When it comes to diagnoses and the possibility of undergoing serious medical procedures, we want second opinions (and trustworthy referrals) whenever we can get them. With 30 to 40 million Americans slated to receive insurance for the first time next year thanks to Obamacare — and with millions expected to experience higher costs and reduced coverage as a result — the system is in for a shock. That’s why one Bay Area startup sees a huge need for trustworthy, affordable online resource for second opinions, and referrals. And, potentially, a huge business opportunity.
Conceived by Reputation.com co-founder Owen Tripp and chief of interventional radiology at Stanford Hospital, Dr. Lawrence Hofmann, ConsultingMD launched in early 2012 to streamline the diagnosis process and help patients connect with top specialists for speedy second opinions. In other words, it wants to be the “Mayo Clinic of the Web,” as The Wall Street Journal intoned in February.
Investors are intrigued; particularly, a firm that has quite a bit of experience investing in Health IT companies. Today, ConsultingMD announced that it has raised $10 million in series B financing from Venrock. While Tripp (like every founder on the planet) says that the company had interest from a range of investors, the company chose Venrock because he sees them as the “leading venture firm” when it comes to healthcare IT, and one that is committed to “advancing patient-centered care.”
Article courtesy of TechCrunch