Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP represented PatientPing.
PatientPing, the nation’s leading care collaboration and e-notifications platform, announced that it has raised $60 million in Series C funding to fuel expansion to new geographies and extend capabilities. Powered by the nation’s largest network of Admission, Discharge, Transfer (ADT) data, PatientPing connects thousands of healthcare providers and health plans across the continuum of care.
The investment round, co-led by Andreessen Horowitz, F-Prime Capital, GV (formerly Google Ventures), and Transformation Capital, with additional participation from existing investors, brings PatientPing’s total funding to over $100 million.
The funding announcement comes as the deadline nears for complying with the Centers for Medicare and Medicaid Services (CMS) interoperability rule, which adds a Condition of Participation (CoP) requiring hospitals to share ADT electronic event notifications (e-notifications) with other providers whenever patients have inpatient or emergency department care events. This is an approach PatientPing pioneered nearly seven years ago with its Pings solution. It also comes in the midst of the COVID-19 pandemic, when sharing real-time information about patients’ care encounters across providers and settings is critical to ensure better, safer, and faster treatment and care transitions for infected and recovering patients.
Sharing ADT events via Pings is a secure and cost-effective way to activate a patient’s entire medical team to take action to coordinate care. This enables providers to drive efficient care transitions in and out of emergency departments, hospitals, post-acute providers, and other care settings. By connecting care teams during clinical encounters, Pings keep patients from poor hand-offs between providers that frequently result in patients spending more time in hospitals and other care settings than they need.
PatientPing is an innovative care collaboration platform that reduces the cost of healthcare and improves patient outcomes by seamlessly connecting providers to coordinate patient care. The platform enables providers to collaborate on shared patients through a comprehensive suite of solutions and allows provider organizations, health plans, governments, individuals and the organizations supporting them to leverage real-time patient data to reach their shared goals of improving the efficiency of our healthcare system.
The Gunderson Dettmer deal team included Jeffrey Engerman (Picture), Laura Stoffel and Christopher Crawford.
Law Firms: Gunderson Dettmer;
Clients: PatientPing Inc;