Why partnership with DexCare is win-win for patients, health systems, and Define
We are thrilled to announce our continued partnership with DexCare, the leading patient access automation platform for health systems to intelligently orchestrate capacity and digital demand across all lines of care. In March 2021, Define Ventures led DexCare’s Series A round and we are excited to double down in their most recent $50m round of fresh capital.
With $250 billion of US healthcare spend potentially shifting to virtual or virtually enabled care post-COVID, US consumers are demanding flexibility and choice in how they receive care. As such, most health systems now offer a wide variety of in-person and virtual care options. The accelerated adoption of digital services provided as a result of the COVID-19 pandemic has compounded operational complexity and the need for future-proofed solutions.
Investing in DexCare represents a unique opportunity to invest in a company at the forefront of driving valuable volume toward health systems, a key component of every health system’s growth strategy. DexCare’s product provides flexibility and adaptability to health systems irrespective of size, geography, revenue model, and patient mix.
“Digitally-enabled care is now a strategic imperative for health systems. DexCare has proven itself during the COVID-19 crisis — enabling us to flex our operations across virtual, at-home and in-person care. It’s now an essential element as we move to make virtual care effective across our ambulatory business lines, at scale.” — Aaron Martin, Chief Digital Officer, Providence Health System
The DexCare platform has been pressure-tested at large, complex integrated delivery networks and partnered with health systems such as Providence Health System, Kaiser Permanente, Froedtert Health, Mass General Brigham, and Community Health Network (CHN). The platform marries up seamless patient experience with improved clinical operations, physician workflow, and administrative function — a feat achieved by few companies, let alone a startup.
DexCare has impressive ROI validated with large health systems. With an NPS of 94, DexCare providers attract 30% more patients while reducing visit costs by 22%. This is unprecedented during a time when providers are navigating significant waves of change.
This new round of financing will help DexCare drive continued expansion to serve health systems across the country. Our work with DexCare has spanned business development, strategic communications, and executive talent, including recruiting new board member Toby Cosgrove, renowned surgeon and former CEO of the Cleveland Clinic. Define has actively facilitated partnerships between DexCare and large provider systems and providing leading technical talent and best-in-class resources for fast growth.
We could not be more excited to play a part in Dexcare’s continued success as they redefine how consumers access care and how health systems are able to operationally meet those needs in a timely, personalized manner.
“I’ve founded 6 venture-backed tech startups with 4 successful exits, so I’ve worked with a lot of investors. We knew that choosing the right partners was about more than the money: it was about finding the right people to grow a meaningful business that can positively impact lives. Define Ventures is second to none.” — Derek Streat, CEO & Co-Founder