Businesses, insurers and law firms that require a patient’s health records to complete commonly performed work continue to run up against a slow, disjointed, and paper-bound process. Recently funded startup MedChart is transforming how businesses access medical records that goes far beyond patient care.
“Our mission is to revolutionize the way legal, insurance, researchers, and other professionals access medical records in a fraction of the time,” said James Bateman, co-founder and CEO of Medchart.
Having recently raised $17 million Seed and Series A funding, MedChart is positioned to expand their operations in response to growing demand for its cloud-based health data platform. The funding round was led by Crosslink Capital and Golden Ventures with participation by Stanford Law School, Vast Ventures, Union Ventures, iGan Partners, and its original backer Nas.
The founding team very early on identified the widespread need by businesses for quick and safe access to patient-authorized health information. In very short order Medchart gained over 2,500 client healthcare providers and pharmacies, and more than 200 businesses and law firms across the nation. They are also now partnering with large North American insurers and clinical researchers across North America.
Much of MedChart’s success comes from their AI capabilities that provide greater insight for organizations to analyze patient records. Businesses also gain significant cost efficiencies when patient health information is exchanged easily and securely.
Matt Bigge, a partner at Crosslink Capital, will join Medchart’s board of directors. He was impressed by “how foundational [Medchart] has become to solving the massive challenge of data sharing and putting health information to use. Given its top-notch leadership team, there is no question that Medchart is a company we want to partner with to address a critical problem in a trillion-dollar market.”
