CHA Accelerates Growth With Funding From Ironwood Investment Management
Relief for overloaded doctors and nurses, along with an expanding international clientele are timely factors
BRAINTREE, Mass.–(BUSINESS WIRE)–A preliminary investment of $250k will help healthcare innovator Clinical Healthcare Analytics (CHA) move more quickly against their near-term growth plans—including significant partnerships with a major electronic health record (EHR) provider and a new roster of US state, federal and international projects.
CHA’s approach to frontline analytics delivers real-time visualization of critical data in a manner that time-stressed clinicians can easily incorporate into their workflow. CHA’s visualizations provide an at-a-glance tool for impacting persistent issues for healthcare organizations. Users report improvements in outcomes, revenue, and—importantly—physician satisfaction. The company’s solutions have demonstrated a significant impact on measures like reducing readmissions and time-in-hospital, including factors such as preventing sepsis, diagnosing acute kidney injury, emergent respiratory conditions, and alcohol withdrawal. By harnessing latent EHR data, CHA’s solutions provide tremendous potential for impacting both clinical and financial outcomes.
“We have been on an aggressive growth path over the past eighteen months, even in the face of tremendous challenges in healthcare,” said Jerry Baker, President of CHA. “More and more clients are recognizing the value that optimizing their doctors’ and nurses’ interactions with electronic health charts can bring. By reducing the time a clinician spends in documentation—and we’ve seen time savings of more than 20% in a number of cases—these hospitals and healthcare networks can significantly improve the care they give to patients. They can often save on additional staffing such as scribes and medical transcriptionists. Beyond that, they also recognize real revenue and efficiency boosts along with jumps in overall satisfaction from their doctors and nurses. During these times of financial and staffing stress, those kinds of benefits are huge,” Baker said. “We are looking to bring these services to hundreds more hospitals over the coming 2-3 years.”
Clint S. Fish, MRFC, General Partner and Chief Investment Officer at Ironwood Investment Management (Apollo Beach, FL) was enthusiastic about his firm’s investment in CHA, saying, “This is an extremely good time to be in a position to help healthcare professionals make measurable gains in productivity. We’ve been watching CHA over the past several years and are really impressed with their reputation—not just among hospitals, doctors, and nurses—but with major healthcare technology providers, like Cerner, that are seeking ways to improve the appeal of their solutions around the world. CHA’s leadership represents a mix of doctors, nurses and revenue managers who’ve worked with electronic health records every day—alongside career IT experts who have a familiarity with healthcare technology solutions that dates to their inception. That earns them a lot of credibility in the industry and we see excellent potential for both domestic and global growth.”
According to Baker, the Ironwood investment represents the first of several institutional transactions expected in the first half of 2022. Further terms of the Ironwood investment were not disclosed.
About Clinical Healthcare Analytics/CHA
CHA is home to one of the only teams demonstrating real-world success in introducing powerful analytics at the point of clinical care. The CHA Foundation Suite is a leap forward in leveraging an organization’s EHR to deliver critical—and actionable—information at point-of-care. CHA is finally delivering on a long-promised vision for improved clinical care and optimized case management through timely analytics.
About Ironwood Investment Management
Ironwood Investment Management is a private equity management company which serves as the manager of the Ironwood Technology and Biotechnology Fund. The firm seeks to find and invest in technologies that promise to shape the future, improving human lives. The stated mission for their investments is to continue “Helping brilliant people do brilliant things.”
Contacts
Jerry Baker
CLINICAL HEALTHCARE ANALYTICS/CHA
15 Braintree Hill Office Park, Suite 102
Braintree, MA 02184
(617) 816-1889 / (561) 267-2038
info@clinicalha.com
