Telehealth Startup OpenLoop Raises $15 Million to Streamline Virtual Care Delivery
Company launches the first-of-its-kind comprehensive nationwide payer coverage network, offering clients everything they need from first visit to final payment OpenLoop, a leader in white-label telehealth support services powering virtual and hybrid care across the country, today announced it has raised a $15M Series A funding. The round was led by Nava Ventures, with participation from new investors UnityPoint Health Ventures and PrimeTime Ventures, and existing investors SpringTide Ventures and ManchesterStory. The company also announced a new nationwide insurance payer network that allows clients to offer reimbursable services to patients instead of cash pay only options. A Surge in Virtual Health Overnight, the pandemic exposed shortcomings in the healthcare system, leading to widespread adoption of virtual care services by patients and clinicians. After public health restrictions were lifted, patients continued to seek more convenient ways to access mental health care, urgent care, short-term prescription refills and manage other chronic conditions. The global telehealth market size, currently estimated at $101.51 billion, is predicted to grow to $455.3 billion by 2030, according to Research and Markets Reports. That’s a CAGR of 24.0% over the next seven years. Additionally, telehealth services hold 45.7% of the total market share due to increased adoption to manage chronic conditions and monitor health outcomes. Providers themselves hold 53% of the market due to incr...
Source: EMR and HIPAA - Category: Information Technology Authors: Healthcare IT News Tags: Health IT Company Healthcare IT Telemedicine and Remote Monitoring API CAGR Christian Williams Dr. Jon Lensing Freddie Martignetti Health IT Funding Health IT Fundings Health IT Investment HIPAA Hybrid Care ManchesterStory Medi Source Type: blogs
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