NEW YORK, 26 January 2023 – Elaborate, a tool used by doctors and their staff to give patients test results that are contextualized and focused on taking action, said that it had secured USD 10 million in seed investment. Founder Collective, Company Ventures, Bling Ventures, and Arkitekt Ventures joined the fundraising round, which Tusk Venture Partners managed. Other notable investors included Elliot Cohen (Pillpack, Amazon), Sara Wajnberg (Oscar), Scott Belsky (Behance, Adobe), Sean, and Peter Glass, MD (Advantia).
Today, more than 44% of patients receiving regular blood work will have at least one out-of-range number, which prompts the patient to phone or message their doctor for an explanation even though it is not clinically relevant or an immediate reason for worry. Clinical settings have, in the past, kept test findings from patients to lessen the load of frantic patient calls and texts. However, the current 21st Century Cures Act requires the immediate electronic release of all patient medical data, including test results. The amount of inquiries patients have concerning their test results has skyrocketed, which has unforeseen effects on a doctor’s workload even though this regulation guarantees that patients have access to their health data.
Elaborate, made available in 2021, will easily connect with a doctor’s current electronic medical records (EMRs) to provide patients with tailored and contextualized lab results that provide real-time health insights and actionable information. Elaborate minimises pointless back and forth between patients and doctors while giving patients more control over their health by offering contextualised health data.
Elaborate’s technology uses underlying clinical guidelines derived from reliable sources like UptoDate and PubMed, as well as a medical advisory board of experts with years of expertise at organizations like Mt. Sinai and John Hopkins, to create this unprecedented patient experience. Additionally, it allows customers to include unique procedures that match their clinical methodology. With the help of Elaborate’s specialized technology, doctors free up an extra 32 minutes per day on average for direct patient care, instruction, and diagnosis.
About the startup:
The ” Elaborate ” platform allows medical professionals to communicate test findings with patients, who are then told what their health data implies and what to do next. The company’s technology interfaces with doctors’ EMRs and uses its own clinical insights engine to evaluate patient data. This allows doctors to provide patients with customized reports highlighting the most important information. The solution has active integrations with more than 65 EMRs and is in charge of covering 500,000 patients.
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