OpenLoop raises $15M to boost digital care help providers | NEWSRUX

OpenLoop, which gives staffing and help to digital well being firms launching digital care providers, garnered $15 million in Collection A funding and introduced a nationwide payer community and income cycle administration service.  

Nava Ventures led the spherical with participation from PrimeTime Ventures, UnityPoint Well being Ventures, ManchesterStory and SpringTide Ventures. 

WHAT THEY DO

The Iowa-based firm gives regulatory and authorized help, telehealth infrastructure, supplier staffing, administrative providers and income cycle administration to firms constructing digital care providers. 

The corporate’s payer protection and income cycle administration service merges its nationwide payer protection clinician community with its income cycle administration choices to assist digital well being firms with the reimbursement and cost course of. 

“OpenLoop has seen superb development inside our firm within the final yr. Our dedication to offering digital care providers that concentrate on supporting superior and significant affected person care at each touchpoint is what’s pushed that success. We sit up for the alternatives this subsequent spherical of funding will carry to the corporate and our purchasers,” Jon Lensing, CEO and cofounder of OpenLoop, stated in an announcement. 

MARKET SNAPSHOT

In 2022, OpenLoop scooped up $8 million in Collection A funding, a yr after it closed an oversubscribed $3 million seed spherical.

One other digital care staffing and providers vendor is Wheel, which raised $150 million final yr in Collection A funding, bringing its whole increase to $216 million. In November, the corporate acquired GoodRx’s backend digital care expertise for $19.5 million in money. 

Nevertheless, Wheel was not proof against the latest string of layoffs amongst tech firms. Over the summer season, the Texas-based outfit laid off 17% of its workers, or 35 staff, and final month let go of 56 staff, or 28% of its workforce. 

Emily Kwan will provide extra element at her HIMSS23 session “Implementing an AI NLP Device to Deal with SDOH Wants.” It’s scheduled for Tuesday, April 18, at 1:30 p.m. – 2:30 p.m. CT on the South Constructing, Degree 1, S105 C.