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Patient Engagement, Physicians
By Michael Schroeder
Memora Health announced Tuesday that the San Francisco-based digital health platform has raised $40 million in financing to scale its operations and meet growing demand.
Transformation Capital led the financing with participation from Andreessen Horowitz, Frist Cressey Ventures, Edward Elmhurst Health, AlleyCorp, among others. Todd Cozzens, managing Partner at Transformation Capital, will join Memora’s board, the company said.
The new financing enables Memora to meet commercial demand and drive new partnerships with health systems and payers, and further improve the care delivery experience for patients and their health providers, said Manav Sevak, co-founder and CEO at Memora.
The company continues to grow rapidly and digitizes clinical workflows in partnership with a number of leading healthcare organizations, including the Mayo Clinic and Penn Medicine.
“At a time when the healthcare workforce is under so much strain, we must invest in tech-enabled solutions that augment, extend and ease our ability to deliver world class healthcare at scale,” said Dr. Justin Bekelman, director of the Penn Center for Cancer Care Innovation and professor of radiation oncology at University of Pennsylvania, in an email.
He noted that Penn Medicine is testing ways to help patients with cancer manage side effects and adhere to treatment. In one initiative with Memora, Penn has a conversational AI texting tool that acts as a virtual care team member. The patient- and clinician-friendly platform is available day and night, supporting patients through complex cancer treatment and alerting clinicians when symptoms advance, Bekelman explained.
Supporting patients after an in-person or virtual appointment is taxing since much of that is done manually and patients often end up taking a lot of the burden on themselves, Sevak said. When patients reach out through their portals, it’s usually health providers who are the first point of contact, he added.
“By helping to digitize, automate and track all of those steps for the care teams, we’ve actually been able to reduce care team burden and notifications by nearly 40% so clinicians are spending less time sifting through messages and more time practicing at the top of their license,” he said.
Other organizations also help patients stay connected, reduce the burden on health providers and bridge care gaps, using artificial intelligence and other sophisticated approaches, such as Ada Health and Docent Health.
Memora tries to distinguish itself with a cohesive, easy-to-access, fluid approach that makes the optimal way of caring for patients the easy way, according to the company.
For patients: “Changing the process from reactive to proactive by allowing them to receive real-time guidance and proactive education significantly impacts their healthcare outcome,” Sevak said.
Photo: Getty Images, pixelliebe
For researchers who aren’t affiliated with an academic library, finding scientific papers can be time-consuming and expensive—and organizing and sharing them with co-workers can be even harder. A new tool by DeepDyve looks to help researchers address this gap.
DeepDyve Digital Library Team
The report, Resilience in volatility: Modernizing the supply chain, highlights three areas that Fortune 500 and mid-size companies need to address to implement technology such as machine learning, cloud computing and risk management tools to improve production and delivery.
MedCity News and Microsoft
care navigation, funding, Memora Health, Patient Engagement
It’s clear that life science companies need to transform their approach to be much more collaborative in the way they work with healthcare professionals.
Microsoft and MedCity News
MedCity INVEST, held March 28-30, 2022 at the Ritz-Carlton Chicago, is the premier national healthcare investing conference based in the Midwest, uniting active investors with corporate business development executives to facilitate investment opportunities with the most promising healthcare startups. Reserve your spot now.>>
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Bill Martin, the Global Therapeutic Area Head of Neuroscience at The Janssen Pharmaceutical Companies of Johnson & Johnson, shared some of the promising developments in the neuroscience space, such as the rise of neuro-immunology and the industry’s embrace of digital health tools to support drug development in a recent interview.
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