Have you ever needed to take a copy of your medical images to your doctor or other health care provider and they gave you a CD? You're not alone. Many radiologists still use CDs and similar outdated technology to share patient image files.
A startup called PocketHealth has taken issue with this. The company has built a medical image exchange platform that digitizes all patient and provider processes without the use of CDs. The Toronto-based company announced Wednesday that it has secured $33 million (C$45 million) in a Series B funding round.
PocketHealth's journey began after one of its co-founders, Harsh Nayyar (CTO), sustained a tennis injury in 2016. He received the results of his CT scan on his CD, but he was unable to view it and had to carry the CD with him. No matter who the practitioner you need to meet next. This experience inspired him and his brother Rishi Nayar, CEO, to streamline the way hospitals share patients' medical images.
“When we learned that this was still common in medical settings across North America, [in 2014], we knew we could change that,” Rishi told TechCrunch. “Despite technological advances, access to medical data is still hampered by traditional image exchange, resulting in delays, unnecessary costs, and negative patient experiences.”
Traditional image sharing systems used by healthcare providers for 20 years “move files from point A to point B over a closed network, with no emphasis on patient access to their medical data.” ” said Rishi. PocketHealth wants to change that by giving patients more access, control, and better understanding of their health records.
The eight-year-old company said its platform is used by more than 1.5 million patients across 775 practices in North America. PocketHealth plans to use the new funding to improve its AI technology, double its current workforce of 110 employees over the next two years, and expand its operations across North America.
Image credit: PocketHealth
PocketHealth started by digitizing and giving patients access to patient imaging reports and is now evolving its product by adding layers of understanding to help solve data portability issues.
Rishi said the service helps patients “understand what's going on, shows them what they may have missed and what they can do next, and provides easy access to medical care for follow-up care.” “It allows us to go back to our providers.”
Service providers also benefit. The organization says one of its customers, Valley View Hospital in Colorado, reduced non-personnel costs by 95% by migrating from CD. Another user, Unity Health in Toronto, was able to save more than $120,000 by closing his image library.
PocketHealth is not the only company that enables the digitization and sharing of medical images. New York-based Ambra Health operates a similar business, and Massachusetts-based EnvoyAI is building a medical imaging AI market. Traditional image exchange providers such as Nuance PowerShare and Change Healthcare are also part of his PocketHealth team.
One way PocketHealth differs from incumbents in this space is that while traditional providers allow providers to share images with each other and have limited patient access capabilities, PocketHealth allows patients to control their own medical care. It's about providing access to data.
When asked about the user data privacy policy, Rishi told TechCrunch: “Patients own their personal health information (PHI). We store it indefinitely if they need it and want continued access. [to their imaging]However, patients can permanently delete their data from PocketHealth at any time. We will not sell or lease his PHI to third parties. ”
Rishi also said the company encrypts data to maintain compliance with SOC2 Type II, HIPAA and PHIPA standards. “Security is a top priority for us. This is not just a static investment, it is an area of continuous focus. Data is stored locally and protected from data breaches. Hosted using Microsoft Azure in both US locations, we undergo ongoing security audits and reassessments. Patients have access to their data and secure access to images using an access code. You can share and undo so you can control who sees what and when,” he explained.
Round13 Capital led the Series B round, bringing PocketHealth's total funding to more than $55.5 million in equity. The round also saw participation from Deloitte Ventures and Samsung Next, as well as existing backers Questa Capital and Radical Ventures.