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Zipnosis will remain a standalone company, with Florence continuing to invest in the the platform
Demand for healthcare services and clinical supply constraints continue to present challenges for patient access. There is a pressing need to augment the healthcare system to automate workflows and streamline processes.
Florence, a healthcare enablement software, helps fix this by prioritizing omnichannel hybrid care.
"Despite the fact that the U.S. has one of the best healthcare systems in the world, it still faces a number of issues ranging from operational inefficiencies to high costs and restricted access to care," Aniq Rahman, founder and CEO of Florence, told VatorNews.
"Florence seeks to address these issues at their root by introducing new technology and streamlined processes that make healthcare more affordable, accessible, and patient-centered, while also providing much-needed relief to healthcare staff."
Now the company will double down on its mission through the acquisition of asynchronous-first virtual care solution Zipnosis. While no financial terms of the deal were disclosed, it was revealed that Zipnosis will remain a standalone company, with Florence continuing to invest in the Zipnosis platform. In addition, all 60 Zipnosis team members are coming to work at Florence.
Both teams will combine our two product portfolios to tech-enable entire episodes of care, extending their reach beyond the walls of the hospital, said Rahman.
"The Zipnosis platform provides an expansive library of clinical protocols and logic that we can apply to physical points of care. Florence is already providing a better, more consumer-centric healthcare experience that benefits both the patient and the provider," he explained.
"With Zipnosis, we extend the reach of the Florence ER product upstream to the time of need, when patients are still at home. Additionally, patients are directed to the most appropriate modality and point of care, including asynchronous enabled virtual care."
Florence's mission is to revolutionize healthcare by making it more efficient, accessible, and patient-centered via tech-enabled care. Its technology solution reduces operational overhead and enhancing patient satisfaction by placing power back into the hands of patients, allowing them to track their journey, update clinical information, and control prescription fulfillment via their smartphone.
"We are developing products across multiple sites of care, starting with emergency departments. Patients that use Florence benefit from an experience that rivals consumer-focused industries," explained Rahman.
"They can track and accelerate their journey via smartphone, initiate self-discharge when appropriate, and even schedule follow-up appointments, among a variety of other options. The solution boosts patient satisfaction, increases clinical capacity, and reduces patients leaving without being seen."
Currently, the company is are working with health systems across the U.S., most recently launching with Luminis Health in Maryland, which are able to increase revenue, reduce admin costs, and drive referral streams. In the ER, Florence is already seeing seven minutes of nurse time savings per patient and a Carrot Health study found that 40% of patients that use Zipnosis are net new to health systems, generating $2900 in first-year revenue per patient, while being 276% more likely to convert to becoming a health system patient.
By buying Zipnosis, Florence will be able to tap into the company's network, which has already handled 4.5 million patient encounters with 3,500 physicians at over 50 different health institutions, including Ballad Health, SSM Health, the Medical University of South Carolina, and Allina Health.
"For now, we’re focused on expanding our reach to additional ERs across the U.S. but plan to continue improving healthcare across a number of specialties in the future, including areas like primary care, pediatrics and surgery," Rahman said.
"Our Zipnosis acquisition brings us one step closer to improving healthcare and enabling hospitals to remain competitive by providing the best possible care to patients. It’s our hope that we can create a more sustainable and patient-centered healthcare system that makes a real difference."
The ultimate goal with this acquisition, he explained, is to revolutionize the healthcare system by integrating Zipnosis' asynchronous care platform to create a seamless and patient-centered experience.
"Success for us means establishing an equitable and accessible healthcare system that addresses operational inefficiencies, high costs, and uneven access to care. Collaboration with the Zipnosis team, who shares our vision, will enable us to make a significant impact in transforming the industry and improving the lives of patients and providers as we lead a global shift towards a more efficient and modern healthcare delivery system."
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