Elation Health (formerly known as ElationEMR) , a SF-based health tech startup has raised $15 million in Series B funding led by DFJ, with participation from angel investors including former president and CEO of Stanford Hospital and Clinics, Martha Marsh; and co-founder of Quora and creator of the Facebook Platform and Facebook Connect, Charlie Cheever.
The company was founded by siblings Kyna and Conan Fong. Kyna, previously a professor at Stanford, and Conan, a former healthcare consultant, built Elation in their father’s primary care practice. They built the Elation Health EHR platform for independent physicians to solve one of healthcare industry’s biggest challenges — provide patients with long-term, coordinated care across the healthcare system.
In the past year, Elation’s revenues have grown 80% year-over-year and the number of users have grown more than 60% since last October. The Chinese Community Health Care Association in San Francisco is currently a client, where the platform connects a group of physicians who coordinate care for more than 25,000 patients. In Hawaii, the platform serves more than 13% of patients on the islands — giving providers powerful insights into health outcomes across the population.
Today, the Elation platform reaches more than 200,000 providers and connects more than two million patients to their providers in a dynamic health information network that enables providers in different organizations to share information and collaborate on mutual patients at the point of care.
It also helps physicians better manage new reimbursement policies that have been introduced by Centers for Medicare and Medicaid Services (CMS) that will pay physicians on performance vs. the traditional fee-for-service model. These policies will see dramatic new changes in the way that independent physicians are being compensated and is forcing independent physicians to think differently about how they market and run their businesses.
Carving out marketshare in the EHR market is still an uphill battle for a small vendor like ElationHealth. Only time will tell if Elation will be able to survive or get acquired by another larger EHR vendor.