November 11, 2014
Boca-Raton based Modernizing Medicine, Inc., announced that it has closed on approximately $15M of an expected $20M funding round. The latest funding comes from existing investors, led by Summit Partners and Pentland Group, many of whom are medical specialists who use EMA. The company expects its employee base to continue to grow with approximately 100 new positions being created in the next 12-18 months.
The company created the Electronic Medical Assistant® (EMA™), a cloud-based, specialty-specific electronic medical record (EMR) system.
“At Modernizing Medicine we believe that properly captured and leveraged health data has the power to increase efficiency, improve patient outcomes and transform healthcare,” said Daniel Cane, CEO and co-founder of Modernizing Medicine. “This latest round of funding reinforces that belief and the strength of our market-differentiating products and services. With the investment we intend to continue focused development in the surgical-specialties, while also committing resources for development in telemedicine, IBM Watson and mobile applications.”
Developed by surgical physicians, EMA contains built-in specialty-specific medical knowledge and workflows. It can be accessed via the Internet virtually anywhere and at any time. This flexible format, combined with EMA’s touch-screen interface and advanced ICD-10 capabilities, gives providers the freedom they need to focus on their patients with the reassurance that charting plus coding for billing can be completed at the point of care.
Currently serving eight different medical specialties, more than 4,000 providers have adopted Modernizing Medicine’s EMA in their practices.
“Healthcare professionals need tailored technologies that make it easy not only to manage but also benefit from the exploding amounts of patient data,” said Michael Sherling, MD, Modernizing Medicine’s co-founder and chief medical officer. “In a relatively short time, we have developed a solution that does just that, enabling us to capture substantial market share and emerge as a physician-favorite EMR system. In the dermatology specialty alone, more than 26 percent of U.S. dermatologists now use EMA.”
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