Videra Health Raises $3 Million in Seed Funding to Scale Remote Patient Monitoring for Behavioral Health
Videra Health, a remote patient monitoring video platform for behavioral health, has announced $3 million in seed funding to address the black box of patient-provider engagement in-between appointments. The round is led by Peterson Ventures, with Rose Park Advisors, OATV, and Utah investor Jeremy Andrus. Videra Health hosts thousands of patient engagements every month for behavioral health providers nationwide to power personalized, more effective care.
Videra Health: Solving Behavioral Health’s Black Box Problem
Videra Health believes mental healthcare has a black box problem. Even before the pandemic, behavioral health has been notoriously underfunded. It’s hard to follow up with patients. It is tough to prioritize who is most at risk. In addition, a shortage of time and providers makes it nearly impossible to actively intervene and provide the level of care that patients need.
As patient volumes rise and staffing issues continue, an effective and seamless platform to power follow-ups with our patients post-discharge is mission critical. Understanding our patients’ status and outcomes after they’ve left our facility enables us to intervene and support patients at the right time as we work to address the mental health crisis unfolding today. Technologies like Videra Health are instrumental in pushing this effort forward.Eric Kim, senior vice president, Signature Healthcare Services
COVID-19 lockdowns, policy changes, and family disruptions created a more prominent black box than we already had in behavioral healthcare, according to Videra’s website. Most of what impacts mental health outcomes happens outside the clinic and under the surface, where providers likely won’t see it or hear about it. Instead, healthcare providers see a quick picture in time — a sort of outer layer snapshot black box full of how patients feel and react to things that happen in everyday life.
Videra Health is an FDA-registered digital platform that connects providers and patients anytime, anywhere between visits and post-discharge. Videra allows providers to see the right patient at the right time. Patients receive an invitation to check in with their provider by answering traditional healthcare assessments questions and answering on video. The platform then extracts both quantitative and qualitative patient data and quickly organizes and analyzes that data to assist with clinical decision-making.
Funding to Scale Behavioral Health Remote Patient Monitoring
Health outcomes are overwhelmingly tied to what happens outside of scheduled office visits. Unfortunately, most treatment gets squeezed into short, periodic appointments. According to the announcement, Videra Health’s growth and funding come at a critical time. An overwhelming majority, 91 percent, of providers believe remote patient monitoring (rpm) and post-discharge surveys are essential (note, this reference from Videra Health is from 2018. More recent surveys show that remote patient monitoring plays a vital role in the health of patients). Meanwhile, 86 percent of patients are interested in more engagement between appointments. Videra Health customers report gathering more and higher quality patient data to fuel better care interactions and interventions, even while saving approximately 88% of staff time.
Even before COVID-19, behavioral health was woefully underfunded and understaffed. As the mental health crisis mounts, more and more patients need to be seen by our current providers. It is critical to equip providers with a scalable way to gain insights about patients both at and between appointments, the latter of which is traditionally a black box to providers. Our asynchronous telehealth platform opens this black box, giving behavioral health specialists easy-to-access, actionable patient data, so they have deeper insights about patients across the continuum of care.Loren Larsen, founder, and CEO, Videra Health
About Videra Health
Videra Health is a remote patient monitoring video platform for behavioral health, powering rich interactions between patients and providers to open wide the black box of patient information that gets lost between visits. The FDA-registered digital platform connects providers and patients anytime between visits and post-discharge via written and video assessments that translate into actionable quantitative and qualitative patient data. Videra is based in Utah, led by internationally-recognized healthcare and video-analytic experts, and backed by investors such as Peterson Ventures, Rose Park Advisors, OATV, and Jeremy Andrus.