Health Recovery Solutions

Health Recovery Solutions

Provides remote patient monitoring solutions

About Health Recovery Solutions

Simplify's Rating
Why Health Recovery Solutions is rated
B+
Rated C on Competitive Edge
Rated A+ on Growth Potential
Rated B on Rating Differentiation

Industries

Enterprise Software

Healthcare

Company Size

51-200

Company Stage

Series C

Total Funding

$87.1M

Headquarters

Hoboken, New Jersey

Founded

2012

Overview

Health Recovery Solutions (HRS) provides remote patient monitoring solutions to healthcare organizations, helping them manage patient care from a distance. Their main product, PatientConnect®, is a customizable kit that allows patients to monitor their health and share data with healthcare providers. This system enables providers to oversee a large number of patients remotely, enhancing patient outcomes while reducing costs. HRS also integrates with electronic health records (EHR), allowing for smoother workflows and real-time data updates, which minimizes paperwork for healthcare staff. Additionally, HRS offers reimbursement support, assisting healthcare providers in navigating the claims process with various payors. HRS stands out in the telehealth market by combining technology with dedicated support services, aiming to improve the efficiency and effectiveness of remote patient care.

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Simplify's Take

What believers are saying

  • HRS's RPM solutions align with the rise of value-based care models.
  • Telehealth reimbursement policy expansions create more opportunities for HRS.
  • HRS's partnership with Smart Meter enhances cost-effective RPM solutions.

What critics are saying

  • Emerging telehealth startups offer innovative solutions at lower costs, threatening HRS's market share.
  • Rapid technological advancements require continuous R&D investment, straining HRS's resources.
  • Data privacy concerns and regulatory scrutiny could impact HRS's operations and reputation.

What makes Health Recovery Solutions unique

  • HRS offers a customizable RPM kit, PatientConnect®, for personalized patient care.
  • HRS integrates EHR to optimize workflows and enrich patient records with real-time data.
  • HRS provides reimbursement support, guiding providers through complex claims processes.

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Funding

Total Funding

$87.1M

Above

Industry Average

Funded Over

5 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$70M
Health Recovery Solutions
$100M
Oura

Benefits

Flexible PTO

Company-sponsored events

Medical, dental, and vision plans (100% covered options)

3 months paid parental leave

Growth & Insights and Company News

Headcount

6 month growth

-9%

1 year growth

0%

2 year growth

0%
PR Newswire
Nov 25th, 2024
The Queen'S Health Systems Partners With Health Recovery Solutions (Hrs) To Launch Remote Patient Monitoring Program

HONOLULU, Hawaii, Nov. 25, 2024 /PRNewswire/ -- Health Recovery Solutions (HRS) is proud to announce a strategic partnership with The Queen's Health Systems to launch a comprehensive Remote Patient Monitoring (RPM) program through the Native Hawaiian Health Department. This initiative aims to enhance the management of chronic illnesses such as hypertension and diabetes among Native Hawaiians in the community, improve health knowledge, quality of life, expand access through innovative virtual technology, and extend the lifespan of Native Hawaiians in Hawaiʻi

Health Recovery Solutions
Nov 18th, 2024
HealPrecisely(TM) Selects Health Recovery Solutions as Partner for New Innovative RPM Program

HealPrecisely(TM) selects Health Recovery Solutions as partner for new innovative RPM program.

PR Newswire
Nov 18th, 2024
Healprecisely™ Selects Health Recovery Solutions As Partner For New Innovative Rpm Program

HOBOKEN, N.J., Nov. 18, 2024 /PRNewswire/ -- Health Recovery Solutions (HRS) is proud to announce that HealPrecisely™ has selected HRS as their partner of choice for their new Remote Patient Monitoring (RPM) program tailored for wound care patients requiring home monitoring to prevent hospital readmissions. This collaboration aims to improve patient outcomes and recovery. The costs of the RPM program are reimbursed as part of Chronic Care Management (CCM) for these patients

Hospitals Management
Oct 8th, 2024
Health Recovery Solutions Partners with Smart Meter to Provide Cost-Effective Cellular Remote Patient Monitoring for the Home

Health Recovery Solutions (HRS), the market leader in Remote Patient Monitoring (RPM) since 2012, proudly announces its partnership with Smart Meter to enhance the PatientConnect(R) Remote Patient Monitoring solution.

PR Newswire
Aug 7th, 2024
Health Recovery Solutions Surpasses 1 Million Patient Lives Impacted: A Decade Of Telehealth And Rpm Excellence

Surpassing the 1 million lives mark is more than a milestone; it's a beacon of hope and innovation in healthcare. Post thisA Vision Realized: Transforming Patient CareJason Comer, CEO of HRS, reflects on this journey: "Surpassing the 1 million lives mark is more than a milestone; it's a beacon of hope and innovation in healthcare. Our journey began with a vision to transform patient care, inspired by the personal struggles faced by our loved ones. Today, we stand proud, knowing that our Remote Patient Monitoring technology has not only reached, but empowered over a million hearts and homes."The Human Impact: Touching Lives and Strengthening CommunitiesJarrett Bauer, Chairman and Co-Founder of HRS, emphasizes the personal impact: "Each number in that 1 million is a life touched, a family supported, and a community strengthened. My grandmother's battle with cardiac issues was the spark that ignited our mission. Now, seeing the tangible impact of our work, I am reminded that at the heart of every innovation, every kit, and every statistic, is the unwavering spirit of human resilience and care."Comprehensive Remote Patient Monitoring TechnologyHRS's state-of-the-art RPM technology has been pivotal in reducing hospital readmissions, lowering costs of care, and improving clinical outcomes for more than 400 US and Canadian health systems, across nearly 20 distinct care settings, and supporting more than 100 clinical conditions including CHF, Diabetes, Postpartum Hypertension, Oncology, and COPD.Empowering Clinicians and Patients AlikeThe ClinicianConnect® clinical portal and PatientConnect® RPM platform have provided healthcare professionals and patients with the tools to ensure better outcomes and a personalized care experience.End-to-End Services for a Holistic ApproachHRS's full-spectrum services, including logistics, clinical monitoring, EMR integration, and reimbursement guidance, have allowed healthcare providers to focus on patient care.Analytics and Reporting for Continuous ImprovementHRS's data-driven strategy, through analytics and reporting, has been essential in achieving this milestone and driving continuous improvement in patient care and operational efficiency.As we commemorate this significant occasion, we extend our deepest appreciation to all the clinicians and HRS employees whose dedication has made this possible

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