We look forward to teaming up with Mytonomy to help grow the business, and ultimately forge a productive partnership path for the two companies
BETHESDA, Md. (PRWEB) November 29, 2017
Proceeds will be used to accelerate market expansion of its Patient Experience Cloud
Bethesda, Maryland – November 29th, 2017 – Mytonomy, a leader in patient experience cloud solutions that improve patient outcomes, announced it is closing a $7M Series-A funding round, including an investment from Philips, a global leader in health technology.
“Philips brings an extensive track record in consumer health and professional healthcare in key areas that align with Mytonomy’s growth, such as cardiology, oncology, imaging, and population health, and they are a value-add investor as we scale our Patient Experience Cloud business. We are thrilled to have members of the Philips Health Technology Ventures team join our board as they bring decades of healthcare industry and software execution expertise,” said Anjali Kataria, CEO of Mytonomy.
“Mytonomy’s software platform drives benefits for multiple stakeholders, simultaneously; we drive longitudinal patient activation, improve patient, family and staff satisfaction, decrease labor costs, and increase top-line growth by delivering a data-driven, personalized patient experience across the care continuum,” said Kataria.
“The results that Mytonomy and its founders have achieved in recent years are very impressive,” said Rich Wilmot, head of Philips Health Technology Ventures. “Their innovative product has strong traction in the market as hospitals achieve very high patient satisfaction from patients who use Mytonomy’s cloud-based patient education system. Moreover, Philips and Mytonomy share a joint vision of marrying unique data sets such as patient-reported outcomes and clinical metrics to drive better clinical outcomes, while enhancing the patient experience, and driving down inefficiencies and cost. We look forward to teaming up with Mytonomy to help grow the business, and ultimately forge a productive partnership path for our two companies.”
Other notable investors include Super Angels such as George John, co-founder of Rocket Fuel and an Artificial Intelligence (AI) thought leader, and Gokul Rajaram, Head of Product for Square and a former Facebook and Google executive.
Mytonomy’s patient education, engagement, and experience platform spans the care continuum from pre-arrival, procedure preparation such as “preparing for your cardiac cath”, to inpatient admission, discharge instruction, at home care, and ambulatory clinic visits providing patients with a consumer-like experience that is both high-tech and high-touch while simultaneously increasing labor efficiency of staff and standardization across health systems. “Nurses call Mytonomy their virtual assistant and health systems can ensure that regardless of which “door” their patients come through into their system, they will receive a similar patient experience,” said Kataria.
“Like popular consumer video streaming services, Mytonomy delivers personalized content directly to patients on any device throughout their care journey," said Vinay Bhargava, Mytonomy’s Co-founder and President. "We have invested heavily in bringing user-centric design principles to healthcare, and this has led to very high patient usage across all major demographics. Our cloud capabilities deliver a precise, patient experience based on their own identified needs. Mytonomy can do this at scale using the power of mobile, cloud software, good user centric design and data analytics,” he said.
The patient experience is of paramount importance to the healthcare industry. Gartner’s 2017 report “The Future of Experience in Healthcare Demands a Consumer-Aligned Collaborative Ecosystem”*, includes the following observations:
- Sixty-one percent of U.S. integrated delivery systems (IDSs) now have a senior executive specifically charged with accountability for the patient experience.
- The experiences that consumers have in healthcare — positive or negative — influence their future decisions when navigating the healthcare system and their personal health behaviors. These decisions are powerful determinants of health outcomes and medical costs.
*Gartner, “The Future of Experience in Healthcare Demands a Consumer-Aligned Collaborative Ecosystem,” Jeff Cribbs, Mark E. Gilbert, 28 April 2017.
Mytonomy is the leader in Patient Experience Cloud Software for hospitals and providers. Leveraging behavioral science, Mytonomy offers a data-driven personalized patient education, engagement and experience software platform resulting in unprecedented cost savings and significant improvements in patient outcomes. Our cloud software combined with microlearning video education enables seamless access, on any device, anywhere, anytime, across the care continuum: pre-arrival, pre-procedure, inpatient admissions, at discharge, at home, in rehabilitation and during ambulatory clinic visits, all with a consumer-like experience, that is both high-tech and high-touch. The company has completed two IRB approved clinical research studies across four clinical sites with positive results, which are expected to be published in forthcoming academic journals. Mytonomy’s founders are former executives from Google, Oracle, and the FDA. The company is headquartered in Bethesda, MD. For more information, visit http://www.mytonomy.com.