It’s fitting that Cureatr’s $13M Series B financing was announced Thursday, June 25 on the same day that the Supreme Court upheld the key tenets of the Affordable Care Act. Alex Khomenko, Cureatr's CTO and co-founder, and I set out to build Cureatr together right around the same time that healthcare reform was kicking off.
At that time, I was a resident at Mount Sinai Hospital in NYC, working days in the hospital and nights and weekends on Cureatr. Alex would hang out in the resident call room, ED (dressed up in scrubs, he was easily mistaken as a med student) and interact with the hospital staff. We were immersed in the clinical and IT day-to-day workflow and what we saw and read about was pretty antiquated.
“Epic Trainers” roamed the hallways teaching people how to check off boxes on Windows machines, which used Internet Explorer, nurses used walkie-talkie like devices, and decent WiFi coverage was unimaginable.
We were, however, most frustrated and fascinated at how the simple, obvious things were often the biggest bottlenecks. This was particularly the case with improving care coordination and reducing costs, two key elements of healthcare reform. We knew there could be an easier, better way, so we decided to focus on event notifications – or what we now call Care Transition Notifications – and the mission that Cureatr is driven by today: To always let you know, in real-time, when your patients are receiving care.
If you’re working at an ACO, health plan, or just about any other part of the continuum, it is a struggle to find out when the patients you’re clinically or financially responsible for are in the ER, admitted to a hospital, or post acute care facility. Additionally, if you’re on the other side of the equation, i.e. working in an ER, it’s equally as challenging to find the correct name, phone number, med list, or discharge summary for the majority of the patients who show up. The technology we’ve come to expect and rely on to track our packages shipped by UPS, or send a Google Alert about your favorite sports team, was totally missing from care coordination.
So this is what Cureatr has set out to build – regional Care Transition Notifications networks, paired with our mobile care coordination platform, which lives in the hands (and pockets) of care-teams, so they can receive and respond immediately to care transitions. We are thrilled to have a great group of new and existing investors as partners.
We started by building our network from the bottom-up in NY, our home-court, and from the top-down with an invaluable partner, DaVita HealthCare Partners. We are now launching in many new regions across the US, as a result of significant demand from existing and new partners. I am so appreciative to have enthusiastic support from investors, including Deerfield Management, Cerner Capital, Windham Ventures and others, as well, as remarkable clients that influence and inspire our innovations, particularly the Visiting Nurse Service of New York and Montefiore Medical Center. Alex and I are proud to continue the mission we embarked on several years ago and won’t stop until coordinated care is as easy as we know it should be.