– Navigating Cancer raises $26M in Series D funding in an over-subscribed round (TTCP) for its comprehensive oncology patient relationship management solution.
– Navigating Cancer’s PRM platform helps providers manage patient interactions, improve the patient experience, and deliver value-based care more effectively – increasing the flow of communications between in-office visits, which, in turn, boosts patient engagement in their own care.
– Funding will enable NC to accelerate innovation of its Patient Relationship Management (PRM) platform, including the delivery of a more robust mobile experience for oncology patients.
Navigating Cancer (NC), a Seattle-based comprehensive oncology patient relationship management solution for enabling personalized cancer care, announced today it has raised $26M in Series D growth equity funding. The over-subscribed round was led by the Merck Global Health Innovation Fund (GHIF) and TT Capital Partners (TTCP) with participation from BrightEdge, the American Cancer Society’s newly formed philanthropic venture fund; LabCorp; ORIX Growth Capital; and Rustic Canyon Partners.
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Enabling Personalized Cancer Care
Founded in 2008, Navigating Cancer’s oncology patient relationship management (PRM) platform helps providers manage patient interactions, improve the patient experience, and deliver value-based care more effectively – increasing the flow of communications between in-office visits, which, in turn, boosts patient engagement in their own care. NC’s platform also helps providers contain escalating costs. According to a study published in the Journal of Oncology Practice, two community cancer centers utilizing NC’s PRM platform generated significant cost savings due to better symptom management, while reducing emergency room visits by seven percent.
Specifically, patients using the PRM platform can send messages to their doctor, receive reminders to take their medications, and report symptoms via a mobile app. Care providers, meanwhile, can triage patient needs; assess and manage symptoms and side effects, and streamline communications and care coordination for quicker responses.
Going forward, innovation in the PRM platform will incorporate artificial intelligence to support the assessment of patients at risk for various issues and identify proactive interventions to help improve care.
Recent Traction/Milestones
To date, the company’s end-to-end software platform, adopted by more than 1,700 cancer care providers domestically, uniquely connects providers and their patients throughout the care cycle. The Series D funding will enable NC to accelerate innovation of its Patient Relationship Management (PRM) platform, including delivery of a more robust mobile experience for oncology patients and the development of NC’s AI-based population care capabilities. With NC’s platform, oncology practices are able to increase patient engagement, create a more responsive experience for cancer patients, and ultimately improve overall cancer care.
Navigating Cancer is on pace to grow its oncology customer base by 40 percent this year. Accelerating adoption of NC’s unique platform is enabling more practices to succeed in delivering value-based care, a model that pays hospitals and physicians based on patient outcomes as opposed to fixed fees based on the service provided. The latest round brings the company’s total funding to date at $44 million.
Helping Oncology Provider Make The Shift to Value-Based Care
This investment from these leading healthcare organizations really affirms the work that Navigating Cancer is doing to improve patient care and the success we’re seeing in helping oncology providers make the shift to value,” said Bill Bunker, the CEO of Navigating Cancer. “I’m excited about the innovations we’re making in areas like patient-reported outcomes and population care and the potential they have to further improve patient outcomes and satisfaction.”
Date: September 23, 2019
Source: HealthSonar
