Startup Spotlight: DispatchHealth’s in-home healthcare
Denver, Colorado-based Dispatch Health is a provider of in-home healthcare through technology.
Operating in more than 19 cities across the United States, DispatchHealth caters to those with medical needs at home, giving examples such as lacerations, dehydration or asthma interventions. The service is requested either by patients or care partners through DispatchHealth’s app and website, as well as via phone.
The company has raised over $200mn across four funding rounds since its foundation in 2013. Earlier this week, the company announced a Series C round raising $135.8mn. Led by Optum Ventures, also participating were Questa Capital Management, Oak HC/FT, Humana, Echo Health Ventures and Alta Partners
In a press release, Dr. Mark Prather, CEO and Co-Founder of DispatchHealth, said: “Approximately a third of the cost of the U.S. health care system is devoted to facility-based care delivery, such as emergency rooms, hospitals, and post-acute facilities. For seven years, our care model and technology platform have demonstrated lower costs and improved outcomes by delivering care safely in the home. Adoption has consistently grown, and our Net Promoter Score of 95 across our first 160,000 patient visits indicates high satisfaction. We appreciate the support of investors, and look forward to working with them to continue executing on our transformational vision.”
The company collaborates with healthcare systems, provider groups and insurers, including, the company says, most Medicare and Medicaid plans.
“Home is increasingly the place where people prefer to receive their care. This is especially true for older adults with multiple chronic conditions. We believe DispatchHealth’s clinical delivery model can improve the overall patient experience and health outcomes by allowing people to remain comfortable at home while also empowering the medical team to more easily identify patient needs than they can in a clinical setting,” said Susan Diamond, Segment President, Home Business of Humana.
Zoom enters the healthcare market - a timeline
Since the pandemic began Zoom has become an integral part of daily life for people working from home, as well as a vital tool for families and friends to communicate. However it's also been eyeing up the healthcare space since 2017, and following the boom in telehealth the company has been rolling out additional services. Here we chart Zoom's move into healthcare.
2011 - 2013
Zoom is founded in San Jose, California, by Eric Yuan, formerly of Cisco. He got the idea to create a video calling platform from his visits to his girlfriend while he was a student, which would take 10 hours by train.
A beta version is released in 2012, which can host up to 15 participants. In 2013 this rises to 25. By mid-2013, Zoom has 1 million users.
2014 - 2017
Zoom attracts investors, including Sequoia Capital, Emergence and Horizon Ventures. By January 2017, Zoom has a series D funding worth $100 million.
2017 - 2019
Zoom for Telehealth launches, including an integration with EHR system Epic. It has cloud-based video, audio, and content sharing features, a "waiting room" for patients, and can easily be integrated into healthcare provider's workflows.
In 2019 Zoom goes public, with its IPO rising 72% in one day.
As a result of the pandemic, Zoom gains 2.2 million new users, more than in the whole of 2019. On the 23rd of March alone - the day the UK lockdown was announced - the platform was downloaded 2.13 million times around the world.
Share prices rise to around $150, and founder and chief executive Eric Yuan becomes one of the world's richest people, with an estimated net worth of $7.9 billion.
Early security issues are addressed by encrypting data with the Advanced Encryption Standard (AES). By now the the platform allows 99 people to be on a call simultaneously
New features launch, including Zoom Home and Zoom for Chats. Throughout the year the platform is used to replace most kinds of real life events: work meetings, online classrooms, church services and social events.
Renamed Zoom for Healthcare, users can share secured video, audio, and content through desktops, mobile phones, and conference devices. As well as Epic, it can be integrated with Strmr, IntakeQ, and Practice Better.
It can also be used with diagnostic cameras and other point-of-care devices, including digital stethoscopes.
In an interview with Korea Biomedical Review, Zoom Global Healthcare Lead Ron Emerson said: "Our service is not simply a virtual care and telemedicine platform but a multi-purpose platform that can satisfy the needs of healthcare institutions."
"It can be used for administrative tasks, including telemedicine, medical team meetings, recruitment, medical education, employee training, and disease prevention. Analysing electronic records managed by Zoom could provide meaningful insights into patient care."
Phoenix Children's Hospital, Belfast's Hospital Services Limited, Butler Health Services and the global Project ECHO are among Zoom for Healthcare's current customers.