EMR platform Modernizing Medicine raises $14M

The company's specialty-specific EMR platform gets backing from Summit Partners

I love my son’s pediatrician, but I’m always caught off guard by the paper file he pulls out whenever we come in for a visit. It’s like—paper. No iPads or computers. Just paper. And I’m always like “WHaaAAaaT?!”

As more and more healthcare practitioners are phasing out paper records and adopting electronic files and tablets, Electronic Medical Record (EMR) companies are flourishing. Modernizing Medicine has set itself apart from the competition by creating individual EMR systems for specific specialties, like dermatology, orthopedics, cosmetic surgery, and more. The company announced Tuesday that it has raised $14 million in funding from Summit Partners.

Creator of the Electronic Medical Assistant (EMA), Modernizing Medicine has developed an EMR platform that customizes itself to the individual user and automates notes and bills, and generates prescriptions, lab requests, and more.

Unlike other EMR companies, Modernizing Medicine has created individual EMR systems for each type of health specialty. Currently, the platform has EMR systems for dermatology, ophthalmology, optometry, orthopedics, and plastic and cosmetic surgery.

So if you’re a dermatologist and you have a patient who came in with a case of eczema, your Electronic Medical Assistant will display a full anatomical chart so you can mark where the rash has occurred. You can adjust the chart to display at a specific angle, or if the patient has something like psoriatic arthritis, you can switch to the “joint view,” which pulls up an anatomical display at the skeletal level.

Obviously, if you’re an ophthalmologist, you’re not going to need a full body anatomical chart. You’re going to need anatomical charts that are specific to the structures of the eye, so in that case, your system will display charts specific to the eye.

"Another benefit to creating specialty-specific systems is that we are able to capture structured data that is used in the system, which allows us to organize the information and see trends in treatments and outcomes. This is where we are able to truly 'modernize medicine' through technology," said CEO Daniel Cane. 

The information you enter with a few taps is used to generate full notes on the patient. The platform has 3,000 providers across 1,000 practices. 

“The time is ripe for technology that transforms the way physicians practice,” said Mark deLaar of Summit Partners, in a statement. “We believe that Modernizing Medicine’s powerful technology, coupled with its exceptional  team, is the right combination to disrupt the EMR market.”

DeLaar is also joining Modernizing Medicine’s board of directors.

The company plans to use the new capital from this round to hire more technological staff, ramp up its growth in current markets, and expand into new markets. The company also plans to add additional specialties to its platform, including otolaryngology (aka ENT or ear, nose and throat), GI (gastroenterology) and rheumatology. 

The company has raised $29 million to date.