What You Should Know:
– PocketHealth, a Toronto, CA-based patient-centric platform for medical image exchange raises $33M USD ($45 million CAD) in Series B funding led by Round13 Capital with participation from Deloitte Ventures, Samsung Next.
– PocketHealth plans to use the latest round of funding to develop its secure platform, streamlining image exchange between patients, providers, and any healthcare facility. In addition, PocketHealth plans to double its workforce and significantly expand its reach across the US and Canada.
Giving Patients Control and Providers Efficiency
Founded in 2016 by the Nayyar brothers, PocketHealth empowers patients with secure access to their medical images, fostering a deeper understanding of their health. For healthcare providers, PocketHealth offers a next-generation platform for seamless and secure exchange of diagnostic images with patients and colleagues.
Key Features of PocketHealth:
- Flexible Image Sharing: Patients can share images securely with anyone, across any network, or leverage PocketHealth’s Community Gateways for automated image exchange within a healthcare network. This eliminates reliance on outdated methods like CDs or inefficient portals.
- AI-powered Patient Insights: PocketHealth utilizes AI to empower patients with:
- Report Reader: Explains complex medical terms in their reports.
- Follow-Up Navigator: Identifies the need for follow-up imaging, encouraging patients to stay on track with their care.
- MyCare Navigator: Equips patients with relevant questions to ask their doctor.
Measurable Results
PocketHealth’s impact extends beyond convenience. Studies show:
- 87% of patients: More likely to return to the same provider when they have access to their images through PocketHealth.
- Reduced Costs and Increased Efficiency: Healthcare institutions have reported significant operational improvements and cost savings.
- Examples of Success:
- Valley View Hospital (Colorado): Reduced non-labor costs associated with CDs by 95%.
- Unity Health (Toronto): Saved over $120,000 annually and closed their imaging library.
“Medical imaging is the spark to nearly every patient journey, yet manual and legacy image sharing systems deemphasize patient access to their own data, generating unnecessary costs, and delaying patient care,” said Rishi Nayyar, Co-Founder and CEO, PocketHealth. “We’ve proven that when patients gain access to diagnostic-quality imaging and our industry-leading AI helps them understand their records, they are empowered to advocate for their care. The end result is increased patient satisfaction, a faster image sharing process for providers, and greater patient retention. Now, our goal is to make PocketHealth accessible to every patient at every provider across North America.”