Why We Invested In AmplifyMD — Digital Specialist Healthcare | Iconic Tech

September 16, 2022

2 minutes of studying

AmplifyMD is a platform for all particular wants: it connects. Excited to be buyers together with F Prime (Constancy), Greylock and Forerunner – it has been a complete of $23 million in funding because it began in 2018. The workforce impressed us with (1) a powerful execution workforce (2) early hires present a very good strategic deal with gross sales and buyer administration (3) clear implications for entry to well being care and path for medical consultations between states.

1) The necessity

Inequitable entry to well being care is a widespread downside in america, particularly in rural communities that lack giant hospital programs to assist specialised well being care. Telehealth has develop into a rising pattern within the provision of affected person care and the return of entry to areas that lack medical useful resource assist, with a complete addressable market of $33 billion. The burden of heart problems and stroke varies from state to state, and though a Bristol Myers Squibb examine discovered that 49% of People have not less than one main threat issue for coronary heart illness, the highest 10 states with the best incidence highest embody Michigan and Louisiana, most concentrated in pockets of rural areas. Along with uneven affected person outcomes, inequity in entry to specialty care has important monetary prices, with analysis fashions exhibiting that eliminating inequities in care resulting from simply one of many elements driving inequity, disparities racial variations, it could save $2.3 billion in direct care prices. The implications of addressing gaps in entry to well being care are compelling each financially and for enhancing affected person outcomes.

2) The Staff

CEO Meena Mallipeddi has had a background within the consulting area and transitioned into non-public funding within the know-how and healthcare industries earlier than beginning AmplifyMD. Her background is in Worldwide Relations and CS, and she or he was additionally a Gates Fellow. CPO and co-founder Anand Nathan’s earlier experiences embody consulting at Bain, investing at KKR, company technique at Engineering Methods Resolution, and Linkedin. Her background is in economics and electrical and biomedical engineering. CTO Nijay Patel had over 11 years mixed at Epic and Redox, which focuses on EHR interoperability. His background is in biophysics with a deal with computational biology.

3) The Product

The AmplifyMD platform seeks to attach sufferers in hospital programs with specialists to be able to proceed their care. The platform solves the issue of lack of entry to healthcare in lots of rural areas by creating networks of main care and specialist medical doctors to serve the wants of a wide range of sufferers starting from sufferers with persistent ailments to infectious ailments. Its increasing listing of specialties served consists of, however will not be restricted to, cardiology, neurology, psychiatry, nephrology, and oncology. With a various affected person inhabitants at their companion services, from rural communities, tertiary care facilities and acute care hospitals, they’re devoted to offering a platform for video consultations to drive outcomes reminiscent of larger MIC and charges. decrease 30-day readmission charges, offering a win-win for hospitals, suppliers, and sufferers. We consider AmplifyMD is nicely positioned within the telehealth market, in addition to its potential to combination information from usually remoted websites, to leverage its platform to extend entry for tens of millions of sufferers within the US.

We’re honored and excited to be part of AmplifyMD’s journey, leveraging know-how to fastidiously fill the gaps in healthcare. Extra at https://amplifymd.com/.

Due to Sharon Huang for serving to with this text. Initially posted on “Knowledge Pushed Investor”, I am completely satisfied to syndicate it on different platforms. I’m the managing companion and co-founder of Tau Ventures with 20 years in Silicon Valley in firms, personal startups and enterprise capital funds. These are intentionally brief articles targeted on sensible data (I name it gl; dr – good size; I learn it). A number of my writing is at https://www.linkedin.com/in/amgarg/element/recent-activity/posts and I would find it irresistible in the event that they get individuals sufficient in a subject to discover it additional. If this text has helpful info for you, please remark and/or just like the article and the Tau Ventures LinkedIn web page, with due thanks for supporting our work. All opinions expressed listed below are my very own.