Christine Jacobson, 860-834-1603
RubiconMD receives investment to grow access to specialty care for Medicaid populations
(Black PR Wire) NEW YORK--(BUSINESS WIRE)--RubiconMD, the leader in specialty eConsults, has announced a strategic investment from the California Health Care Foundation’s (CHCF) Innovation Fund. With the investment, CHCF supports RubiconMD’s innovative approach to improving access to specialty care through eConsults for primary care providers in Medi-Cal managed care plans. The additional investment, on top of the company’s recently announced Series A financing in May, led by Waterline Ventures, brings the total invested capital in RubiconMD to over $6 million to-date. Existing investors in RubiconMD also include Dioko Health Ventures, Alma Mundi Fund, health technology giant athenahealth and former Blue Cross Blue Shield of Florida CEO Bob Lufrano.
Specialty care is in short supply throughout California and statewide data shows that Medi-Cal enrollees are twice as likely as those with employer-based insurance to report difficulty seeing a specialist. These barriers to accessing specialty care are even more acute for Medi-Cal enrollees in rural areas, who report experiencing twice as much difficulty as enrollees in urban areas. RubiconMD’s digital health platform connects primary care providers to specialists enabling timely, expert clinical advice through eConsults.
“CHCF sees great potential in using eConsults and RubiconMD’s approach to improve access to healthcare for consumers in low-income or underserved communities in California,” said Carl Bouthillette, Senior Program Officer, CHCF Innovation Fund. “eConsults can improve access to critical specialty care, especially in rural areas where there are particular constraints to the supply of specialty care providers.”
“RubiconMD welcomes this investment and the opportunity it provides to bring eConsults to California Medi-Cal beneficiaries,” said Gil Addo, CEO and Co-founder of RubiconMD. “We believe RubiconMD’s eConsult program will not only improve access to specialty expertise, but also save patients time, and reduce their travel burden.”
eConsults on RubiconMD are managed through a web-based platform that matches primary care inquiries to specialists for advice, with a median response time of four hours or less. eConsults empower primary care providers to make more informed decisions on patient care plans and improve productivity. Studies have shown that eConsults can reduce specialty referrals by 40% and decrease wait times by 50%.
Founded in 2013, RubiconMD is a web-based eConsult service that enables primary care providers to quickly and easily discuss their cases with top specialists, so they can provide better care—improving the patient experience and reducing costs. We strive to democratize medical expertise, so that all patient populations have access to the care they need. Learn more at rubiconmd.com and carewithoutconstraints.com.
About the California HealthCare Foundation
The California Health Care Foundation is dedicated to advancing meaningful, measurable improvements in the way the health care delivery system provides care to the people of California, particularly those with low incomes and those whose needs are not well served by the status quo. We work to ensure that people have access to the care they need, when they need it, at a price they can afford.
The CHCF Health Innovation Fund brings entrepreneurial innovation to support the CHCF mission by investing in new and emerging technologies in the safety net. Find out more at www.chcf.org/innovation-fund.