RemCare Inc. raised $1.9 million in equity and warrants for the development of a care coordination software product.
The Skokie, Ill.-based health information technology firm develops technology platforms that use evidence-based best practices to coordinate healthcare among hospitals, community providers, family members and patients.
The money raised so far from 17 individual investors is part of a $3.3 million funding round, according to a Securities & Exchange Commission filing.
At the time of the company’s launch in 2008, CEO Ben Albert was an executive at PatientKeeper Inc. and Jim Wills, now an adviser to RemCare, was finishing a master’s degree in healthcare policy. Both co-founders watched the eldercare system fail their grandfathers, who were in and out of hospitals for unnecessary reasons.
Remcare released its first HIT product, MYremcare, in 2009. Home care agencies including Home Instead, Senior Helpers and Right At Home use the software to grow their businesses and develop new services by boosting communication among care team members.
This year, Remcare unveiled its flagship product — Care Team Connect — to reduce hospital readmission rates, power accountable care organizations, make care management more efficient, improve patient outcomes and increase patient satisfaction, the company said at its website.
Like MYremcare, Care Team Connect enables medical staff to communicate and coordinate their efforts. But these connections are aimed at rooting out the causes of hospital readmissions.