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DrChrono EMR Raises $2.8 million and Has 15,000 Registered Providers

Posted on January 30, 2012 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

A few days ago the news came out that Y Combinator startup company DrChrono has raised another $2.8 million in funding. Here’s the summary from Techcrunch:

Drchrono, a startup that simplifies the professional lives of doctors by bringing electronic health records and much more to the iPad, has raised $2.8 million in funding led by Yuri Milner, with Google’s Matt Cutts and other investors participating. The startup had previously raised $1.3 million in seed funding from Milner, General Catalyst, Charles River Ventures, 500 Startups, Gmail creator and FriendFeed cofounder Paul Buchheit, Cutts, and the Start Fund.

It’s an interesting mix of people that are funding DrChrono. Matt Cutts interests me a bunch since he works on the search engine team at Google in charge of Spam. Obviously, this is a quite different space.

The most interesting information in the Techcrunch article is the number of providers and patients that DrChrono has in its system.

The company also announced it now has more than 15,000 registered providers, and more than 400,000 patients using the drchrono platform.

Of course, we know how EMR companies are with these numbers. It’s one thing to have a registered provider and it’s quite another to have them actually using the EHR software. Also, I can’t help but wonder if the 400,000 patients includes imports of a physicians past patients. I’d love to hear some real numbers. For example, how many daily active users (doctors) do they have using their iPad EHR?

I also find it interesting that DrChrono has only taken $4.1 million in funding versus funding like CareCloud’s $27.3 million and Practice Fusion’s $38 million. Seems like DrChrono has chosen the much more conservative EHR software route as opposed to the more ambitious healthcare platform route that the others are working on.

Investment in Healthcare IT

Posted on September 19, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

The healthcare IT investment area has been really interesting lately. We have all sorts of healthcare focused incubators popping up. The Startup Weekend mega event had healthcare as one of its three focuses (I was sad I couldn’t attend this event). Lots of people are talking about healthcare as a place ripe for IT innovation.

Dan Munro latched on to some of this health IT investment in a really interesting post. Here’s a section of his post near the end:

I have no insight into the applications for either Healthbox or Blueprint, but Rock Health had over 350 applications for their first cohort of 11 companies. That ratio is farily common – although Y-Combinator’s Winter 2011 cohort was 43 companies (99 founders). The sheer number of applications to Rock Health indicates the strength of the Rock Health program (location + strong network + zero dilution). It also highlights the sheer volume – 350 teams (worth repeating) – committed to making a difference in healthcare. That. Is. Awesome! We need to foster, encourage and promote all those people and that activity – collectively – in every way that we possibly can. Maybe he should be, but the next Mark Zuckerberg isn’t toiling away inside Harvard thinking how he can move the U.S. Healthcare system into the 21st Century. Whatever “it” is at that age and location – it better involve large doses of the opposite sex, a different type of pharmaceutical and some form of loud music.

Simple math says that 20 companies (2 cohorts per year) at $20k each plus rent, payroll, legal and all the other expenses should be less than $2M per incubator per year. Our $8M “innovation” fund (from the $395M balance) could easily support 4 more incubators – in say San Diego, Austin, Seattle and Phoenix. 7 incubators running 20 companies equals 140 companies innovating in healthcare – per year.

Of course, the biggest problem with Dan’s idea is that the government doesn’t like to invest money this way. For some reason, that almost seems unacceptable for a government to invest money in these companies that have a high probability of failure. Even if we can see how this type of innovation could provide some really interesting benefits to healthcare. Plus, $8 million for 140 companies. That’s a pretty interesting number to me.

I love the incubation idea and I’m glad that it’s started to go in healthcare. I hope it’s incredibly successful. Either way, it’s going to be really fun to watch the innovations coming out of these investments. An EMR company has already come out of the most famous incubator: Y Combinator. I don’t see why other EMR and healthcare IT companies couldn’t do well also.

Note: I think one of those incubators should be in Las Vegas. Although, I’m admittedly biased towards Las Vegas Startup companies.