QuantiaMD Closes $12 Million Expansion Round
New Investment Fuels Client Growth in Payer and Provider Markets
WALTHAM, MA — OCTOBER 30, 2012
, the largest online physician community and collaboration platform, today announced it has closed a $12 million expansion round from existing investor, Fuse Capital
. The funding will be used to meet the growing demand from payers and health systems that need to engage and align physicians to achieve important objectives and goals that lead to improved quality of care.
With more than 25% of practicing physicians as active members, QuantiaMD is changing the way physicians work together and collaborate with the organizations impacting healthcare delivery. Physicians spend an average of 45 minutes per week on QuantiaMD, sharing real-world insights with each other and gaining practical knowledge from hundreds of top experts across major medical institutions. QuantiaMD has developed a robust technology platform where health plans and hospitals can actively engage physicians within its community – and within target audiences – to improve education and speed knowledge sharing in ways not possible until now.
"Most health plans and hospitals still rely heavily on homegrown portals, fax and mail to communicate with physicians," said Eric Schultz, CEO of QuantiaMD. "These methods are time-consuming, antiquated and ineffective, given how physicians work today. Our scalable platform is fully mobile and easy to leverage for clients who need to engage physicians in fast, high-quality interactions that drive education and positively impact clinical behavior."
QuantiaMD's client list already includes nine of the top 12 pharmaceutical companies in the world. This new funding will allow QuantiaMD to increase its sales, marketing and client services efforts within the pharmaceutical industry as well as with health plans and health systems. The funding will also play a critical role in supporting QuantiaMD's Physician Alignment and Collaboration Suite
(QPAC) for the payer and provider markets.
"Over the past 5 years, QuantiaMD has built a robust technology platform and a highly engaged physician audience where members are working together and consuming content on a mass scale never before achieved," said Mike Coyne, President of QuantiaMD. "This first-of-its-kind platform is transforming the way healthcare organizations collaborate with physicians to meet a variety of objectives, most importantly, lowering costs and improving quality of care. This additional financing will help us keep pace with the growing demand from our clients."
QuantiaMD Key Numbers:
- 160,000 registered and validated physicians
- 500+ expert faculty from top institutions
- 45 minutes of average usage per week
- One-third of members visit QuantiaMD exclusively on mobile devices
- 40% of member growth achieved by physicians' referrals
- Thousands of private, HIPAA-secure clinician-to-clinician discussions
QuantiaMD is the largest online community and collaboration platform for physicians. Here, 160,000 physicians share real-life experiences from clinical practice, nationwide, in minutes – rapidly, and in large numbers – allowing them to adapt to changes faster and apply the latest medical thinking to their practices. Through QuantiaMD's platform, healthcare organizations can quickly engage and align physicians to achieve important objectives and goals that lead to better quality of care. Built from the ground up for how physicians work today, QuantiaMD is easy-to-use, secure and fully mobile. To learn more, visit www.QuantiaMD.com
. For information about QPAC, visit www.QuantiaMD.com/clientsolutions