San Francisco-based company with Finnish roots BetterDoctor announces a new $11M funding round led by Health Catalyst Capital. Vision+, Texo Ventures, SoftTechVC, B-ForeCapital, and Helsinki-based LifeLine Ventures also participated in the round.
BetterDoctor is on the mission to fix provider data and help consumers find the care they need. Provider data inaccuracy is the major problems that overburdens the entire US healthcare system. BetterDoctor is in a unique position to solve this persistent data problem and to ensure health insurance companies, health systems and providers comply with several federal and state regulations.
BetterDoctor’s APIs distributes validated data into the healthcare ecosystem, serving the number of health insurance companies, state exchanges, and health systems.
More than 1,800 developer partners use BetterDoctor’s database of doctors. Here’s how it works: the team efficiently onboards health plans to centralize outreach work and data collection to reduce the data-update burden for providers. Each quarter BetterDoctor’s data validation engine proactively connects directly with over 500,000 providers and makes sure that their information is correct. Providers can trust that they can update their information once with BetterDoctor and their changes will be distributed to their contracted health plans and any other organization the provider chooses.
With BetterDoctor’s national expansion, providers — for the first time — have access to a centralized utility that can proactively update their data with the industry at large.
Additionally, the new funding will speed up BetterDoctor’s product development and add new features to deliver better service to health insurance companies, providers, and consumers. BetterDoctor will also double their San Francisco based team in the next 18 months and is actively looking for new talent in the areas of customer success, operations, engineering and data science teams.
Tapio Tolvanen, Co-Founder and CTO of BetterDoctor comments on the future of BetterDoctor: “Today we are thrilled to be in a position to power provider data for hundreds of organizations that provide healthcare services for tens of millions of people. This new funding round gives us ability to grow our team and build new data products that will finally solve the persistent provider data problem.”
BetterDoctor was founded 5 years ago by Tapio Tolvanen and Ari Tulla to help patients find the right doctor. “Millions of patients used our apps to find a doctor, but many of them were frustrated because our data quality wasn’t good enough. This feedback helped us realize the hidden fact that no one had accurate data in the market about where each provider is practicing medicine, which health plans they accept, or how to successfully book a new appointment. Seeing this gap, we decided to go all in and focus all our efforts on fixing this problem and finally provide the healthcare market with accurate doctor data.” – comments Tulla.