Company Set to Accelerate National Expansion
Delafield, WI – December 15, 2009 – My Health Direct, Inc. today announced that it has closed $4 million in Series A Financing led by Chrysalis Ventures, and that David A. Jones, Jr., Chrysalis Ventures Chairman & Managing Director, has joined the company’s board. My Health Direct is a provider of web-based access management solutions to healthcare providers and payers. The company’s platform enables users to search for, compare features of, and schedule appointments with healthcare providers broadly throughout an entire community or network. As a result, patients receive proper care quickly, while customers using My Health Direct cut costs by directing patients to the most appropriate healthcare professional.
“Since we founded the company in 2006, our Software-as-a-Service platform has helped hospitals significantly reduce overcrowding in their emergency rooms in a cost-effective manner,” said Jay Mason, Founder and CEO of My Health Direct, Inc. “With this new capital, we’re hiring sales and support professionals, and are focused on accelerating our expansion, both geographically and beyond the emergency room. We’re getting significant traction with health plans, state health agencies, managed care organizations and community health coalitions, who are interested in an easy-to-use tool that connects patients to the appropriate healthcare professional in a way that saves time and money.”
One use of My Health Direct’s solution provides a means for triage nurses in the ER to re-direct patients with non-emergent conditions to the appropriate setting in the community. Unlike conventional referral management solutions, My Health Direct provides a patient with a confirmed appointment based on his or her needs, such as provider location or language competency, payer network, and appointment timeliness. The tool reduces the cost of treating non-emergent patients in the ER, and establishes a primary-care relationship for the patient in a more appropriate setting. Recently, My Health Direct has launched its platform beyond the emergency room, including within Medicaid managed care and revenue cycle management.
“My Health Direct helps caregivers and care coordinators get the most out of community resources by using available resources more effectively,” said David A. Jones, Jr. “By helping cut costs and improve patient outcomes in both government and private healthcare programs, My Health Direct falls right in the sweet spot of our healthcare investing approach. As the nation tackles the tough challenges of ever-increasing healthcare costs, there are significant market opportunities for the deployment of My Health Direct’s scheduling solution. We look forward to working with Jay and his team in addressing a set of substantial problems.”
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures manages one of Mid-America’s largest funds for early-stage and growth investments with approximately $400 million under management. Focused on partnering with entrepreneurs to build enduring businesses in industries undergoing significant transformation, Chrysalis has invested in over 60 companies primarily in the Healthcare and Technology sectors. Headquartered in Louisville, KY, Chrysalis has offices in Cleveland, Pittsburgh and Ann Arbor. For more information, please visit www.chrysalisventures.com.
About My Health Direct, Inc.
My Health Direct Inc., based in Delafield, Wis., provides a web-based access management platform for healthcare organizations to connect patients to providers throughout a community or network. With My Health Direct, patients receive a confirmed appointment based on specific needs such as the physician’s location, payer network, availability of public transportation, language and medical specialty. My Health Direct is used by hospitals, managed care plans, and clinics in four states, resulting in the reduction of unnecessary visits to hospital emergency rooms, cost savings for hospitals and public health programs, and better care for patients. For more information, please visit www.myhealthdirect.com.