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Modernizing Medicine
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Provides specialty-specific electronic health records systems
Modernizing Medicine
Work Here?
Provides specialty-specific electronic health records systems
About Modernizing Medicine
Industries
Biotechnology
Healthcare
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$376.2M
Headquarters
Boca Raton, Florida
Founded
2010
Overview
Modernizing Medicine provides specialty-specific Electronic Health Records (EHR) systems designed to improve the workflow of healthcare providers. Their main products, EMA and gGastro EHR, help users manage patient information and administrative tasks more efficiently, allowing them to concentrate on patient care. These systems adapt to the specific practices of each user, enhancing their effectiveness. Unlike many competitors, Modernizing Medicine focuses on tailored solutions for various medical specialties, which sets them apart in the healthcare technology market. The company's goal is to streamline healthcare delivery and improve patient outcomes by providing tools that simplify administrative processes.
Simplify's Take
What believers are saying
- Clearlake Capital's acquisition indicates strong investment interest in ModMed's growth potential.
- AI integration across workflows reduces administrative burdens, improving healthcare provider efficiency.
- Automated commissions reporting increases transparency and efficiency in financial operations.
What critics are saying
- Competition from AI-powered EHR systems like Epic Systems threatens ModMed's market share.
- Rapid AI development may render ModMed's current solutions obsolete if not updated.
- Data privacy concerns in AI-driven healthcare could lead to regulatory challenges for ModMed.
What makes Modernizing Medicine unique
- ModMed offers specialty-specific EHR systems tailored to various healthcare providers.
- Their AI-powered scribe for dermatology automates clinical documentation, enhancing patient care.
- ModMed's cloud-based platform integrates practice management and revenue cycle management services.
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Funding
Total Funding
$376.1M
Above
Industry Average
Funded Over
8 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Vacation
Paid Sick Leave
Paid Holidays
Parental Leave
401(k) Retirement Plan
401(k) Company Match
Professional Development Budget
Conference Attendance Budget
Hybrid Work Options
Remote Work Options
Wellness Program
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 4%Clearlake Capital has acquired a majority stake in Modernizing Medicine (ModMed) for $5.3 billion.
What You Should Know:– ModMed, a provider of specialty-specific healthcare technology announced the upcoming launch of ModMed Scribe, an AI-powered ambient listening solution designed to revolutionize EHR documentation for dermatologists.– The tool automates note-taking, streamlines workflows, and empowers dermatologists to focus more on patient care.Addressing the Documentation BurdenDocumentation demands can be a significant drain on clinicians’ time and energy, often taking away from valuable patient interaction. ModMed Scribe addresses this challenge by automating note-taking and streamlining workflows, allowing dermatologists to spend more time with their patients.AI Built for DermatologyTrained on a massive dataset of over 500 million de-identified patient-provider interactions, ModMed Scribe is specifically designed to understand the nuances of dermatological language, including complex medical terminology and evolving billing codes. This specialized AI goes beyond generic models, providing accurate and efficient documentation tailored to the needs of dermatologists.ModMed Scribe seamlessly integrates with ModMed’s industry-leading EMA® EHR system, further enhancing its capabilities and streamlining clinical workflows. Together, these solutions:Generate comprehensive clinical notes: Capture the details of patient-provider conversations, freeing clinicians from manual documentation.Capture the details of patient-provider conversations, freeing clinicians from manual documentation. Streamline post-note workflows: Suggest and pre-populate billing codes, medication entries, lab orders, and patient education materials, improving efficiency and reducing administrative burden.Suggest and pre-populate billing codes, medication entries, lab orders, and patient education materials, improving efficiency and reducing administrative burden. Empower dermatologists: Allow dermatologists to focus on building patient relationships and delivering exceptional care.ModMed’s AI-Powered PracticeModMed Scribe is part of ModMed’s broader AI-powered practice, which integrates artificial intelligence across various aspects of healthcare delivery, including patient engagement, clinical workflows, and billing and operations
ModMed launches AI-Powered Scribe for Dermatology to transform clinical documentation.
ModMed, a pioneer in specialty-specific healthcare technology, announced the upcoming launch of ModMed Scribe, an AI-powered ambient listening solution poised to transform EHR documentation from clicks to natural conversation for faster workflows and enhanced patient care in dermatology.
ModMed's AI-Powered Practice at AAD ModMed Scribe is part of ModMed's AI-powered practice that integrates artificial intelligence into patient engagement, clinical workflows, and billing and operations to improve patient interactions, reduce administrative burdens, and enhance revenue cycle efficiency.
Modernizing Medicine is Hiring for 80 Jobs on Simplify!
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About Modernizing Medicine
Industries
Biotechnology
Healthcare
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$376.2M
Headquarters
Boca Raton, Florida
Founded
2010
Modernizing Medicine is Hiring for 80 Jobs on Simplify!
Find jobs on Simplify and start your career today