The new investment will enhance growth initiatives, accelerate development, and support additional research to enhance platform capabilities.
Phrase Health, a leading SaaS-based healthcare platform, today announced that it has closed a $3 million investment round led by digital health venture capital firm LionBird, with participation from health IT leaders Vizient and BioAdvance. This investment will be used to support the company’s growth initiatives and further its mission of improving the quality of clinical care delivery through optimization of workflows and management of electronic health records (EHR) data.
“Our platform empowers hospitals to gain insights on their processes and workflows and easily makes that data actionable,” said Dr. Marc Tobias, CEO and co-founder of Phrase Health. “With this support from knowledgeable leaders in the health IT space, we are in a position to accelerate growth and focus on additional research and development to enhance our current capabilities, ultimately improving the experience for clinicians and quality of healthcare for patients.”
Phrase Health enables healthcare quality improvement using data sources, principally EHR data, and collaborative tools to drive clinical quality measures and outcomes. Its platform allows providers to assess and monitor the effectiveness of quality improvement initiatives. Its user-friendly platform easily allows providers to measure effectiveness and make EHR data actionable.
“We’re eager to invest in Phrase at a particularly exciting time in the company. We found several compelling reasons to invest, but principally were impressed with their clients’ strong descriptions of ROI from Phrase’s solution and the team’s deep knowledge about the issues their clients are facing,” said Robert Lord, Partner at LionBird. “The company’s efforts linking health systems’ EHR interventions to quality measures is a compelling shift at a time in which the industry is moving towards value-based care.”
This investment announcement follows the company’s recently received National Institute of Health STTR grant, and a previous investment from Sequoia’s Scout program and BioAdvance in 2019.
INTERACT WITH PHRASE HEALTH
Learn more about Phrase Health Outcomes: https://www.phrasehealth.com/
- Follow us on Twitter: @PhraseHealth
- Connect with us on LinkedIn: https://www.linkedin.com/
company/phrase-health/
ABOUT PHRASE HEALTH
Phrase Health is a healthcare technology company focused on improving the quality of clinical care delivery through the optimization of workflows and management of electronic health data. The award-winning company was founded in 2018 by board-certified clinical informatics physicians after spinning out technology developed within Children’s Hospital of Philadelphia. The company’s software provides web-based analytics dashboards and collaboration tools to better understand clinical processes and electronic interventions like alerts and order sets. The company has customers that span academic health systems, community health networks, and stand-alone pediatric hospitals. Learn more at https://www.phrasehealth.com
ABOUT LIONBIRD
LionBird is a venture capital firm investing in pre-scale digital health companies with operations in Tel Aviv and the U.S. Founded in 2012 by veteran entrepreneurs and Fortune 100 executives in the software and healthcare industries, LionBird provides pre-scale capital and assistance to mission-driven teams re-engineering the healthcare status quo. Since its inception, the firm has invested in more than 30 founding teams across the U.S. and Israel. To learn more about LionBird or to contact the team, visit www.lionbird.com.
