Digital Disruption| December 12, 2018
Enzyme Health has raised $1.7M in seed funding for its telemedicine program
A very young company, Enzyme Health, founded this year, is already succeeding in making a difference in the U.S. healthcare industry. The digital health company has a very innovative approach to revolutionizing the industry.
It aims not only to help patients by making healthcare more accessible but also to transform clinical careers by making them as innovative as the industry itself. This will give clinicians the ability to work whenever they want, from wherever they want. To support its vision, Enzyme Health announced on December 4th that it has raised $1.7 million in seed funding. Silverton Partners led Enzyme Health’s seed funding alongside private investors. Based in Austin, TX, the VC firm works with entrepreneurs in high-growth industries to build lasting companies.
What Enzyme Health offers is a one of a kind two-sided telehealth job marketplace. Doctors and nurse practitioners are matched with positions that suit their expertise and availability through machine-learning, the result being that they can work either full-time or part-time, depending on their respective schedules.
What is a telemedicine physician?
Using virtual communication channels – video consult, telephone or online chat, or even written communication – a telemedicine physician provides remote patient care to patients who need help but do not have the option of going to a doctor’s office.
Illinois has around 1.5 million people living in rural areas or on the outskirts of urban centers, so it is very important to somehow provide them with primary care. This is why a task force to improve quality and access to care and modernize Illinois’ telemedicine policies was put in place in August this year.
The system is structured to cover multiple situations. Telemedicine practitioners, often licensed in more than one state, offer services to patients via telehealth companies such as Doctor on Demand or MDLive. The health issues physicians can help alleviate by using telemedicine vary from common non-emergency health conditions such as flu or ear infections, to chronic conditions and pain. Telemedicine physicians can also monitor prescription medications, work in specialty fields such as obstetrics and gynecology. Even mental health issues can be approached by telemedicine, as Regroup, a Chicago startup launched in 2011, is proving after quickly becoming one of the leading telepsychiatry companies in the U.S.
“Traditional healthcare jobs require spending 50-80 hours per week in a hospital, which often means clinicians give up work-life balance and doing the things they enjoy,” said Enzyme Health co-founder and CEO Michelle Davey. “We started Enzyme Health after speaking with hundreds of doctors who wanted more career flexibility, but couldn’t find the time, resources or job opportunities to make that a reality.”
What are the advantages of telemedicine?
Maximum job flexibility is one of the perks of telemedicine. Clinicians can choose a part-time contract to provide additional care in seasonal volume spikes, or work full-time as a telehealth clinician. Many employers would even permit physicians to start part-time, just to see whether telehealth is the right choice for them, and then move on to a full-time contract if they are happy.
Enzyme Health was designed to provide the right answer for the healthcare practitioners who want a different life, a different schedule. The company promises to match people to high paying jobs across the country, after only completing a user-friendly profile in less than 2 minutes.
What is the focus of Enzyme Health?
All the healthcare industry needs to change and innovate, as well as incorporate modern, digitized solutions for the new challenges of the system. Besides offering flexible career paths, Enzyme Health focuses on partnering with innovators in the digital health space that strive to change the current status quo of the healthcare industry. One feature that especially appeals to young clinicians, but not only to them, is the possibility of working remotely, which is the case for 90% of the available positions. Machine-learning matches doctors and nurse practitioners with positions that suit their expertise and availability.
Healthcare companies can also benefit from Enzyme Health’s experience, which makes recruiting more efficient, with better results, care and convenience for patients. Enzyme Health helps companies such as Doctor on Demand, MDLive, InTouch Health, Hims/Hers and Parsley Health scale their nationwide job openings, filling telehealth roles with adjusted high-quality talents.
How do the company’s founders hope to achieve their goal?
With a deep understanding of the market, its challenges and trends, co-founders Michelle Davey, Griffin Mulcahey and Philip Johnson are putting together a team of experts in the digital healthcare and recruitment space. They are ready to help clinicians navigate the evolving healthcare landscape.
“The digital healthcare industry is growing exponentially, and companies like Enzyme Health are leading the way,” said Morgan Flager, General Partner at Silverton Partners. “We believe in the team’s ability and vision to greatly influence the future of this industry, creating a new standard for how doctors and healthcare companies work. We look forward to Enzyme Health’s continued success.”
“We want to become the backbone of the digital healthcare industry,” Davey said. “Soon, every healthcare encounter will start with some form of telehealth, whether it’s a video consultation, an AI-driven symptom checker, or a smart wearable device. By connecting clinicians with these opportunities, it becomes possible to transform the way they work and to offer more work-life balance than they’ve ever had.”
About Enzyme Health
Enzyme Health is changing the way healthcare works. Enzyme connects top clinical talent to innovative healthcare companies, offering clinicians more career flexibility. Current clients include top telemedicine companies like Doctor on Demand, MDLive, Hims / Hers, Intouch Health, and Parsley Health. For more information, visit http://www.enzymehealth.com.
About Silverton Partners
From idea to exit, the Silverton team works with exceptional entrepreneurs who are committed to attacking growth markets and building lasting companies. In partnering with Silverton, companies benefit from its deep network and lessons learned over many decades of operating and investing experience. Founded in 2006, Silverton Partners is based in Austin and has been the initial investor behind Convio, WP Engine, SpareFoot, SailPoint, Silicon Labs, TurnKey, The Zebra, AlertMedia, SpyCloud, Convey, Aceable, Big Squid, and Billie among many others. CB Insights has recognized Silverton as the most active venture capital firm in Texas. For more information, visit http://www.silvertonpartners.com.