Wound care triage tech platform launches with $4.25m in funding
Summary
The Wound Company has launched from stealth with $4.25m in backing from Susa Ventures and Sozo Ventures.The funding will help the company in its aim to fix what it calls a broken industry of wound and ostomy care.The US-based start-up uses predictive analytics and multi-channel communications in its platform that connects patients and providers with wound and ostomy specialists. Appointments can be conducted virtually or in person.The telemedicine technology aims to allow patients with chronic wounds access treatments from a range of settings, including at home, hospitals, or long-term care facilities.The company has developed algorithms to assess individual patients risk levels and predict wound healing outcomes. By offering patient and population-level clinical reporting and integrating patient data, the platform should be able to streamline care for chronic wounds a condition that affects around 2% of the US population.GlobalData estimates the global wound care management market is worth $30bn, with it forecast to reach $38.8bn by 2030.In the US Medicare population alone, wound care is estimated to cost $28.1bn annually in the country. Its operating in the fee-for-service world, which pushes expensive procedures and products that help the bottom line, but dont impact outcomes for the patient. Were paid to heal wounds with continuous care and, in doing so, save money for health plans and at-risk providers.