With $20 million from a Series C funding round, Real Time Medical Systems is expanding its playbook to deliver more enhanced data interoperability solutions to support post-acute care (PAC) providers and their healthcare partners.
Enhanced data transparency is enabling ACOs, hospitals, and PAC network providers to drive better care coordination across the continuum while improving financial outcomes. By tracking and sharing live EHR data (including narrative notes), Real Time says it bridges the gap between acute and PAC settings to improve patient outcomes, such as readmission rates and length of stay, and establish better standards of care and clinical workflows.
Baltimore-based Real Time’s analytics platform uses live clinical alerts coupled with recommended interventions to enable care teams to reduce hospital admission rates, detect early signs of infectious diseases, and improve patient outcomes throughout the continuum of care.
In one example of its recent work, Real Time announced a partnership with the Tennessee Hospital Association Center for Innovative Solutions. THA members, through Real Time’s collaborative solution, now have access to live data pulled directly from the post-acute EHRs, establishing live monitoring of patients’ progression and immediately alerting them to interventional moments of care to avoid adverse events from occurring. THA members can work with their entire PAC network to reduce 30-day readmissions, minimize length of stay, and perform risk stratification at both the patient and facility level.
“The healthcare industry is at a pivotal moment, which presents both significant challenges and tremendous opportunities,” said Scott Rifkin, M.D., executive chairman at Real Time, in a statement. “This past year has shown that seamless care coordination and data interoperability are vital to improving patient care between varying clinical settings. This Series C investment [led by BASE Capital and SunBridge Capital] will help us reach the next stage of growth to meet these challenges head on while further partnering with our customers to advance our innovative solutions.”
The company recently added Michael Wylie, vice president of development for Genesis HealthCare and the current PAC Chair of the Pennsylvania Health Care Association, to its board of advisors. “As we emerge from the pandemic, post-acute providers have an entirely new set of challenges to navigate, including staffing shortages, value-based care, funding concerns, and lower occupancy rates,” said Wylie in a statement. “I look forward to supporting Real Time’s efforts to help facilities address these challenges head-on and providing insights to enhance its solutions in delivering superior patient care, while minimizing the administrative burdens so many clinicians face today.”