MD Insider, a big data healthcare innovator that significantly reduces healthcare costs for employers, today announced that it closed a $1.5 million investment – the largest online investment round ever raised on AngelList, the leading technology startup equity investing platform. The syndicate was led by renowned investor, Tim Ferriss, best-selling author and early investor/advisor to companies including Facebook, Twitter, Evernote, and Uber. MD Insider is now the #1 most active company and the #1 company (by size of investment) on AngelList.
“MD Insider is a truly disruptive business, so it is exciting to include another disruptive model – crowdfunding, as part of this investment round,” said David Norris, CEO of MD Insider. “We are very pleased with the results and are happy to see so much demand for investment in our business.”
Syndicate Round Details
MD Insider’s round included more than 90 individual investors and filled in just minutes, with hundreds of other investors unable to participate after the round became almost instantly oversubscribed. From start to finish, the entire round took only about two and a half weeks to close and wire. MD Insider will use the new funds to expand its research and development efforts and to continue to grow their industry leading pool of physician performance data, which currently tops 1.8 billion records.
The MD Insider Solution
The MD Insider Solution provides Physician Performance Transparency in the areas of experience, quality and cost that empowers their consumers with the critical facts they need to make truly informed decisions about doctors. The solution gathers data on over 1.2 million doctors to uncover all the details you want to know– the number of procedures each physician has done over the past 36 months, total cost per procedure/treatment, the procedure outcomes, and so much more.
Armed with this information consumers can evaluate and decide—all based on your distinct criteria and specification—which doctors perform most effectively on behalf of your constituents. Effective doctors get patients well faster, helping lower costs for everyone.
The company also offers an enterprise solution for companies that allows employees to simply search based on their health care criteria. In a matter of minutes they will have access to never-before-seen physician performance stats allowing them to compare experience and cost, and make informed decisions about their doctors. Better doctors help patients get well faster—with fewer claims and complications. Fewer claims means lower costs.
“I am very excited about MD Insider. Their mission to provide performance and cost transparency in healthcare is hugely important,” said Tim Ferriss. “I believe MD Insider is truly disruptive and will have a large impact on the world. I can see several things already: the need in my own personal experience with medical problems, the demand in the healthcare market, and the broader applications of their amazing data set.”
