Date: Nov 13, 2013 Source: MedCity News (
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As hospitals face increased penalties for higher than average readmission rates for an expanding list of conditions, companies that can prove their technology can reduce readmissions are winning healthcare investor confidence. RightCare Solutions, a health IT startup with technology developed by a Penn Nursing professor, has raised $5 million from existing investors, according to a company statement.
Domain Associates and Compass Partners led the Series B round. Led by CEO Eric Heil, the company will use the funding toward sales, marketing and investing in its operations.
Right Care's care transitions platform relies on a scoring system to determine which patients should be referred for post-acute services. Those post-acute care services can include long-term hospital care, rehabilitation care and skilled nursing facility care.
Last year, Right Care netted $1.76 million in a series A round. It has done several implementations with academic health systems demonstrating meaningful clinical improvements and return on investment. It's part of University of Pennsylvania's UpStart program.
