Digital obstetric care platform Babyscripts introduced Monday it has raised $12 million in Collection B funding.
The spherical was led by MemorialCare Innovation Fund with participation from Philips Ventures and the CU Healthcare Innovation Fund.
“The pandemic exacerbated current disparities in maternal well being, whereas showcasing the effectiveness of digital instruments for managing being pregnant and equalizing care,” Caleb Winder, managing director of MemorialCare Innovation Fund, stated in an announcement.
“Babyscripts improves entry to look after sufferers and reduces price for the well being system and insurance coverage plan by connecting payer, supplier and affected person collectively via its digital platform, managing affected person and member well being and amassing and speaking actionable knowledge round threat with the aim of lowering maternal mortality and morbidity.”
WHAT IT DOES
Babyscripts gives an app, distant monitoring and academic content material to assist obstetricians handle pregnancies just about, automate some work and catch potential well being issues.
Juan Pablo Segura, the corporate’s president and cofounder, stated digital care know-how may also help to resolve among the nation’s severe shortcomings with regards to maternal healthcare.
Maternal mortality within the U.S. worsened between 2018 and 2019. In keeping with the Centers for Disease Control and Prevention, the maternal mortality fee was 20.1 deaths per 100,000 reside births in 2019, considerably increased than the 17.4 fee in 2018.
And obstetricians are stretched skinny. A 2019 study by Doximity found 35% of OB-GYNs had been no less than 55 years outdated, and plenty of confronted rising workloads. In 2017, the American Faculty of Obstetricians and Gynecologists estimated about half of U.S. counties lacked a single OB-GYN.
“Within the U.S., we have now an entry to care disaster,” Segura stated.
WHAT IT’S FOR
Babyscripts plans to make use of the capital to increase its companies to suppliers throughout the U.S. and develop extra choices for payers. The corporate has now managed 200,000 pregnancies throughout 30 states.
Segura stated permitting all stakeholders – from sufferers and public well being departments to suppliers and payers – to make use of one platform might clear up care coordination and knowledge sharing issues.
“We expect one of many largest challenges that exists in serving to pregnant folks on this nation is that there are 15 totally different stakeholders which can be making an attempt to do their very own intervention, their very own resolution, and nobody works with one another,” he stated.
In August, Babyscripts partnered with Privia Health, permitting physicians in Privia’s ladies’s well being division to make use of Babyscripts with their pregnant and postpartum sufferers. The corporate entered into a number of partnerships in 2019, together with with AmeriHealth Caritas DC and Penn Medicine.
The Collection B financing builds on a $4 million raise from late 2020.
Although femtech nonetheless makes up a small part of general digital well being funding, it’s a rising sector. According to Frost & Sullivan, the worldwide femtech market is predicted to achieve $1.15 billion by 2025.