Scaling up our impact with Series B funding
Topics: DrDoctor in the news
We're absolutely delighted to announce a new £10m of investment to support DrDoctor in an exciting new chapter. This money will allow us to accelerate our product plans in all areas, including plans to deliver patient-initiated models of care to integrated care systems (ICS). It includes making integration enhancements to the platform to meet the needs of all providers, and implementing a new artificial intelligence (AI) tool to help the NHS predict and prevent missed appointments.
We will be focusing on extensive product development to provide the latest patient-engagement tools and remote data collection to help our customers improve productivity, clinical outcomes and patient experiences.
We'll also be enhancing our integration abilities and developing key industry partnerships to broaden our capabilities for backlog management, including working with virtual wards and remote monitoring suppliers. Already, DrDoctor is integrated with 80% of electronic patient records (EPR) and patient administration systems (PAS) in the NHS. These new relationships mean they can create an ecosystem that provides an end-to-end solution for ICSs.
Tom Whicher, Co-Founder and Chief Executive, DrDoctor, said: “The NHS backlog includes more than 7 million appointments. We need to see a wholesale shift in the way we approach healthcare if we are going to tackle this number and relieve the pressure on stretched NHS services. This latest investment means we can move faster on our journey to digital-first, personalised care, which will help release clinical capacity and improve productivity across regional footprints rather than just individual acute trusts.”
“We can plug and play with other suppliers. We can streamline pathway workflows and ensure patients receive a personalised and seamless interaction with the health service, irrespective of where they are on the pathway, and at home where possible.”
The investment will also go towards rolling out a new predictive AI tool to identify and respond to patients that are likely to miss their outpatient appointments.
Tom explained: “Our Did Not Attend (DNA) prediction model is going to stop appointments going to waste, save consultants’ time and help trusts’ improve productivity. Plus it will help providers understand why they’re missed in the first place, and help protect the
most vulnerable in society. This is a £1 billion problem for the NHS, and is an area where we can particularly address health inequalities.”
Our platform already helps trusts to reduce DNAs by up to 30%, and this new functionality is expected to increase this by a further 18%.
The fundraise is led by YFM Equity Partners, and supported by existing DrDoctor investors, Ananda Impact Ventures and 24 Haymarket.
Helen Villiers, Investment Director at YFM Equity Partners, said: “Today the NHS is under supreme amounts of pressure. Coming off the back of a global pandemic, health inequalities have been exacerbated and major system inefficiencies revealed, meaning patients and clinicians alike are in need of solutions such as DrDoctor’s more than ever.
The company has demonstrated exciting growth and we have been really impressed with the team and their deep understanding of the NHS, knowing how to meet new system demands without sacrificing patient care quality. The company have a well-defined plan to ensure they continue on this trajectory – we are looking forward to working with them to help them reach their goals.”
Tom said: “In the next few years, the health service will be transformed by digital first models, and end to end pathways across care boundaries. This funding will play an important part in our journey to helping the NHS work better. We’re incredibly grateful for the support.”
DrDoctor already has a amazing footprint in the NHS, working with more than 45 trusts and health boards. Through its suite of patient engagement tools, the company has helped to relieve pressure on NHS organisations by supporting them to take a digital-first approach to care. For example, the company has enabled trusts to reduce the number of face to face appointments by 70%, and improve operational efficiency by 30%, as well as reducing administrative costs and promoting better experiences between patients and clinicians.