Moving Analytics Raises $1.1M for Home-based Patient Rehab Software
SAN FRANCISCO, CA — Moving Analytics, a company focused on digital solutions for patient rehab programs, announced Tuesday the close of a $1.1 million funding round, led by Launchpad Digital Health and including HealthX Ventures.
The San Francisco-based company will use the capital to further expand its first product, a home-based cardiac rehab solution, into the U.S. market. They also plan to further develop home-based COPD product to complement their existing offerings.
Moving Analytics’ first program helps hospitals increase participation in cardiac rehab by implementing convenient and affordable home-based programs with low staff overhead. The technology is a digital case management system for providers to track progress and a mobile app that engages patients to complete daily rehab tasks.
“A total of 2.5 million patients in the U.S. don’t receive adequate follow-up care after discharge from heart attacks or surgeries because of high cost and long distances to the hospital,” said Moving Analytics CEO and Founder Harshvardhan Vathsangam. “Our mission is to help hospitals provide rehab to all eligible patients and by doing so, help them earn additional revenue and bring down readmission costs.”
Moving Analytics’ product is based on MULTIFIT, an evidence-based cardiac rehab program and chronic care management system developed by world-renowned researchers at Stanford University. The paper-based program has been used on over 70,000 patients and is widely considered the best-in-class program for post-acute heart care.
“We are delighted to lead this round of financing for Moving Analytics alongside HealthX Ventures,” said Fred Toney of Launchpad Digital Health, a seed fund and accelerator based in San Francisco. “This proven program for cardiac and other rehab programs allows for use in the home utilizing the company’s technology platform, leading to the same improvements for patients without requiring inpatient followup.”
After a patient has a cardiac event and is discharged, a provider uses the Moving Analytics software to generate a care plan for the patient and send this plan to his or her mobile phone. Typical aspects of the care plan include exercise management, medication reminders, tracking vital signs, education and counseling. At home, the app guides the patient through a series of supervised exercises, delivers educational content and provides an easy to use interface to track vital signs and chat with his or her provider. The provider can use the web-portal to track patient progress, manage patient timelines, provide counseling and modify care plans.
“Rehabilitation programs are time consuming and often inconvenient for patients, and as a result they aren’t going to their appointments or completing their therapy. We’re excited to support Moving Analytics in their mission to help health systems make their programs more convenient and accessible for patients, enabling the patient to better stay on top of their rehab,” said Mark Bakken, managing partner of HealthX Ventures, a venture capital fund based in Madison, Wis.
Moving Analytics has several prestigious clients from some of the leading medical institutions throughout the U.S., including California, New York, New Jersey, Florida and Georgia. The company is currently in San Francisco participating in the extensive one-year Launchpad Digital Health accelerator program.
About Moving Analytics
Moving Analytics is a digital health company based in Los Angeles, CA. Moving Analytics’ first product helps hospitals implement technology-enabled cardiac rehab programs that patients can do in the comfort of their homes. Moving Analytics provides a turnkey program that includes evidence-based clinical protocols, online case management system, mobile application for patients and implementation support. They are working with 10 leading hospitals across the United States including Langone Medical Center and Keck School of Medicine.
About Launchpad Digital Health
Launchpad Digital Health is a next generation seed capital + accelerator: more capital, more time and more intensity for its portfolio companies and their founders. The firm has been recently named in the top 4 digital health investors in the world, and it has 16 portfolio company investments to date. Each company accepted into the program receives capital in the form of up to a $500,000 investment, more time commitment in the form of a full one year-long program co-located with other startups in digital health sector and the Launchpad Digital Health founders, and more intensity in the form of daily and weekly engagement with Launchpad Digital Health¹s founders, partners and mentors. The founders of Launchpad Digital Health have funded and operated companies throughout the healthcare and technology sectors, including digital health companies, for the past two decades.
About HealthX Ventures
HealthX Ventures is a digital healthcare focused venture capital fund based in Madison, Wisconsin. HealthX Ventures supports early/seed stage, high-growth companies in all areas of digital health, including companies who are making healthcare safer, more efficient and more affordable. The firm is investing out of its flagship fund, and is led by experienced entrepreneurs, investors, and industry experts who have grown companies and led change across the healthcare system.