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OpenLoop raises $15M to enhance virtual care support services

by | Mar 17, 2023 | Health Blog | 0 comments

OpenLoop, which gives staffing and assist to digital well being firms launching digital care providers, garnered $15 million in Sequence A funding and introduced a nationwide payer community and income cycle administration service.  

Nava Ventures led the spherical with participation from PrimeTime Ventures, UnityPoint Well being Ventures, ManchesterStory and SpringTide Ventures. 

WHAT THEY DO

The Iowa-based firm presents regulatory and authorized help, telehealth infrastructure, supplier staffing, administrative providers and income cycle administration to firms constructing digital care providers. 

The corporate’s payer protection and income cycle administration service merges its nationwide payer protection clinician community with its income cycle administration choices to assist digital well being firms with the reimbursement and fee course of. 

“OpenLoop has seen wonderful progress inside our firm within the final yr. Our dedication to offering digital care providers that concentrate on supporting superior and significant affected person care at each touchpoint is what’s pushed that success. We sit up for the alternatives this subsequent spherical of funding will carry to the corporate and our shoppers,” Jon Lensing, CEO and cofounder of OpenLoop, mentioned in an announcement. 

MARKET SNAPSHOT

In 2022, OpenLoop scooped up $8 million in Series A funding, a yr after it closed an oversubscribed $3 million seed round.

One other digital care staffing and providers vendor is Wheel, which raised $150 million last year in Series A funding, bringing its complete increase to $216 million. In November, the corporate acquired GoodRx’s backend digital care know-how for $19.5 million in cash

Nevertheless, Wheel was not proof against the current string of layoffs amongst tech firms. Over the summer season, the Texas-based outfit laid off 17% of its staff, or 35 employees, and final month let go of 56 employees, or 28% of its workforce

Emily Kwan will provide extra element at her HIMSS23 session “Implementing an AI NLP Device to Deal with SDOH Wants.” It’s scheduled for Tuesday, April 18, at 1:30 p.m. – 2:30 p.m. CT on the South Constructing, Stage 1, S105 C.



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