With Obamacare legislation going into full effect next year, the system is in for a shock. Depending on whom you ask, this could have negative consequences, with millions of Americans paying more for healthcare, losing coverage or seeing reduced hours. Or, on the other hand, it could be a godsend for the 30 to 40 million uninsured who will be free to purchase coverage for the first time.
When it comes to diagnoses and the possibility of undergoing serious procedures, we want second opinions (and trustworthy referrals) whenever we can get them. So, with tens of millions slated to receive coverage for the first time — and for millions who could experience higher costs — one Bay Area startup sees a huge need for trustworthy, affordable online resource for second opinions, and referrals. And, potentially, a huge business.
Conceived by Reputation.com co-founder Owen Tripp and chief of interventional radiology at Stanford Hospital, Dr. Lawrence Hofmann, ConsultingMD launched in early 2012 with a solution. Since then, the startup has been on a mission to streamline the diagnosis process and help patients connect with top specialists for speedy second opinions. In other words, it wants to be the “Mayo Clinic of the Web,” as The Wall Street Journal intoned in February.
Investors are intrigued; particularly, a firm that has quite a bit of experience investing in Health IT companies. Today, ConsultingMD announced that it has raised $10 million in series B financing from Venrock. While Tripp (like every founder on the planet) says that the company had interest from a range of investors, the company chose Venrock because he sees them as the “leading venture firm” when it comes to healthcare IT, and one that is committed to “advancing patient-centered care.”
Updating
Gregory Ferenstein 21 May, 2013
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Source: http://techcrunch.com/2013/05/21/consultingmd-lands-10m-from-venrock-to-bring-speedy-referrals-and-second-opinions-online/
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