Enterprise telehealth company SnapMD, which provides a variety of white-labeled virtual care tools to hospitals, has raised $7.1 million in new funding. Existing investors contributed to the Series B round, which brings the company’s total funding to $16.3 million.
“With SnapMD’s recognition as the most advanced telemedicine platform in the world, our white-label telehealth solution enables healthcare providers to extend their offerings under their own brand and with their own physicians,” Dave Skibinski, president and CEO of SnapMD, said in a statement. "The new investment allows us to continue to further drive our marketing and business development efforts in support of our rapidly growing provider base across the country.”
SnapMD, which makes the Virtual Care Management platform, has recently completed a number of high-profile deals, working with the University of Mississippi Medical Center National Telehealth Center of Excellence and the University of San Diego Hahn School of Nursing and Health Science’s competency-based telehealth curriculum.
In May, SnapMD made a deal to provide its platform to the American Academy of Pediatrics' Member Advantage Program, giving 66,000 US pediatricians, surgeons, and specialists access to virtual visits as a complement to normal in-person care.
SnapMD focuses on creating telehealth partnerships that include both remote patient monitoring and virtual visits, with the goal of tackling the full range of conditions that hospitals treat.
“In many minds, telemedicine has become single episodic low-acuity care — high-volume low-acuity interactions for coughs and colds and things like that,” Skibinski told Babyforyou.net.ua in a recent interview. “But for value-based care, and to affect the cost curve in healthcare, while you have to meet the needs of the consumer there, the greater need for the health system is to focus on how can we better deliver care, and better outcomes at lower costs, for the 20 percent of Americans that consume 80 percent of the healthcare dollars. And a virtual care approach can do that versus a video chat approach.”
The company plans to use the funding to improve the platform, as well as expand its sales and marketing efforts.