At a time when patients are expecting more from their healthcare experiences and providers are looking for new ways to rise to the challenge, NexHealth announced the close of $125M in Series C funding to help create the infrastructure needed for frictionless care interactions.
The funding arrives less than a year after the company’s $31M Series B round, pushing its total valuation to an even $1 billion.
NexHealth’s 29-year-old CEO Alamin Uddin first caught a glimpse of the technical barriers preventing seamless patient management while working as a medical receptionist during his time as a pre-med undergrad.
- The experience led Uddin to found NexHealth in 2017 with the ambitious mission of accelerating innovation in healthcare through the creation of a “Universal API” that enables developers to quickly build useful services.
- NexHealth’s Universal API integrates data from EHR systems to break down the silos that have traditionally slowed the pace of healthtech innovation, eliminating the need for developers to integrate with individual EHRs and reducing the time required to deploy new products.
- Uddin compares the service to fintech company Stripe’s back-end credit processing platform, which allows companies to easily plug-in and start interacting with different vendors.
The fresh financing will be used to drive strategic talent acquisitions and develop new doctor-facing features for NexHealth’s patient experience platform that leverages the Universal API to streamline practice management with features like online scheduling, automatic reminders, and two-way messaging.
- The platform currently manages over 68M patient records, and the recent capital raise should help bring on more large enterprises by adding functionality for one-click booking and integrated forms.
The Takeaway
NexHealth is looking to establish itself as a way to provide frictionless patient experiences during a period when that’s exactly what the market is calling for. As the healthcare industry continues to lumber its way through the adoption of standards like HL7 and FHIR, NexHealth’s Universal API promises a simpler alternative that’s easier to implement, and the investor attention that it’s attracting appears to be validation that the approach has merit.
