October 19, 2017 12:10 PM ET

Health Care Technology

Company Overview of Modernizing Medicine, Inc.

Company Overview

Modernizing Medicine, Inc. develops a cloud based electronic medical record (EMR) systems for dermatology, ophthalmology, orthopedic, plastic surgery, otolaryngology, gastroenterology, urology, and rheumatology physicians in the United States. It offers billing, revenue cycle management, and inventory management solutions for medical specialties; Electronic Medical Assistant, a cloud-based specialty-specific electronic medical records system that is available as a native iPad application and from various Web-enabled Mac or PC devices; and implementation model, data, and ongoing support services. Modernizing Medicine, Inc. was founded in 2010 and is based in Boca Raton, Florida.

3600 FAU Boulevard

Suite 202

Boca Raton, FL 33431

United States

Founded in 2010

Phone:

561-880-2998

Fax:

561-423-5912

Key Executives for Modernizing Medicine, Inc.

Co-Founder, CEO & President
Age: 40
Co-Founder and Chief Medical & Strategy Officer
Chief Financial & Operating Officer
PRESIDENT of GMED
Senior EVP & General Counsel
Compensation as of Fiscal Year 2017.

Modernizing Medicine, Inc. Key Developments

Modernizing Medicine Plans to Expand Operations in Palm Beach County

The Business Development Board of Palm Beach County (BDB), in cooperation with Enterprise Florida and the City of Boca Raton announced that Modernizing Medicine plans to expand operations in the Boca Raton Innovation Center (BRIC) and that it will add 838 jobs by 2022. Modernizing Medicine anticipates making a capital investment of more than $15 million in the Boca Raton community. Modernizing Medicine, which also has a presence at the Research Park at Florida Atlantic University, has leased over 50,000 square feet where IBM built the first personal computer. While some company employees already work at BRIC, major renovations will begin this year and are expected to be completed by mid-2018.

Modernizing Medicine Announces Agreement with CoverMyMeds for Electronic Prior Authorization

CoverMyMeds and Modernizing Medicine announced an agreement to bring electronic prior authorization (ePA) functionality to the over 7,500 providers using EMA, the electronic health record (EHR) system in Modernizing Medicine’s suite of services. Prior authorization (PA) is the formulary management process of requiring pre-approval for certain prescribed medications that impacts more than 185 million prescriptions each year. Of those, 75 million prescriptions are abandoned, in part due to the burdensome PA process. Historically, PA requests have been completed through paper forms, faxes and phone calls among medical practices, pharmacies and insurance companies. Electronic prior authorization transforms the PA workflow into an electronic process that can minimize prescription abandonment and administrative waste. Modernizing Medicine is the latest EHR vendor to work with CoverMyMeds for electronic prior authorization.

Modernizing Medicine Announces Executive Changes

Modernizing Medicine has appointed Nadeem Dhanani, MD, MPH, Medical Director of Urology, as the newest member of the Electronic Health Record Association (EHRA)Executive Committee, and Ida Mantashi, PMP, LSSGB, Senior Product Manager, as the Chair of the EHRA's Quality Measurement Workgroup. In Dhanani new role, he will help to shape the guiding principles of the EHRA and contribute to the development and execution of its strategic plans. Mantashi joined company in 2015 and has since been leading the product teams' quality reporting initiatives such as Meaningful Use, EHR Certification and MIPS. As Chair of the Quality Measurement Workgroup, Mrs. Mantashi will assist in identifying opportunities and barriers related to how healthcare technology can facilitate improvements in care quality. The Quality Measurements Group focuses on clinical decision support and electronic quality measure collection and reporting.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 8, 2017
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