilities of our system, accelerating our mission of transforming healthcare for all.”
MDmetrix is a healthcare data analytics, visualization, and AI company that serves hospitals and surgery centers. By empowering medical leaders and frontline clinicians to access, analyze and improve clinical and workflow outcomes, MDmetrix enables providers to improve care and lower costs, transforming clinical operations. Founded in Seattle in 2016, MDmetrix was spun out of Seattle Children's Hospital. To learn more, please visit www.mdmetrix.com.