New Orleans-based healthcare technology company, Watershed Health, has successfully raised $13.6 million in its latest funding round. The round was spearheaded by First Trust Capital Partners, with substantial contributions from FCA Venture Partners, Create Health Ventures, Impact Engine, 450 Ventures, LDH Ventures II/Launchpad Digital Health, MassMutual Ventures, Capstar Partners, and Wanxiang Healthcare Investments.
The newly acquired funds are earmarked to meet the increasing demand from payers and providers across the United States for Watershed Health’s real-time care coordination Software-as-a-Service (SaaS) platform. The company plans to significantly speed up its engineering, development, customer success, and sales teams to support this expansion.
Under the leadership of CEO Dr. Chip Grant, Watershed Health is dedicated to enhancing patient care coordination by seamlessly connecting diverse healthcare providers within the ecosystem. The company’s platform is designed to reduce costs, elevate the quality of care, and improve patient outcomes by facilitating efficient communication, collaboration, and data sharing among providers. The platform provides real-time, data-driven insights, enabling healthcare professionals to make well-informed clinical decisions promptly.
Watershed Health’s solution is HITRUST-certified, ensuring compliance with critical regulatory standards for HIPAA, data security, and privacy. The platform offers healthcare providers a curated list of relevant, real-time clinical data at the point of care, integrating smoothly with existing digital tools, Health Information Exchanges (HIE), and electronic health records (EHRs). Additionally, it features a virtual workspace where providers can pose questions and collaboratively address patient issues.
A notable aspect of Watershed Health’s platform is its emphasis on accountability in care coordination. It generates proprietary quality measures, which are accessible to other providers and payers seeking high-impact care partners. This transparency fosters a collaborative environment where care providers can strive for and achieve higher standards of patient care.
Currently, Watershed Health serves four of the six major US health plans and a vast network of clinical and non-clinical providers. These clients collectively deliver care to over five million patients, encompassing national health systems and leading post-acute healthcare organizations.
With the expansion of its teams and enhancement of its platform, Watershed Health is set to further its mission of transforming patient care coordination and achieving better healthcare outcomes nationwide.
