An article on Healthcare Informatics caught our eye. It summarizes a recent presentation by Johns Hopkins CMIO Peter Greene and concludes as follows:
Greene believes that once EHRs have been in place for a while, there will be an emphasis on improving their usability. “Our medical students have extraordinary expectations,” he said. “They want an app to use and if it’s no good, they want another app to try. That’s the bar we have now. The systems still are very hard to use. The vendor community is exhausted with trying to keep up with some of the requirements that they have,” he said. “But we really need to focus on this, because it has become a distraction from good care, and better is certainly possible.”
For our customers, the time is now for a better clinical experience and user interface, which is why they are working with QPID. QPID sits on top of virtually any EHR and delivers relevant patient intelligence directly into clinical workflows. This saves clinicians from scrolling through pages of notes or searching with inadequate tools for data that is inconsistently stored.
We look forward to hearing from you if you are ready to address what Greene calls “a distraction from good care” engendered by systems that are not designed to support care delivery.
Contact us to learn how QPID solves the problem of usability.
QPID Health, an electronic health records spinout from Massachusetts General Hospital, has received a $12.3 million investment from New Leaf Venture Partners.
Launched last February, the Boston-based startup completed it’s Series A funding in March 2013, which came from Cardinal Partners, Matrix Partners, the Massachusetts General Physicians Organization and Partners Innovation Fund. Today’s Series B funding was supported by all previous investors and led by New York City-based New Leaf.
The company said it will use the investment to accelerate the growth of the company and support wider use of its software, which is designed to work with other EHR programs. The company said that over the course of last year, its first year of commercial operation, it ended the year with 4,000 active clinical users, and grew by another 1,000 in the first quarter of 2014.
A colonoscopy isn’t one of those appointments that you can just show up for.
As anyone who’s had the pleasure of undergoing the procedure will certainly tell you, there’s a lot of preparation involved to make sure the bowel is empty enough for your doctor to see what’s going on.
Now imagine running through that mini-marathon of dieting and laxatives just to have the hospital realize you’ve got a health condition—a prescription for blood-thinners, or a breathing disorder like sleep apnea—that could complicate the procedure.
And that could mean it’s time to reschedule the whole thing.
“That happens, believe it or not, a lot across the country,” says Mike Doyle, CEO of Boston startup QPID Health.
But one place it doesn’t happen, he adds, is Massachusetts General Hospital. Instead of conducing last-minute checks with a patient, doctors and nurses there can rely on QPID Health’s software, which analyzes medical records and extracts important data about possible complications.
Dow Jones VentureWire, Feb. 18, 2014 As health-care providers move their record-keeping from paper files to digital formats, they continue to face the daunting task of digitizing handwritten notes by doctors, who are not generally known for great penmanship.
QPID Health Inc ., a company that aims to use natural-language processing to get around the problem, says it has raised a $12.3 million Series B round. The company will use the funding round to hire more engineers, as well as more sales personnel who can help the company snag new customers, Chief Executive Mike Doyle said.
The round was led by new investor New Leaf Venture Partners, joined by returning investors Matrix Venture Partners, Cardinal Partners, Partners Innovation Fund, the Massachusetts General Physicians Organization and company founders, Mr. Doyle said. Valuation was not disclosed.
QPID is one of a number of companies aiming to help care-providers with the task of digitizing patient records, which is mandated by federal law.
The Boston-based company overlays its natural-language processing engine on top of a digitized medical library to make sense of handwritten notes and other, so-called “unstructured” medical data, which many say makes up as much as 80% of any given patient’s medical records.
New Leaf Venture Partners leads round to accelerate company’s growth and meet market demand for its clinical intelligence solution
Boston – May 6, 2014 – QPID Health, which has committed to bringing clinical intelligence to healthcare providers to improve outcomes and lower costs, today announced a $12.3M Series B round of funding led by New York City-based New Leaf Venture Partners. The company will use the investment to meet the market demand for its clinical intelligence solution, which promotes cost-effective and high quality patient care by making it easy for clinicians get access to patient data stored in electronic health records (EHRs) and other backend data repositories. The QPID software, which sits on top of virtually any EHR, has proven that it can generate a strong ROI for hospitals and physician practices. QPID Health welcomes New Leaf’s Managing Director Philippe Chambon to its board of directors.
