Virtual care enablement company TimeDoc Health recently clocked in $48.5M in Series B funding to help physicians establish new remote care capabilities for a post-pandemic environment.
The latest financing pushes TimeDoc’s total raise to $58.2M, with recent demand for hybrid care and staff support creating a need to quickly expand the company’s growing roster of over 150 care coordinators.
- TimeDoc’s virtual care platform aims to lighten the burden of overworked physicians through three major service lines: chronic condition management, remote patient monitoring, and behavioral health integration for primary care.
- The company positions itself as a way to increase the bandwidth of primary care teams by allowing them to leverage additional personnel alongside its services as standalone solutions, or as supplements to existing approaches.
- Unlike other care coordinators that often go D2C, TimeDoc works directly with PCPs so that they can better manage their patients in between appointments, while also driving reimbursements for remote patient monitoring and chronic care management.
- The new funding will be put towards doubling the size of TimeDoc’s care coordination team and expanding its customer base beyond primary care practices towards more traditional health systems and accountable care organizations.
The Takeaway
TimeDoc is no stranger to the fact that the benefits of virtual care programs are best realized through long term engagement. By recognizing that care coordinators are instrumental in making this happen, then offering flexible services that tailor staff support to the needs of individual organizations, TimeDoc could gain an edge by truly meeting providers where they are instead of taking a one-size-fits-all approach.
