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Relatient, Inc., the leading SaaS-based patient engagement platform, announced August 5th the signing of a definitive agreement to merge with Radix Health while also raising $100+ million of additional growth equity capital from its existing investor, Brighton Park Capital and its affiliates.
There’s no doubt that the COVID-19 pandemic has accelerated the timeline of innovation and adoption in the digital health and MedTech industries. No vector of care is changing faster than outpatient care, and telemedicine has drawn significant attention in an era when people want to spend as little time in waiting rooms—indeed, in the presence of coughing strangers—as humanly possible. Telemedicine is a fairly new digital health discipline that continues to make the lives of providers easier, drive healthcare access, and deliver better patient outcomes. From a pure efficiency standpoint, telemedicine and telehealth—the use of remote communication to perform medical visits traditionally performed face-to-face—stands to alleviate the burden of inpatient admissions by relocating some of them to telehealth outpatient treatment.
Through this merger, Relatient will add Radix Health’s suite of cutting-edge, enterprise-grade patient access solutions to its existing platform to continue to optimize provider schedules, increase patient satisfaction and improve outcomes for hospitals and clinics.
“Radix Health has built an innovative product and strong customer base, far beyond what else we have seen in the market for patient access and schedule optimization,” said Michele Perry, CEO of Relatient. “Together, we have a robust platform solution for a market looking to move beyond first-generation patient communication systems to drive greater value through interactions and ease of access to health care.”
The Radix platform uses industry-leading machine learning to help medical groups, health centers and hospitals across the U.S. deliver a smooth patient experience through patient-provider matching, schedule optimization, referral automation, and patient self-service applications.
“As a physician, I know how much the individual patient-provider relationship matters, and it’s at the very core of Relatient,” said Dr. Arun Mohan, CEO of Radix Health. “With Relatient we are confident that we will not only make it easier for patients to see their providers by expanding lines of communication between patients and caregivers but ultimately take their care delivery to the next level.”
Relatient is an all-in-one platform for patient engagement and outreach founded in 2014. The TCPA-compliant platform regularly improves the patient experience across practices, hospitals and health systems. For example, it helped Warren Clinic, an Oklahoma-based medical group, reduce its 10% no-show rate by 52% through patient messaging and custom automated appointment reminders. Another digital platform that combines objective price and quality data with industry-leading usability helping employers and employees get the best price for their upcoming medical procedure, is Healthcare Bluebook, founded in 2007. Details about how this platform works can be found out from our podcast guest, Michael O’Neil, Sr. Vice President of Strategy & Development. Healthcare Bluebook provides people and organizations with everything they need to be more effective healthcare consumers.
Radix Health, founded in 2014, is widely adopted among leading medical groups. The platform’s scheduling solution helped Tennessee Orthopaedic Clinics boost capacity utilization by 3.4% while also improving load balancing among providers, yielding an ROI of over $800,000.
Brighton Park Capital’s investment provides Relatient the capital needed to further its already significant growth as the healthcare industry continues to place emphasis on patient engagement via digital platforms. A survey by KLAS evaluating which patient engagement technologies have been most impactful to patients found arranging care and finding a provider were two of the top desires for patients, demonstrating the immediate need for seamless patient communication.
The transaction is scheduled to close in August. Upon closing, Relatient Inc., will have four offices located in Franklin, TN, Cookeville, TN, Atlanta, GA, and Pune, India.
Relatient, Inc., the 2020 KLAS Category Leader in Patient Outreach, is a SaaS-based patient engagement company that utilizes a mobile-first approach to improving patient and provider communication. On behalf of U.S. medical practices and health systems, Relatient engaged patients with more than 200 million messages in 2020 with their digital platform that integrates with over 85 practice management systems and electronic health databases. Relatient’s patient messaging, self-scheduling, digital registration, and billing solutions drive operational efficiency, new appointments and reviews, reduce no-shows, speed patient payments, and improve patient satisfaction, all while supporting health and care quality initiatives.
Radix Health is a technology company that believes that patient experience starts with patient access. Our data-driven solutions align provider supply with patient demand, maximizing existing capacity and reducing delays in care. We help leading medical groups to optimize every step of a patient’s appointment journey – from alerting patients to needed care, helping them find the right provider, scheduling an appointment across multiple channels, and engaging with patients until the day of their visit. We take the busy work out of getting patients in the door so you can focus on the hard work of keeping them healthy.
Brighton Park Capital is a Greenwich, CT-based investment firm that specializes in software, information services, technology-enabled services, and healthcare. The firm seeks to invest in companies that provide highly innovative solutions and to partner with great management teams and bring purpose-built, value-add capabilities that match the unique requirements of its companies.