Recora, a telehealth company providing virtual cardiac recovery, has announced a $20 million funding round. Its cardiac recovery program is also now available nationwide to providers and health plans.
The series A round was led by SignalFire, alongside participation from Valor Equity Partners and Pear VC. The capital will be used to scale nationally. The company currently partners with more than 100 health plans, including Geisinger, and 43 hospitals across 30 states, it said.
Though cardiac rehab is the standard of care for patients with heart disease, and improves life expectancy, its participation rates are notoriously low. There exist significant barriers to recruiting and enrolling patients, and few complete their programs. Recora wants to bring the entire recovery experience home for those who need it, executives said.
"At Recora, we believe that the future of heart health centers on cardiac recovery,” said Recora CEO and co-founder Abhishek Chandra in the announcement. “We need to go beyond cardiac rehab to build a deep, continuous relationship with heart disease patients.”
The startup’s cardiac recovery program aims to move rehab beyond the standard 12 weeks toward comprehensive care management. It offers virtual and hands-on tools, including tablets and blood pressure monitors, and on-demand, 24/7 access to multidisciplinary care teams. The program is offered in two versions—one for patients who are more tech-savvy, another for those less so, Chandra told Fierce Healthcare.
According to data from initial partnerships, Recora’s hospital readmission rate is 11%, lower than the national average, across Medicare patients with heart failure at six months. Its program completion rate is 87%, notably higher than the national average of 26%.
Chandra did not discount the possibility of integrating Recora with others. “We’re always looking to partner with health systems’ existing recovery programs,” he said. Recora’s biggest goal is to maintain the cardiac engagement of members. It also hopes to push forward the value-based care model.