AUSTIN, Texas--(BUSINESS WIRE)--Vital Interaction, a healthcare technology company that combines healthcare data, business intelligence and workflow automation, today announced the closing of $15 million in Series A funding led by Austin-based Next Coast Ventures.
Vital Interaction uses key practice and patient data to ensure patients follow through on prescribed care plans, recalling and reactivating both new and existing patients to encourage follow-up appointments and reduce patient churn. It uses appointment, clinical and billing data to generate automated, customizable campaigns for targeted patient outreach.
By analyzing millions of these patient touchpoints, Vital Interaction enables hyper-personalization of patient communications, improving patient retention, reducing no-show appointments and re-engaging existing patients.
Through carefully designed workflows, Vital Interaction automates sending these patient touchpoints, introducing new ways for care providers to share critical health information with patients.
“The industry has been woefully behind in finding ways to automate the time-consuming and complex process of patient communication; current modes of communication are often generic, resulting in a poor patient experience,” Vital Interaction CEO Ben Chapman said. “We believe our data and carefully designed communications streams will ensure that patients adhere to even the most complex long-term care plans, improving their health outcomes and quality of life.”
Vital Interaction’s Growth Will Serve Patients’ Overall Needs
Vital Interaction headquartered in Austin, Texas will use the additional capital to rapidly scale its go-to-market strategy. It will ramp hiring quickly, growing the company headcount by more than 60% in 2024. The firm will also continue its investment into product research and development which it has done over the past several years and will launch new features to drive hyper-personalized patient communication.
Vital Interaction’s core functionality is based on millions of patient data points about appointment prep, follow-ups and ongoing care plans. It helps medical practices communicate seamlessly with patients across multiple channels and ensures touchpoints come at the exact right time to ensure patients take necessary steps to improve their health and combat disease.
“We believe that better communication leads to better healthcare. We already power more than 40 million messages a year to over 5 million patients. So the more we can invest and scale, the more we can impact healthcare overall with better communication,” Chapman said.
These small interventions are designed to prevent the need for more serious treatments in the future. As the medical community has turned to value-based care reimbursements, improving outcomes by small, low-cost and minimally invasive steps is critical to operating healthy medical practices.
Investor Perspectives on $15M Series A Funding Round
"By modernizing and personalizing every step of the patient experience, Vital Interaction offers a transformative solution for the healthcare industry," said Michael Smerklo, Co-founder and Managing Partner of Next Coast Ventures. "We are thrilled to see what is next for Ben Chapman and Vital Interaction's impressive team."
About Vital Interaction
An award-winning leader in patient communication technology, Vital Interaction specializes in patient reactivation and retention. Over 13,000 providers trust Vital Interaction to facilitate more than 40 million messages to over 5 million patients annually. Vital Interaction’s proprietary Smart List Engine constantly scans a practice management system using specific criteria like appointment, clinical and billing data to generate automated, customizable campaigns for targeted patient outreach. Smart List Engine automatically identifies and engages at-risk patients, encourages them to schedule appointments and measures the effectiveness of outreach efforts.
About Next Coast Ventures
Next Coast Ventures is an Austin-based venture capital firm that partners with bold entrepreneurs seeking to build innovative companies in big markets. With over $500 million in assets under management, Next Coast provides its growing group of portfolio companies with hands-on, company-building resources through its strong industry network and the founders’ own experiences as entrepreneurs and operators. Learn more at www.nextcoastventures.com.
