RubiconMD Takes Additional Investment from California Health Care Foundation
RubiconMD receives investment to grow access to specialty care for
Medicaid populations
NEW YORK–(BUSINESS WIRE)–RubiconMD, the leader in specialty eConsults, has announced a strategic
investment from the California Health Care Foundation’s (CHCF)
Innovation Fund. With the investment, CHCF supports RubiconMD’s
innovative approach to improving access to specialty care through
eConsults for primary care providers in Medi-Cal managed care plans. The
additional investment, on top of the company’s recently announced Series
A financing in May, led by Waterline Ventures, brings the total invested
capital in RubiconMD to over $6 million to-date. Existing investors in
RubiconMD also include Dioko Health Ventures, Alma Mundi Fund, health
technology giant athenahealth and former Blue Cross Blue Shield of
Florida CEO Bob Lufrano.
Specialty care is in short supply throughout California and statewide
data shows that Medi-Cal enrollees are twice as likely as those with
employer-based insurance to report difficulty seeing a specialist. These
barriers to accessing specialty care are even more acute for Medi-Cal
enrollees in rural areas, who report experiencing twice as much
difficulty as enrollees in urban areas. RubiconMD’s digital health
platform connects primary care providers to specialists enabling timely,
expert clinical advice through eConsults.
“CHCF sees great potential in using eConsults and RubiconMD’s approach
to improve access to healthcare for consumers in low-income or
underserved communities in California,” said Carl Bouthillette, Senior
Program Officer, CHCF Innovation Fund. “eConsults can improve access to
critical specialty care, especially in rural areas where there are
particular constraints to the supply of specialty care providers.”
“RubiconMD welcomes this investment and the opportunity it provides to
bring eConsults to California Medi-Cal beneficiaries,” said Gil Addo,
CEO and Co-founder of RubiconMD. “We believe RubiconMD’s eConsult
program will not only improve access to specialty expertise, but also
save patients time, and reduce their travel burden.”
eConsults on RubiconMD are managed through a web-based platform that
matches primary care inquiries to specialists for advice, with a median
response time of four hours or less. eConsults empower primary care
providers to make more informed decisions on patient care plans and
improve productivity. Studies have shown that eConsults can reduce
specialty referrals by 40% and decrease wait times by 50%.
About RubiconMD
Founded in 2013, RubiconMD is a web-based eConsult service that enables
primary care providers to quickly and easily discuss their cases with
top specialists, so they can provide better care—improving the patient
experience and reducing costs. We strive to democratize medical
expertise, so that all patient populations have access to the care they
need. Learn more at rubiconmd.com
and carewithoutconstraints.com.
About the California HealthCare Foundation
The California Health Care Foundation is dedicated to advancing
meaningful, measurable improvements in the way the health care delivery
system provides care to the people of California, particularly those
with low incomes and those whose needs are not well served by the status
quo. We work to ensure that people have access to the care they need,
when they need it, at a price they can afford.
The CHCF Health Innovation Fund brings entrepreneurial innovation
to support the CHCF mission by investing in new and emerging
technologies in the safety net. Find out more at www.chcf.org/innovation-fund.
Contacts
Media
RubiconMD
Christine Jacobson, 860-834-1603
press@rubiconmd.com
rubiconmd.com
