Bivarus, a patient-centered analytics company working with healthcare organizations to measure and analyze patient experience, announces that $1 has been closed. Round 9 million to capitalize on demand for its software-as-a-service (SaaS) platform. Excelerate Health Ventures led the round, together with other investors.
Bivarus is a response to frustration among hospital-based outpatient service line leaders, community-based clinics and group practices, and their inability to obtain statistically accurate data on patient experience and its impact on the delivery of care. Current measuring tools are burdensome to patients, plagued by low response rates, and are neither timely nor actionable.
Bivarus has changed the current method of patient survey by providing sophisticated yet simple cloud-based services and analytics. This approach significantly reduces response fatigue and improves patient response rates 3-5x over traditional methods.
‘As a member of the UNC Healthcare Heart & Vascular Network, every patient encounter becomes an opportunity to learn and improve,’ said Joel E. Schneider, MD, FACC, North Carolina Heart Cardiologist and Vascular ‘With Bivarus, we are now able to measure the patient’s experience at much higher response rates, increase our confidence in the validity of the data and our ability to exceed our primary goal of improving our quality of care. ”
Bivarus has experienced rapid growth, doubling its customer base over the last few months. The company hires additional customer success managers, sales professionals and software developers to support its continued growth.
‘The market is well established, but little innovation has been seen over the years. Physicians and nurses continue to express frustration with tools that are overly focused on external benchmarking. The market is ripe for disruption,” said Gary Abrahams, Managing Partner, Excelerate Health Ventures. ‘We have talked to dozens of physicians and health leaders who have not been well served by the status quo and are desperately looking for alternatives. With Bivarus, ‘in-the-trenches’ providers now have more accurate data on which they can actually act to make appropriate improvements. ”
Bivarus is committed to building up its operations in the Research Triangle region. For more information on current job openings, please see http://bivarus Com/company/#opening
With its cloud-based analytics platform, Bivarus brings a completely new science of measuring patient experience to hospital-based outpatient services, community-based clinics, and large-scale group practices. Measuring and improving the delivery of care and quality of life outcomes-from a patient perspective-has become one of the top priorities of the healthcare system. Bivarus is at the forefront of providing a patient-centered analytics platform for accurate measurement of meaningful and workable insights into drivers impacting on organizational and provider performance. With Bivarus, healthcare organizations can more easily identify opportunities for recovery of services and improve quality, coordination of care, team performance and patient safety. For more information, please visit