Modernizing Medicine Announces $231 Million Equity Investment from Warburg Pincus
Financing to Support Growth and Advance Innovation for Surgical and Medical Specialties
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Founded in 2010 by
Modernizing Medicine’s success can be attributed to its development of technology to support the unique needs of physicians in surgical and medical specialties. With the premise that it was easier to teach physicians how to code software rather than for engineers to learn medicine, Modernizing Medicine hired practicing physicians to build EHR software. The results of this model and time-saving features such as adaptive learning and automated outputs supported by structured data collection have been embraced by physicians. The company now offers a full suite of products and services to empower physicians including Practice Management, Revenue Cycle Management, Telehealth for dermatology, Analytics and more.
With the latest round of funding, the company anticipates pursuing certain strategic initiatives, that may include automation of prior authorization workflows, deployment of an eCommerce platform, investment in data exchange and reconciliation to help practices move clinically relevant data effectively throughout the evolving ecosystem of a patient’s healthcare experience and improvement of access to healthcare via telemedicine.
Modernizing Medicine is also pleased to welcome
“We expect this infusion of capital from
“Modernizing Medicine’s innovative, market-leading technology is used by thousands of specialty practices and ambulatory surgery centers and is focused on improving both business and treatment outcomes,” said
Evidence of the company’s success is the announcement that the dermatology, gastroenterology, ophthalmology, otolaryngology, plastic surgery and urology EHR systems were each ranked #1 by Black Book™ on the Physician Practice & Ambulatory Solutions lists. This is the seventh consecutive year that the gGastro™ gastroenterology EHR system ranked first, and the fourth consecutive year that the EMA™ dermatology EHR system earned the top spot. Read the press release here.
About Modernizing Medicine
Modernizing Medicine® and its affiliated companies empower physicians with suites of mobile, specialty-specific solutions that transform how healthcare information is created, consumed and utilized to increase efficiency and improve outcomes. Built for value-based healthcare, Modernizing Medicine’s data-driven, touch- and cloud-based products and services are programmed by a team that includes practicing physicians to meet the unique needs of dermatology, gastroenterology, ophthalmology, orthopedics, otolaryngology, pain management, plastic surgery, rheumatology and urology practices, as well as ambulatory surgery centers. Connect with Modernizing Medicine on our Blog, Facebook, LinkedIn and Twitter. Modernizing Medicine is a member of
About
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than
The firm is headquartered in
*‘CommonWell Health Alliance’ and the CommonWell logo are licensed trademarks of
View source version on businesswire.com: http://www.businesswire.com/news/home/20170510005295/en/
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