SteadyMD, a business-to-business provider of telehealth software, has picked up BlocHealth to streamline the onboarding process for clinicians as part of its virtual care workforce.
The deal will boost SteadyMD's internal efforts around clinician licensing and payer enrollment and will help its customers with medical credentialing. SteadyMD operates in all 50 states and offers healthcare providers with clinicians and technology to run telehealth operations.
"By enhancing our licensing and credentialing capabilities for in-house clinicians, as well as our partners who have their own clinicians, the acquisition benefits the entire ecosystem and makes us the first telehealth infrastructure provider to offer both a 50-state clinician workforce and a full-service licensing and credentialing platform available to our partners," Guy Friedman, CEO and co-founder at SteadyMD, told Fierce Healthcare.
BlocHealth, founded in 2017, provides clinician licensing, credentialing and payer enrollment services.
The companies did not disclose financial terms of the deal. St. Louis-based SteadyMD and St. Petersburg, Florida-based BlocHealth will continue to operate under their current names.
“SteadyMD’s nationwide, tech-enabled and board-certified clinician workforce is core to our business, as is our ability to quickly recruit, train and deploy these clinicians in a manner that maintains compliance across all fifty states,” Friedman said in a statement. “The licensing and credentialing platform developed by BlocHealth will play a key role in helping us scale our clinician workforce even more efficiently to better serve patients and our partners.”
With BlocHealth's capabilities, SteadyMD's capabilities now include state license registration, payer enrollment, renewals, DEA/CSR registration, primary source verification, ongoing monitoring and smart notifications.
"This acquisition will enable us to continue evolving, iterating and expanding our core offerings to best serve our partners and clinicians," Friedman said.
“We’re excited about joining the SteadyMD team,” said Jared S. Taylor, BlocHealth’s Founder. “Together we will have an end-to-end solution for healthcare administration. Our customers can effortlessly store and use their credentialing data in one place.”
Launched in 2016, SteadyMD initially focused on providing primary care to consumers and then shifted to a business-to-business model. The company works with employers, healthcare organizations, labs and diagnostics companies, pharmacies, payers and digital health brands. Along with a 50-state clinician workforce, SteadyMD also provides clinical operations and legal and regulatory guidance.
In 2021, SteadyMD banked $25 million from investors that included actor Ashton Kutcher’s Sound Ventures and Anne Wojcicki, co-founder of 23andMe. SteadyMD investors also include Lux Capital, Pelion Venture Partners, NEXT VENTŪRES, Acrew Capital and Draper Associates.