Grand Rounds, a care coordination startup that provides employees and their families expedited access to top physicians so they can achieve better health outcomes, has raised $55 million in Series C funding. The latest round includes global mutual fund investor, Greylock, Venrock, Harrison Metal and David Ebersman. The funding will be used to add additional staff, care team and accelerate its care coordination platform to improve hospitals’ contact with patients between visits.
Evidence-based approach for identifying quality physicians
Grand Rounds pairs patients with the physician experts most uniquely qualified to help them, nationally and/or locally. The Grand Rounds Quality Algorithm ranks physicians on metrics that are predictive of future outcomes, including where they practice, where they trained, research conducted, procedural volumes and patient outcomes data.
Chiefs, chairs and clinical experts from 115 leading institutions are available for remote patient access on the Grand Rounds platform. Of the roughly 770,000 active U.S. physicians, 96 percent have been rated by the Grand Rounds quality algorithm to help guide patients to top-quality local care.
Grand Rounds creates measurably better healthcare outcomes and optimizes healthcare spend at three tiers of service:
1. Opinions – Expert second opinions from world-class physicians, fast, hassle-free and at the touch of a button.
2. Access – More than just expert opinions—give your employees access to leading physicians for in-person office visits and STAT in-hospital consultations.
3. Complete – Integrates with your plan design to guide healthcare decisions, drive employee utilization and maximize impact.
“The U.S. spends over $40 billion annually on spinal surgeries alone. That is nearly a third of federal education spending,” said Bryan Roberts, partner at Venrock. in a statement “If these patients received a Grand Rounds consultation as part of their decision-making process, we could save $24 billion in avoidable procedures, not to mention the associated complications and diminished quality of life. This goes far beyond cost savings — Grand Rounds actually gives more value to the patient, rather than taking services away. We are proud to help Grand Rounds democratize access to the world’s best medicine.”
With coverage in more than 120 countries, over 50 leading companies are putting Grand Rounds’ expertise and technology to work in granting their employees an all-access pass to the best in American medicine.
