The healthcare system is fragmented, with efforts like patient engagement, care coordination, compliance and billing operating in separate silos. This, says Lumeon CEO Robbie Hughes, results in unnecessarily high costs and inconsistent patient care.
So he founded Lumeon in 2005 to put the system on “autopilot.” On Tuesday, the Boston-based company announced it closed on a $30 million Series D funding round, which it will use to further innovate its platform.
Lumeon’s Care Pathway Management tool brings the mountains of data collected by healthcare facilities to one place and then automates the “patient care journey” along the way, handing everything from communication to task management and analytics. This allows healthcare professionals to more effectively make decisions and interact with patients, providing the kind of personalized care that can only be done when information is accessible.
“We help health organizations take control of how they deliver care from end to end so they can operate more efficiently, safely, and predictably,” Hughes said. “With automation, we ensure each step is carried out immediately and without adding additional work onto clinical or administrative staff. By doing this, we can do what health systems have longed to achieve: ensure that every patient and provider is following the right protocol at the right time.”
The inefficiency of the healthcare industry has been known for a while, but the issue has become especially relevant in the midst of the COVID-19 pandemic, especially when it comes to telehealth. As a result, Hughes says the company has received an “enormous” amount of requests from facilities that need help navigating this new normal. So Lumeon launched a suite of tools specifically for coordinating virtual care. This includes a range of features including COVID-19 screening and remote home monitoring to telehealth appointment reminders and virtual waiting rooms.
This latest funding round was led by Optum Ventures and Endeavor Vision, and brings Lumeon’s total funding raised to more than $48 million. The fresh cash will help the company expand both its footprint and its team. Hughes says Lumeon plans to hire about 50 new people at its Boston headquarters, with open positions across its sales, marketing and delivery teams.
“This is an untapped opportunity in healthcare today, and one that we can help providers build more sustainable business models around,” Hughes said. “We’re excited to continue our growth, and extremely excited to have leaders in healthcare such as Optum supporting us to drive meaningful value and cut enormous costs out of the U.S. healthcare ecosystem.”
