OpenLoop, a Des Moines, IA-based health tech company connecting clinicians to innovative digital health companies, raised $8M in Series A funding.
The round, which brings total raised to approximately $11m, was led by SpringTide Ventures with participation from ManchesterStory, Next Level Ventures, Panoramic Ventures, and ISA Ventures.
The company intends to use the funds to further advance the initiative to support companies launching and scaling virtual care services across the nation, double its headcount and expand its practice management and revenue cycle management arms.
Led by CEO Jon Lensing and COO Christian Williams, OpenLoop is a health tech leader delivering full stack clinical support to companies launching and scaling virtual care services across the nation. Its solutions are designed to streamline and simplify go-to-market care delivery for companies offering virtual support to patients across an expansive array of specialties, in all 50 states.
OpenLoop provides five core service offerings:
- Regulatory / Legal Setup: All of the infrastructure and regulatory measures required to legally offer virtual care to patients in all 50 states. OpenLoop takes on the financial frameworks, credentialing, legal review, and compliance standards to save clients the uncertainty, unnecessary risk, and lengthy time-to-launch.
- Provider Staffing: Clinician staffing focused on optimizing the way companies hire for and scale telehealth through a vast network of tough-to-fill provider types, thorough vetting and ongoing support, and rapid ramp up that can quickly evolve with demand.
- Technology Platform: Whitelabeled telehealth infrastructure customized to each client, their unique patients, and their ideal visits. A true “plug and play” approach with integrations, HIPAA-compliant functionality embedded, and the ability to blend async and sync care.
- Practice Management: Comprehensive administrative services run entirely by OpenLoop to save on hiring, training, and managing FTEs. Clients can confidently offload scheduling, insurance verification, code capture, pre-authorization and renewals, patient record management, workflow design, and performance reporting for next level practice growth.
- Revenue Cycle Management: Everything a telehealth practice needs from the first visit to the final payment. OpenLoop RCM provides EHR access, dedicated audit and billing teams, revenue cycle APIs, pre- and post-payment audits, financial reporting, guaranteed accuracy rates, and a deep focus on telehealth and cash pay.
FinSMEs
15/03/2022