CareInSync said Wednesday that it has received an investment from Samsung Venture Investment Company. No financial terms were disclosed. Headquartered in Santa Clara, Calif., CareInSync, which is also backed by HealthTech Capital, California Health Care Foundation and Hearst Business Media, is a mobile platform for healthcare providers.
SANTA CLARA, Calif., Aug. 7, 2013 /PRNewswire/ — CareInSync is pleased to announce an investment from Samsung Venture Investment Company (SVIC). SVIC joins CareInSync’s existing investors HealthTech Capital, California Health Care Foundation, and Hearst Business Media. With this investment, CareInSync is enhancing its evidence-based care coordination solution with industry-leading secure mobile communications technology and expanding its mobile offering to the Android platform.
CareInSync’s flagship product, Carebook™, is a HIPAA-compliant, mobile care coordination platform connecting physicians, case managers, nurses, and other aftercare professionals in real-time to deliver patient-centered collaborative care. Carebook creates dynamic care teams based on patient needs and tracks changes to the team across patient care transitions. Using Carebook, care team members can securely communicate across the team to collaborate on risk assessments and evidence-based transition plans. Finally, Carebook’s analytics dashboard provides real-time visibility into care process measures, a requirement for continuous quality improvement initiatives.
Carebook is the only mobile care coordination solution that combines HIPAA-compliant secure messaging with patient-centered evidence-based collaboration across a multidisciplinary team. The flexible, modular platform can be used to implement evidence-based care coordination interventions for a range of use-cases such as inpatient transitions, discharge planning, post-discharge coaching, community-based transition services and aftercare patient engagement. As a result, Carebook addresses not only the CIO’s needs for a secure, efficient communication platform but also those of the CMO/CNO for improved efficiency and patient outcomes. “This means lower risk, reduced total cost of ownership, and tangible ROI for the hospital,” says Steve Curd, president and CEO of CareInSync. “After implementing Carebook, we observe significant improvement in care team communications. Staff productivity increases, as they are able to better utilize 45 minutes saved per day from not having to play pager and phone tag. And we see this translate into earlier discharges and a tangible 10-15% increase in patient satisfaction, as measured by care transition HCAHPS scores.”
Siva Subramanian, PhD, COO and founder of CareInSync, adds, “With an estimated 70 percent of all healthcare errors attributed to communication failures, CareInSync is solving one of healthcare’s most dangerous problems: communication gaps that occur during patient care transitions. While solving the communications problem, protecting patient privacy and security is paramount. CareInSync is committed to leveraging smart phones and tablets to help healthcare providers deliver better care at lower cost in a safe, secure manner. We are very excited about this strategic investment by Samsung.”
About CareInSync Corporation
CareInSync offers software solutions that improve communication between disparate healthcare providers via a real-time, mobile, collaboration platform. As the first and only deployed healthcare mobile solution of its kind, Carebook™ is a secure, HIPAA-compliant, evidence-based, care coordination platform connecting physicians, case managers, nurses and other aftercare professionals in real-time. CareInSync is helping healthcare organizations across the country decrease readmissions, improve operational efficiencies, reduce costs and manage safe and timely patient care transitions. Headquartered in Santa Clara, California, CareInSync’s existing investors include Samsung Venture Investment Corporation, HealthTech Capital, California Health Care Foundation, and Hearst Business Media. For more information please visit: http://careinsync.com.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.