Watershed Health Company Profile

Background

Founded in 2013 and headquartered in New Orleans, Louisiana, Watershed Health is a healthcare technology company dedicated to enhancing patient care coordination across the healthcare ecosystem. The company's mission is to reduce costs, improve the quality of care, and achieve better patient outcomes by facilitating seamless communication and data sharing among healthcare providers. Watershed Health's Software-as-a-Service (SaaS) platform connects various stakeholders, including health plans, hospitals, post-acute care facilities, primary care providers, and community-based organizations, to streamline care transitions and address the challenges of fragmented healthcare delivery.

Key Strategic Focus

Watershed Health's strategic focus centers on providing a comprehensive care coordination platform that enables real-time data sharing and collaboration among healthcare providers. The platform offers a patient-centric health record, real-time data sharing, advanced data analytics, care coordination metrics, and integration of social determinants of health. By integrating with existing digital tools, Health Information Exchanges (HIEs), and Electronic Health Records (EHRs), Watershed Health aims to bridge gaps in integration and real-time collaboration, thereby reducing duplication of services, preventing medication errors, and improving patient outcomes.

Financials and Funding

As of May 2024, Watershed Health has raised a total of $23.4 million in funding. The most recent funding round, completed in May 2024, secured $13.6 million and was led by First Trust Capital Partners, with participation from FCA Venture Partners, Create Health Ventures, Impact Engine, 450 Ventures, LDH Ventures II/Launchpad Digital Health, MassMutual Ventures, Capstar Partners, and Wanxiang Healthcare Investments. This capital infusion is intended to meet the growing demand for the company's real-time care coordination platform and to expand its engineering, development, customer success, and sales teams.

Technological Platform and Innovation

Watershed Health's platform is distinguished by several proprietary technologies and methodologies:

Patient-Centric Health Record: Consolidates essential patient data into a single, accessible location, facilitating informed clinical decision-making.

Real-Time Data Sharing: Enables timely exchange of patient information among care team members as soon as it is generated.

Advanced Data Analytics: Provides insights into key patient populations to support value-based care and population health management initiatives.

Care Coordination Metrics: Generates transparent, real-time quality metrics to measure and incentivize care coordination activities.

Social Determinants of Health Integration: Screens for social determinants of health and connects patients with community-based resources to address identified needs.

Seamless Integration: Integrates effortlessly with existing tools, systems, and workflows, minimizing implementation time and effort.

The platform is HITRUST-certified, ensuring compliance with key regulatory requirements for HIPAA, data security, and privacy.

Leadership Team

Dr. Arthur "Chip" Grant: Founder and Chief Executive Officer. An interventional cardiologist, Dr. Grant founded Watershed Health in 2013 to address the challenges of uncoordinated care he observed in his practice.

Lisa Stanley: Chief Operating Officer.

Effie Carlson: Chief Revenue Officer and Chief Strategy Officer.

Florin Micle: Chief Technology Officer.

Robbie Fuertes: Chief Financial Officer.

These leaders bring a wealth of experience in healthcare, technology, and business operations, driving the company's mission to improve patient care coordination.

Leadership Changes

In January 2021, Effie Carlson was appointed as Chief Executive Officer, bringing her expertise to lead the company's strategic initiatives.

Competitor Profile

Market Insights and Dynamics

The healthcare technology market, particularly in care coordination solutions, is experiencing significant growth due to the increasing emphasis on value-based care and the need to reduce healthcare costs. The demand for platforms that facilitate seamless communication and data sharing among healthcare providers is on the rise, positioning companies like Watershed Health favorably in the market.

Competitor Analysis

Key competitors in the care coordination and healthcare technology space include:

DoseSpot: Provides electronic prescribing solutions integrated with EHRs and pharmacy management systems.

AMC Health: Offers remote patient monitoring and telehealth solutions to manage chronic conditions.

SeamlessMD: Delivers digital patient engagement platforms to guide patients through their healthcare journeys.

Medical Information Technology (Meditech): Develops EHR systems for healthcare organizations.

Epic Systems: Provides comprehensive EHR solutions and is a major player in the healthcare IT industry.

These competitors focus on various aspects of healthcare technology, from EHR systems to patient engagement and remote monitoring, contributing to a dynamic and competitive landscape.

Strategic Collaborations and Partnerships

Watershed Health collaborates with major health plans and healthcare providers to enhance care coordination. Notably, Blue Cross Blue Shield of Alabama adopted the platform to support collaborative solutions aimed at improving healthcare across the state. Such partnerships demonstrate the platform's effectiveness in reducing hospital readmissions and improving patient outcomes.

Operational Insights

Watershed Health's platform addresses the critical issue of uncoordinated care, which costs the U.S. healthcare system approximately $340 billion annually. By providing a comprehensive point of connection among a patient's clinical and non-clinical providers, the platform reduces inefficiencies, prevents duplication of services, and enhances patient outcomes. Its seamless integration with existing digital tools and EHRs positions Watershed Health as a valuable partner for healthcare organizations seeking to improve care coordination.

Strategic Opportunities and Future Directions

With the recent funding and growing demand for its platform, Watershed Health is poised for nationwide expansion. The company plans to scale its operations to meet the needs of payers and providers across the U.S., further enhancing its platform's capabilities and expanding its customer base. By continuing to address the challenges of fragmented care, Watershed Health aims to drive transformational change in the healthcare sector.