The Right Place Raises $2 Million in Seed Funding; Selected for Healthbox and Intermountain Healthcare Integrated Innovation Program in Salt Lake City

MEDIA CONTACT
Tania Kempf, Divino Group
(650) 281-7556
media@therightplace.com

The Right Place patient placement SaaS platform enables faster, smarter patient referrals – from hospital discharge to skilled nursing facilities – and real-time business analytics to improve coordinated care and patient outcomes

October 20, 2015 06:00 AM Central Standard Time

HOUSTON, TX – The Right Place, a software-as-a-service (SaaS) platform that makes it easier for healthcare service providers to match post-acute patients to the right place of care, today announced that it has raised $2 million in seed funding from angel investors, and has been selected to participate in the 2015 Healthbox Integrated Innovation Program in Salt Lake City, Utah, a collaborative business accelerator program.

The Right Place will use the $2 million in funding for sales, marketing and continued product development to further iterate, refine and expand its patient placement SaaS platform and services. The company’s first commercial SaaS offering for skilled nursing facilities (SNFs) has been in beta testing for the last year with providers in the Boston area. The SNF solution reduces the time, effort and costs associated with care coordination and patient placement, enabling SNFs to more effectively match beds with the patients that they can serve best, at a pace that’s friendly to the bottom line.

      Highlights of the SNF SaaS solution include:

 

  • The BedBoard™ iPad app which equips SNF admissions teams with a digital bed board and the ability to view facility occupancy, create and edit referrals, accept and assign referrals to beds, and to see real-time data analytics on the trends and performance of the business;
  • The Case Messenger™ iPhone app which allows clinical liaisons, while meeting with patients and discharge planners at hospitals, to create and share all pertinent patient data with their SNFs on the fly, including Medicare eligibility details for each patient referral; and
  • All SNF data is safely stored in the most secure, HIPAA compliant Amazon Web Services (AWS) environment and is protected both in storage and in transit to mobile devices using 256-bit encryption and SSL security protocol.

“Discharging patients from the hospital to a post-acute care facility is a cumbersome and sometimes biased process that is fraught with challenges,” said Dr. Alan Abrams MD, MPH and Co-Founder, The Right Place; Chief Medical Officer, Beth Israel Deaconess Care Organization; and Assistant Clinical Professor in Medicine, Gerontology Division, Harvard Medical School. “Among Medicare patients, almost 24 percent who are discharged from hospitals are readmitted within 30 days. Our mission is to provide a simpler more effective way for hospitals and skilled nursing facilities to more effectively match the right patient with the right facility to improve both the quality of care for patients and the financial well-being of healthcare systems.”

The Right Place is also announcing that it was selected to join nine other healthcare IT startups to participate in the 2015 Healthbox Integrated Innovation Program in Salt Lake City, Utah, which is supported by partners Intermountain Healthcare, Zions Bank, HealthEquity and BD (Becton, Dickinson and Company). Companies were selected for the program based upon founding teams and the critical challenges they are solving from a pool of 130 highly competitive applicants. This week, Healthbox and Intermountain Healthcare announced the class cohort and eight week business accelerator program which kicked off this month.

“Healthbox has a proven track record in helping organizations accelerate growth and reach their full potential,” says Katherine Chambers, Co-Founder and CEO of The Right Place. “We expect that the mentoring and training this program provides will help us to quickly test, iterate, refine and bring to market our broader end-to-end patient placement SaaS offering that will optimize healthcare provider effectiveness, efficiency and patient choice across SNFs, hospitals, ACOs, patients, and caregivers.”

About The Right Place
Founded in 2013, The Right Place was started by healthcare and technology veterans committed to improving the patient care coordination process in order to deliver a better patient experience, help reduce hospital readmission rates, and lower healthcare costs. The Right Place is a secure, software-as-a-service (SaaS) platform that uses the cloud, mobile apps and data analytics to provide a more fluid and efficient process for healthcare service providers to identify and match post-acute care patients to the right place of care, while creating better value, transparency and outcomes for healthcare providers, accountable care organizations (ACOs), caregivers and patients.http://www.therightplace.com

About Healthbox
Founded in 2011, Healthbox (www.healthbox.com) was one of the first business accelerators in the healthcare industry and has grown to be a preeminent source of global healthcare innovation. Our vision is to drive sustainable innovation through a supportive ecosystem of entrepreneurs, industry organizations and investors. Our Studio programs offer serious entrepreneurs the candid, unparalleled healthcare industry access and insight needed to succeed in a complex marketplace. We also partner with leading healthcare organizations through our Foundry programs to advance a culture of idea generation, business creation and external collaboration. With operations in Boston, Chicago, Florida, Salt Lake City, London and Tel Aviv, Healthbox is building an international community dedicated to driving change in healthcare. Healthbox has worked closely with more than 100 healthcare companies and has strategic partnerships with more than 30 healthcare organizations.


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