Digital obstetric care platform Babyscripts introduced Monday it has raised $12 million in Collection B funding.
The spherical was led by MemorialCare Innovation Fund with participation from Philips Ventures and the CU Healthcare Innovation Fund.
“The pandemic exacerbated present disparities in maternal well being, whereas showcasing the effectiveness of digital instruments for managing being pregnant and equalizing care,” Caleb Winder, managing director of MemorialCare Innovation Fund, mentioned in a press release.
“Babyscripts improves entry to take care of sufferers and reduces price for the well being system and insurance coverage plan by connecting payer, supplier and affected person collectively by way of its digital platform, managing affected person and member well being and accumulating and speaking actionable knowledge round danger with the purpose of lowering maternal mortality and morbidity.”
WHAT IT DOES
Babyscripts gives an app, distant monitoring and academic content material to assist obstetricians handle pregnancies nearly, automate some work and catch potential well being issues.
Juan Pablo Segura, the corporate’s president and cofounder, mentioned digital care know-how may help to unravel a number of the nation’s severe shortcomings in the case of maternal healthcare.
Maternal mortality within the U.S. worsened between 2018 and 2019. Based on the Facilities for Illness Management and Prevention, the maternal mortality fee was 20.1 deaths per 100,000 stay births in 2019, considerably greater than the 17.4 fee in 2018.
And obstetricians are stretched skinny. A 2019 examine by Doximity discovered 35% of OB-GYNs have been at the very least 55 years previous, and lots of confronted rising workloads. In 2017, the American School of Obstetricians and Gynecologists estimated about half of U.S. counties lacked a single OB-GYN.
“Within the U.S., we’ve got an entry to care disaster,” Segura mentioned.
WHAT IT’S FOR
Babyscripts plans to make use of the capital to broaden its companies to suppliers throughout the U.S. and develop extra choices for payers. The corporate has now managed 200,000 pregnancies throughout 30 states.
Segura mentioned permitting all stakeholders – from sufferers and public well being departments to suppliers and payers – to make use of one platform may remedy care coordination and knowledge sharing issues.
“We expect one of many greatest challenges that exists in serving to pregnant folks on this nation is that there are 15 completely different stakeholders which might be attempting to do their very own intervention, their very own resolution, and nobody works with one another,” he mentioned.
In August, Babyscripts partnered with Privia Well being, permitting physicians in Privia’s girls’s well being division to make use of Babyscripts with their pregnant and postpartum sufferers. The corporate entered into a number of partnerships in 2019, together with with AmeriHealth Caritas DC and Penn Medication.
The Collection B financing builds on a $4 million elevate from late 2020.
Although femtech nonetheless makes up a small half of general digital well being funding, it’s a rising sector. Based on Frost & Sullivan, the worldwide femtech market is predicted to succeed in $1.15 billion by 2025.