Today’s investment enables QPID to accelerate the growth of the company and support wider use of its proven software solution in leading hospitals and healthcare systems in the U.S. Current customers include Massachusetts General and Brigham & Women’s Hospitals as well as other members of the Partners HealthCare system. Implementations in other leading medical centers across the country are under way.
“We are seeing high demand for the QPID solution because it provides a truly clinician-friendly interface that is built on the rich data in EHRs but is presented in a way that makes sense to users and eliminates the noise,” said QPID Health CEO Mike Doyle. “Knowledge of the patient’s relevant history – including diagnoses, procedures, test results and potential safety concerns – is essential for making choices that are good for the patient. Further, QPID’s unique ability to activate complex guidelines and models in the moment, for the clinical trench, also helps hospitals eliminate waste and use resources wisely. Although health systems have invested millions of dollars in electronic health records, it’s clear that more data does not mean more efficiency. With QPID, healthcare providers can optimize the value of the digital data that they’ve captured in EHRs because of our unique ability to aggregate the right information and deliver it at the right time.”
Philippe Chambon, Managing Director of New Leaf Venture Partners, said: “QPID’s solution addresses a major challenge for physicians who must access patient information at the point of care. This allows physicians to regain control of their workflow and facilitates their ability to interact with patients. QPID is the clear leader in this space and I am excited to work with the company as they rapidly advance their commercialization efforts.”
In a scalable cloud-based architecture, QPID uses advanced concept-based natural language processing (NLP) to extract clinical intelligence from data stored in EHR systems and other clinical repositories. In 2013, its first year of commercial operation, the company supported a steadily growing user base, ending the year with 4,000 active clinical users, representing 2.96M clinical encounters and impacting 340,000 patients. In the first quarter of 2014 usage has grown to nearly 5,000 clinician users.
This financing round was led by New Leaf Venture Partners and supported by all investors who participated in the Series A round. The company previously raised a $4.4 million Series A round which closed in March 2013 from Cardinal Partners, Matrix Partners, the Massachusetts General Physicians Organization (MGPO) and Partners Innovation Fund.
About New Leaf Venture Partners
New Leaf Venture Partners is a leading healthcare technology venture firm. We invest broadly across healthcare-related information technology companies as well as both public and private biopharmaceutical companies.
New Leaf currently manages two funds: New Leaf Ventures I, L.P., and New Leaf Ventures II, L.P. (NLV-II), as well as the healthcare technology portfolio of the Sprout Group, one of the oldest U.S. venture capital fund groups. New Leaf’s current active fund, NLV-II, has committed $80 million to companies in the healthcare IT sector and $270 million to firms in the biopharmaceutical sector. For more information please visit http://www.nlvpartners.com.
About QPID Health
QPID Health’s clinical intelligence software automatically delivers relevant patient information from electronic health records and other data sources into clinical and administrative workflows. With QPID, clinicians are more productive, patients benefit from decisions based on their complete health information, and hospitals gain cost efficiencies. The QPID solution was developed at Massachusetts General Hospital and usage spread virally throughout the Partners HealthCare system. QPID Health launched in late 2012 to bring the power of QPID to health systems nationwide. Investors include Cardinal Partners, Matrix Partners, Massachusetts General Physicians Organization, New Leaf Venture Partners, and Partners Innovation Fund. Visit www.dev.qpidhealth.com for more information.
I’m delighted to let you know that QPID Health has closed its Series B round of funding. The $12.3m round was led by New Leaf Venture Partners and joined by all investors who participated in the Series A round. Proceeds will be used to accelerate the growth of our team and meet the demand from hospitals and practices to get clinical intelligence from the growing mass of digital patient data locked in EHRs. By “clinical intelligence” we mean the aspects of the patient’s history and status – including diagnoses, procedures, test results and potential safety concerns – that clinicians need to make the best decisions in the clinical trench, while avoiding the wasteful use of resources the comes from lack of access to information.
We are excited about the future of the company and look forward to the contribution of Philippe Chambon and his team at New Leaf, as well as the continued support of our initial investors. We are especially grateful to our customers who are true partners in innovation with QPID.
All of us members of the QPID team feel lucky to be able to contribute to improving healthcare in the U.S., and our funding gives us the means to accelerate our work.