BlueCross BlueShield Venture Capital Firm invests in Phreesia
Posted Feb 19 2009 5:29pm
The BlueCross BlueShield 116 million dollar Venture Capital firm makes an investment in the “free” tablets that are provided to the physician at no charge, supported by advertising that runs on the units. They run on a Windows CE operating system and use the continuity of care platform to send information to an electronic medical records system if one is in place. If not, the units can print a paper copy.
Some are not supportive of using one due to the ads that run. The units also have a card swipe device on the end. One thing also to consider is the hand off from patient to patient though and keeping the units clean. I have seen the units and they are ok, and depending on the demographics of the patients in the practice, the success of the units being of use might be an issue. The office I visited did not have the connection set up to use an electronic medical records system and the information was being printed out. As mentioned in the statement about the venture, the Fund is dedicated to provide consumer options that will lower cost and create savings through efficiency in the US, same old risk management mission and where some of the premium money spent by consumers could be going. BD
Phreesia, maker of electronic tablets to replace those pesky intake clipboards at doctors’ offices, announced today that it brought in $11.6 million in a round led by BlueCross BlueShield Venture Partners and Sandbox Industries. This brings the New York company’s total capital raised to $25 million — which it plans to use to enlist more doctors to use the product in the U.S. According to Phreesia, thousands already do.
Paul Brown, Managing Director of BlueCross BlueShield Ventures, Inc., said, "BlueCross BlueShield Venture Partners is committed to ensuring that providers are able to deliver the best care possible to patients. In Phreesia we are investing in a healthcare company that is demonstrating enhanced clinical outcomes for patients and more accurate, hassle-free information for physicians. Our providers and members will benefit from improved monitoring of treatment response and overall support of measurement-guided care."
The following Plans are part of the Venture Capital Organization:
• BlueCross BlueShield of Delaware (DE) • BlueCross BlueShield of Hawaii (HI) • Blue Cross of Idaho (ID) • BlueCross BlueShield of Massachusetts (MA) • BlueCross BlueShield of Michigan (MI) • Blue Cross of Northeastern Pennsylvania (PA)
• Capital Blue Cross (PA) • CareFirst (MD, VA, DC) • Health Care Service Corporation (IL, TX, OK, NM) • HealthNow (NY) • Independence Blue Cross (PA)