Arterial Network was informed that on August 1, US telemedicine company MDLIVE announced a $50 million growth investment, and medical insurance giants Cigna, HCSC and Health Velocity Capital led the investment. Other participants include Novo Holdings A/S and Industry Ventures.
Convenient and professional virtual medical platform
Founded in 2009, MDLIVE is one of the oldest, largest and fastest growing companies in the United States, focusing on building telemedicine platforms that deliver high quality, convenient, low cost, multi-disciplinary virtual medical services. Through the platform launched by MDLIVE, patients can communicate virtually with doctors, consultants, psychiatrists and dermatologists. Previously, MDLIVE had completed two rounds of financing with a total investment of $73.6 million.
MDLIVE works with recognized healthcare organizations to provide telemedicine services to more than 27 million Americans. Through the company's platform, patients can have virtual access to legitimate doctors, consultants, psychiatrists, and dermatologists. Provide patients with convenient medical services through the medical industry 's most modern and scalable cloud platform that meets HIPAA security standards. Patients, health care providers, and healthcare systems can also use this service to improve results and save costs.
MDLIVE CEO Rich Berner said the funding enables the company to “continue to focus on providing top consumer and clinician experiences and accelerate the development of existing medical services involving behavioral, dermatological and medical consultations. And launch new products to help manage chronic diseases and improve their predictability."
Berne also mentioned that the investment was led by two medical insurance giants, “proving that they believe in MDIVE and believe that more and more medical services will be carried out in a virtual way in the future. The most experienced telemedicine investor in the United States is Health. The participation of Velocity Capital provides a broad network system and telemedicine expertise for our next development."
For the next goal of MDLIVE, Berne points out to expand the professional team and add more virtual medical services to its platform. In addition, the agency plans to expand its business by adding solutions, such as researching the capabilities of the artificial intelligence medical assistant Sophie in predicting health management and intelligent routing.
Telemedicine: Coexistence and trust
Virtual medical care is one of the fastest growing markets in the medical field, addressing medical costs and access to medical services. Although the investment will advance the development of telemedicine, a recent Deloitt survey found that telemedicine applications are lagging behind in the medical field. The survey involved 624 primary care physicians and professional care physicians, and only 14% said they could use this telemedicine. Among the remaining respondents, 18% of doctors plan to add such services in the next year or two. When asked about virtual medical technology, they expressed concern about potential medical errors and protecting patient privacy information.
Tom Meier, vice president of HCSC, said, “We are looking for innovative partners by continually analyzing the medical market. MDLIVE provides virtual access products for HCSC to help us provide better medical services and a better user experience while reducing healthcare. Cost. We look forward to working with MDLIVE to virtualize, automate and optimize healthcare through innovative solutions such as Sophie, an AI-based personal digital medical assistant."
According to Marty Felsenthal of Health Velocity Capital, “We have had considerable success in the telemedicine market and helped create billions of dollars in value. We are a strong advocate in this field. Telemedicine provides a platform for patients. They can complete virtual visits on this platform, including primary health care, behavioral and dermatological medical consultations, post-discharge services, diagnosis of chronic diseases, etc. MDLIVE has more than 10 years of experience in telemedicine We believe that this is a truly reliable platform that will become the leading next-generation telemedicine platform in the US. We look forward to helping MDLIVE continue to grow through cooperation."
Cigna's Tom Richards said, "Selectivity, personalization and affordability are critical to improving the US healthcare system. Telemedicine affects these three factors and we will continue to invest in MDLIVE. This collaboration can promote Patients have virtual access to health care providers. We found that customer satisfaction has increased, total medical costs have dropped by 17%, and emergency department usage has fallen by 36%."
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