I am very excited to welcome Andor Health, a company that harnesses machine and human intelligence to change the way care teams connect and collaborate with patients, to the M12 portfolio as their sole Series A investor.
The global pandemic has forced an important focus on the healthcare industry and the infrastructure that supports it. While COVID-19 has introduced new complexity to our existing healthcare systems, even basic healthcare interactions and transactions are far from simple. For example, in the backdrop of a standard provider-patient appointment, there are dozens of discrete tasks that must take place before, during, and after the appointment to ensure that the patient receives the care they need. These tasks include paperwork processing; on-the-spot data entry; and follow-ups with specialists, to name a small handful. Unfortunately, the complexity of multiple stakeholders and varied processes creates a minefield of potential — and costly — mistakes. The US healthcare economy leaks an estimated $1–2 trillion annually in issues related to patient encounters. With physician burnout at an all-time high, the magnitude of physician-patient encounter mistakes could become even larger, negatively impacting patient care and the bottom line alike.