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Managing hospitals, Allocade raises $3.2 million

Extra funding for a company coordinating staff and patients in hospital environment

Financial trends and news by Ronny Kerr
August 16, 2011
Short URL: http://vator.tv/n/1de6

Allocade, provider of technology solutions to coordinate care in hospitals, has raised $3.2 million, according to an SEC filing published this week.

Names on the filing include the senior advisor and managing director from VantagePoint Capital Partners, Eve Kurtin and Annette Bianchi, as well as Sippl Macdonald Ventures founding partner Roger Sippl. Last time Allocade secured funding, in March 2010, the company closed a $5 million round led by VantagePoint.

On-Cue, Allocade’s primary product, is an artificial intelligence-based system for dynamically organizing patient and caregiver logistics in hospital environments, which can often be chaotic. The system tracks everything from patient needs, like scheduled appointments and procedures, to real-time personnel scheduling.

We’ve reached out to the company to confirm the new round and will update when we receive reply.

Peninsula Medical Center and Children’s Hospital Boston are two of Allocade’s happiest customers, with positive testimonials from each on their provider’s site.

On Monday, instead of announcing its new capital, Allocade in conjunction with the Department of Radiology at University of Utah Health Care issued a press release singing praises about On-Cue.

"New technology enables us to optimize schedules, streamline communication and provides us with real-time visibility, resulting in a significant reduction in patient scheduling delays, as well as an increase in throughput and improvements to our resource utilization,” according to Steven Tew, manager of Interventional Radiology at the University.

"In addition, the software provides access to clinical operations data that previously was very difficult to obtain, enabling us to make objective, meaningful business decisions. As a result, we have preserved jobs and are improving our bottom line.”

The health industry has been cited as an industry moving slowly in adopting what could be the most important technologies for caregiving. Organizing patients and caregivers in a sometimes confused hospital setting? If Allocade’s On-Cue System works well, it could be a lifesaver.

Founded in 2004 and headquartered in Menlo Park, Calif., Allocade currently employs 25 people.