PatientPing is a winner of FierceHealthcare's Fierce 15 awards. See our other honorees here.
A ping can save patients’ lives. That’s why PatientPing was founded in 2013—to increase collaboration for a patient’s full care team.
The company, which "pings" health providers when one of their patients receives care at another facility, assists in coordination among doctors, nurses, and clinicians and help avoid costly mistakes, which harm patients and bring financial burden, according to the company.
PatientPing’s care collaboration software offers real-time data on the medical events that occur during a patient’s journey.
“Our approach improves care coordination and data interoperability by enabling access to real-time patient data that improves patient outcomes,” PatientPing CEO Jay Desai told FierceHealthcare.
Through e-notifications, PatientPing’s software provides care coordination among hospitals, post-acute care, health plans, and accountable care organizations, which are groups of doctors, hospitals, and other health care providers that coordinate care among Medicare patients.
“Patients fall through the cracks every day, with providers missing out on opportunities to best treat their patients due to a lack of information,” Desai said. “When providers struggle to collaborate with each other, it can lead to wasted resources, unnecessary procedures, and potential patient harm.”
Over the last seven years, PatientPing has grown its network of admission, discharge, and transfer (ADT) data. The company said that within the last year it had added hundreds of hospitals, post-acute facilities, and provider organizations to its network.
In 2014, PatientPing supported more than 242,000 patients and over 130 post-acute care physicians in its network. By 2016, PatientPing grew to support more than 5 million patients, over 900 post-acutes, and 200-plus hospitals. By 2020, the company had grown its network to support more than 43.2 million patients, over 6,000 post-acutes, and 1,000-plus hospitals.
In July, PatientPing scored a $60 million series C funding round co-led by Andreessen Horowitz, F-Prime Capital, GV (formerly Google Ventures), and Transformation Capital. That brought the company's funding to over $100 million.
Fierce Insights from PatientPing CEO Jay Desai
What is your best piece of advice for launching a healthcare company that challenges the status quo?
Make sure it helps the patient. The business of healthcare is a complex web of relationships. This is because it involves the user of the product (usually the patient or the provider) and the entity buying the product (often the insurance company). When you get into trying to create value for all the affected stakeholders, it’s easy to lose track of why you probably got into the industry in the first place, which is to help people. Stay focused on that goal.
What is the failure you’ve learned the best lesson from?
We have flopped on new product releases because we fell in love with our technology or the next shiny object, and lost focus on how we’re actually helping patients when they are sick.
What is the book you recommend to other healthcare leaders?
I like Ezekiel J. Emanuel’s book “Reinventing American Healthcare” because it’s such a good overview of the U.S. healthcare system, particularly with the Affordable Care Act as context. Given the transition to the Biden administration, I think this book continues to be relevant.
What is your prediction for how the healthcare industry will change in 2021?
COVID created the healthcare industry of 2030 with the unnatural shift to virtual care. I don’t think we’re fully ready to consume healthcare as virtually as it’s being consumed right now, so while I definitely don’t think we’ll go back to the 2019 mix of in-person/virtual care, it will revert back somewhat.
In light of the national conversation that is happening right now, what advice would you offer to healthcare leaders seeking to make a real impact on systemic problems of racism?
I’m stealing this from Dr. Thea James, who is a renowned emergency physician and thought leader on health disparities. She offered the straightforward and illuminating observation that we should start by just listening to patients’ needs. Marginalized communities have been clear about what they need for decades and, optimistically, we are seeing payers and providers making more resources available to make the necessary changes. The good news is that there are plenty of examples of local market successes across the country, so I don’t think we need to reimagine a new system. We just need to put our resources behind what patients have been asking for for decades.