Luma Health Patient Engagement Platform enables healthcare providers and health systems to maximize patient outcomes across the entire patient journey.
Luma Health, a patient engagement platform, today announced $16 million in Series B equity funding, bringing total equity funding to $25.7 million. Led by PeakSpan Capital and with strategic investments from Cisco Investments, the Texas Medical Center, and continued investment from U.S. Venture Partners, Luma Health will use this round of funding to scale and meet the demands of its high-velocity growth.
Traditional Cumbersome Patient-Provider Communication Workflow
The daily process of staff and physicians conducting traditional patient communications by phone is lengthy, inefficient and hurts the bottom line, however, it’s one of the most common methods of communication. Additionally, there are regularly occurring obstacles when communicating by phone which leads to lower referral-turned-patient rates, lower patient-retention rates and a lower rate of refilled canceled appointments. Not to mention, the traditional way of patient-provider communications leaves patients waiting on average between 2-12 week to see a physician (primary + specialists included).
Orchestrate Your Patient’s Journey
Founded in 2015 on the idea that patients should easily be able to connect to their healthcare provider, Luma Health empowers providers to make this a reality through its total patient engagement solution, designed to modernize access, automate patient-provider communications, and help providers grow their business. In addition, Luma Health helps healthcare providers extract greater value from their EHRs by unlocking key insights to improve access and communication across the entire patient journey, from scheduling to maximizing patient outcomes.
Luma Health’s Value Proposition for Clinicians, Clinics, Patients
For doctors, it means a full schedule, better patient outcomes, and caring for more patients. For clinics, it means a more automated practice, more revenue, and higher MIPS scores. For patients, it means getting the care they need and experiencing next-level patient care. Needing to see a doctor is hard. Being able to see one shouldn’t be.
Luma Health Recent Milestones/Traction
Clinics and health systems across the country are increasingly demanding comprehensive solutions that drive patient access, facilitate patient communication, and help grow their business. Fueled by that demand, Luma Health has achieved stellar results by partnering with over 300 healthcare organizations across the US, reaching more than 7.5 million patients, a 150% growth in the past year.
This year, Luma Health formalized its partnership with Epic and announced additional EHR integration partnerships with athenahealth’s Marketplace and Nextech Systems to deliver increasingly seamless experiences. Additional collaborations include Uber Health and Cisco Webex Teams to help patients get the care they need when transportation or mobility barriers maybe in the way.
This new round of funding will help Luma Health continue to invest in patient access and communications by offering providers the solutions they need to acquire, engage, and retain increasingly sophisticated patients. Luma Health also plans to hire additional talent to expand the platform providers and patients both love, increasing its footprint among healthcare organizations ranging from small clinics to large health systems.
Why It Matters
“This latest round of funding will help us expand and get more patients to the care they need while also helping healthcare clinics and systems modernize their patient communication,” said Luma Health’s co-founder and CEO, Adnan Iqbal. “We are proud to have an allstar squad here at Luma Health, and we’re thrilled to continue building upon our work over the past four years.”