Mobile EHR company DrChrono scores $12M to build out telehealth services

DrChrono, maker of a mobile-friendly EHR, billing and practice management platform, announced exclusively to MobiHealthNews that it landed $12 million in growth funding from ORIX Growth Capital.

This comes a year and a half after the company announced $20 million in growth capital also from ORIX.

WHAT THEY DO

“Really the core of the company is a platform that has several modules, one of the modules being medical records, another module being practiced management, and another module being medical billing,” Daniel Kivatinos, Co-founder and COO, told MobiHealthNews. “Today we’re doing roughly four-hundred thousand appointments per week, and that’s growing at a really great rate.”

During the pandemic, the company saw how providers were struggling to reach their patients. That kick-started conversations at DrChrono about supporting physicians with telehealth services.

“We have an API and we have all these customers on DrChrono, all of these patients. We allowed any telehealth partner to come on top of DrChrono and they would connect in, plug into Dr. Chrono,” he said. “They’re able to partner with the company, exchange data and then launch all on their own. So, we had, give or take, about six partnerships that were live for the coronavirus last year, and that really helped support the providers with their needs in terms of seeing their patients.”

Like many in the digital health industry, the company also began to create its own tool focused on telemedicine.

“On top of all of that, DrChrono launched our own telehealth experience. And with that telehealth launch, we give the provider options. If you want to use Dr. Chrono, do you want to use one of our partners? And then they can plugin and then start seeing patients through us or through one of the partners. DrChrono’s telehealth just hit a milestone of one hundred thousand appointments,” Kivatinos said.

WHAT IT’S FOR

The new funding will be used towards the company’s telehealth efforts. Additionally, DrChrono plans to expand its operations and products in EHRs, practice management, medical billing and API technology.

Kivatinos said that the company is interested in continuing to look at remote care in the future.

“Also with the coronaviruses, we decided we’re going to really focus on getting partnerships that really, really support the provider in a remote environment,” Kivatinos said.

MARKET SNAPSHOT

Since the pandemic, DrChrono has been busy. In February DrChrono launched an open FHIR API that allows for the transfer of patient’s data from the company’s OnPatient personal health record (PHR) to Apple Health, the iPhone-based PHR launched by the tech giant in 2018.

In May of 2020, the company announced its new telehealth capabilities that fully integrate with its mobile EHR billing and practice management platform.

The company has also inked a slew of deals with EHRs, health systems and digital health companies including EHRsynergy, ClearGage, KeepWell.


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