HealthChampion Announces $5M Seed FundingHealthChampion | 10.07.2020
Digital health analytics company empowers consumers to own their health data.
HealthChampion, a digital health analytics company and creator of the world’s first consumer-driven health platform, announces the closing of $5 million in seed round funding.
Since its founding in 2018, the HealthChampion platform has connected tens of thousands of consumers to their own health data, giving them the information they need to take control of their health with personalized “pathways” and tools and to securely share with their family and providers. HealthChampion also provides a comprehensive view of health data for employers-at-large, providers, partners and payors; these entities see better health outcomes and engagement among their patients and employees who use the HealthChampion app.
“With the growing desire of patients to be more active participants in their own health, the movement towards the consumerization of healthcare shows no sign of slowing down. HealthChampion is at the forefront of this movement. “We are literally putting all of a consumer’s health data – healthcare records, personal health metrics, treatment plans, wellness tools – in the palm of their hand via our mobile app,” said HealthChampion CEO Terrence Ryan. “By reshaping the way data is used, leveraging today’s technologies, HealthChampion is creating a fundamental shift to the healthcare ecosystem.”
HealthChampion provides important benefits for consumers and for business, including:
Benefits for Consumers
- Better Outcomes, Easier to Manage – Proven reduction in acute care utilization, typically hospitalization
- Reduced Cost – Digital health provides a cost savings to consumers.
- Caring for Loved Ones – Remote monitoring and connected devices enable family members to easily manage care, even from afar.
Benefits for Businesses
- Reduced Readmissions – Engaged patients have 15% fewer readmissions
- Financial Benefits – Reducing no-shows can increase revenue $25k per year per physician
- Fewer Errors – Engaged patients have 17% fewer medical errors.
In addition to completing its first round of seed funding, HealthChampion was recently named a finalist for the 19th annual Chicago Innovation Awards. These awards recognize innovations that uniquely fill unmet needs, spark a competitive response in the marketplace, exceed market expectation, achieve financial success and improve people’s lives.
One of HealthChampion’s latest innovations helps patients who are preparing for and recovering from surgery. By putting surgery-related video, notifications, and automations all in one place, the HealthChampion app helps patients to know what to expect, to refer to care instructions on-demand and to ultimately feel empowered to manage their recovery and care. From a healthcare provider’s perspective, because the HealthChampion app can help prepare patients and their caregivers for recovery at home, it can proactively reduce call volume to the healthcare provider and improve patient outcomes and patient satisfaction.
“As a leader in healthtech, we are continuing to innovate in this space, and investors and the startup community are responding to that. HealthChampion presents a unique opportunity to align sophisticated data analytics models with the personalized care of both medical professionals and family caregivers,” added Ryan. “The next 12 to 18 months promise to be very exciting for our company as we continue to strengthen our platform, increase our capabilities, and grow our consumer engagement.”