chartspan-medical-technologies Research by SuperAGI

Company Overview

ChartSpan Medical Technologies is a prominent leader in the U.S. digital health sector, focusing on Chronic Care Management (CCM). The company provides comprehensive patient engagement solutions aimed at transforming patient care from reactive to proactive management, particularly for seniors with chronic conditions. With a mission to improve patient quality of life, ChartSpan facilitates value-based care solutions for both healthcare providers and their patients. Located in Greenville, SC, ChartSpan has a strong market presence bolstered by substantial growth metrics and a team committed to innovation in healthcare delivery.

Key Offerings and Services

ChartSpan offers a suite of services designed to enhance the efficiency of healthcare practices while improving patient outcomes:

Chronic Care Management (CCM): Comprehensive care coordination services designed to maximize the potential of patient care.

Advanced Primary Care Management (APCM): Provides remote and personalized care specifically for Medicare patients.

Annual Wellness Visit Software (AWV): Aims to optimize the wellness visit process, enhancing practice revenue.

Quality Improvement Services: These are complimentary for CCM clients to boost overall practice performance without additional expenses.

Market Position and Impact

ChartSpan serves over 175 practices and health systems across the country, coordinating about 3 million patient encounters monthly. This has led to notable healthcare outcomes such as reducing patient annual costs by $2,457 per patient and maintaining a +45% enrollment rate in patient services. Furthermore, ChartSpan's "Engagement-as-a-Service" model sets it apart through high patient engagement rates with personalized and interoperable technologies, solidifying its market positioning.

Leadership

Christine Hawkins serves as the Chief Executive Officer, bringing over 25 years of healthcare executive experience emphasizing value-based care. She succeeded Jon-Michial Carter, now the Chief Growth Officer. The leadership team also includes Shane Grivich as the Chief Strategy Officer and Julia Coto as Chief Financial Officer. Together, they guide the strategic vision and foster sustainable growth for the company.

Financial Insights

ChartSpan has raised approximately $38.65 million through seven funding rounds, including a significant $15 million Series A round led by BIP Capital. The company has recently secured a loan of $1.5 million in April 2020, highlighting continued investment in technological advancements. According to recent metrics, ChartSpan's estimated annual revenue stands at $26.3 million, with a workforce of 175 employees, reflecting a 28% growth rate over the past year.

Competitive Positioning

ChartSpan is recognized as a leading player in the digital health industry, with a notable ranking in CEO scores on competitive platforms. It faces competition from companies such as CareSync, Verge Health, and OneWorld Health, each offering distinct strengths in chronic care management and patient engagement solutions.

Key Competitors

CareSync: Technology-driven chronic disease management services.

Verge Health: Strong market presence with $32.3 million in revenue and 210 employees.

OneWorld Health: Smaller scale competitor with $5.2 million in revenue.

Additional Competitors: Chronic Care Management, Inc., Orb Health, Cerner Corporation, CLINICAL REVIEW SOLUTIONS LTD.

Values and Culture

ChartSpan's organizational culture is rooted in the principles of compassion, accountability, respect, and excellence. These values drive operational practices that ensure high standards of patient care and robust employee engagement. The company's dedication to innovation and exceptional care programs is consistently reflected in its strategic initiatives and community involvement.

Market and Industry Insights

ChartSpan's services align with industry trends in CCM and Medicare compliance systems. The company has been recognized in the past as the most downloaded medical app in the U.S. and was included in the Top 10 Most Innovative Companies in America in 2015.

Strategic Initiatives and Recent Developments

ChartSpan is expanding its capabilities through strategic funding efforts, such as the $15 million funding round in June 2019 aimed at bolstering their chronic care management services. The company's commitment to technological advancement and patient engagement through digital health solutions positions them robustly amid the evolving landscape of healthcare service providers.