Overview
ThoroughCare, established in 2013, is a prominent digital healthcare platform headquartered in Pittsburgh, PA. The company specializes in care coordination software, with a primary aim of improving quality of life through evidence-based wellness services. ThoroughCare's platform supports over 800 healthcare providers, offering tools for Chronic Care Management, Remote Patient Monitoring, Behavioral Health Integration, Transitional Care Management, Annual Wellness Visits, and Advance Care Planning. Their integrated solutions enhance patient engagement and streamline clinical operations by connecting with third-party systems and existing healthcare IT infrastructures.
Funding and Valuation
ThoroughCare has showcased significant growth potential, securing multiple funding rounds totaling $8.24 million. This includes a notable $5 million Series A round concluded in November 2024, led by Empactful Capital. Other prominent investors include Viewside Capital Partners, Cypress Growth Capital, and Innovation Works. The capital infusion underscores investor confidence, enabling advancements in technology, strategic account management, and service expansion.
Financials and Employee Data
- Estimated Annual Revenue: $4.7 million
- Average Revenue Per Employee: Approximately $112,000
- Employee Count: 42 employees
- Employee Growth: A significant 50% increase in the previous year
Leadership Team
The leadership team at ThoroughCare ensures strategic direction and operational excellence:
- Dan Godla, Founder and CEO: Drives innovation with over a decade of experience in information technology.
- Earl Hutz, Chief Operating Officer: Brings 20 years of expertise in Healthcare IT Operations to ensure seamless care delivery.
- Carol Helton, Chief Revenue Officer: Appointed in August 2023, spearheading market reach and revenue growth.
- Jeff Smith, CPP, Vice President, Client Success: Focuses on client engagement, having joined the team in 2021.
- Maryanne Miller, MHA, Vice President of Product Management: Enhances product offerings for value-based care.
- Vivek Subramany, Vice President of Marketing: Leads strategic marketing with over 15 years of experience.
- Loran Sekely, Director of Sales: Oversees sales strategies and initiatives.
- Madison Rodgers, Event Marketing Manager: Manages promotional and client engagement events.
- Joel Barnes, Program Manager - Data & Integration: Specializes in data management and integration protocols.
- Matthew Mornak, Sales Operations Specialist: Ensures efficient sales processes.
- Michelle Palmer, Product - Lead Reporting and Analytics: Manages analytics and reporting recommendations.
Strategic Initiatives
ThoroughCare is committed to advancing healthcare solutions through robust platform integration with electronic health records (EHR) and remote monitoring devices. Their collaborations, such as with PointClickCare, enhance coordinated care and support the seamless exchange of vital healthcare data. This strategy is integral to delivering efficient value-based care, marking ThoroughCare's dedication to continuous innovation and enhancement of its service offerings.
Competitive Landscape
The digital health market where ThoroughCare operates is highly competitive:
- Idelic: Revenue of $12.7M with 91 employees.
- Healthmonix: Close competitor with $4.9M in revenue and 44 employees.
- McBee Associates: Significant market player with $59.3M revenue.
Other Competitors:
1. CrossTx: Cloud-based care coordination.
2. HealthViewX: Orchestration platform for healthcare services.
3. Emgenex: Genomic testing and lab management.
4. Prevounce: Chronic care management and remote monitoring.
5. WellTrackONE: Annual Wellness Visit and COVID-19 testing programs.
Market Differentiators
ThoroughCare's integration capabilities with third-party healthcare systems stand out as a key differentiator. These capabilities optimize chronic care management, patient assessments, and enhance comprehensive healthcare management programs such as CCM and AWV.
Growth Opportunities
The substantial 50% employee growth indicates a robust expansion phase, highlighting potential market opportunities and strategic internal growth. ThoroughCare's ongoing focus on technological advancement, alongside increasing demands for integrated healthcare solutions, positions it to leverage its strengths in collaborative healthcare management and secure a strong market position amidst formidable competitors.
