Business

Physician referral health IT company raises $1.89M to expand service to NY, Mass practices

September 2, 2014 4:59 pm by

In a move to support the national expansion of its customer base of physician practices, referral management software developer Clarity Health has raised $1.89 million, according to an amended Form D filed with the Securities and Exchange Commission. In March, it raised about $890,000, and has received more than $13 million since 2011.

In a phone interview, CEO of the Seattle-based business Bill Bunker said the company’s goal is to improve the success rate of referrals. Currently, a little more than 50 percent of faxed referrals are satisfied. Electronic approaches offer a way to transmit and track referrals. A service center handles insurance eligibility and authorization. Specialists receive pre-authorized referrals, and Bunker said its solution integrates with electronic medical records and patient portals. It also provides tools to make it easier to schedule appointments and to provide insights such as where practices are receiving the majority of their referrals.

Although many of the practices it works with are primary care physicians, it also works with radiology and orthopedic practices, health systems and accountable care organizations, among other customers.

The company has a presence in five states, including California and Texas. It’s adding developers and sales staff to support the expansion of its business eastward. In the next 30 days it expects to start doing business with customers in Massachusetts and New York.

Physician referral services have been a big area for health IT startups, as entrepreneurs see an area ripe for improvement.

Source: http://medcitynews.com/2014/09/physician-referral-software-co-uses-1-8m-expand-service-ny-mass-practices/

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