Docent Health Pulls In $15M Series A Round
BOSTON, MA, Docent Health announced today that the company received investment capital from three prominent venture capital firms deeply committed to cultivating consumerism in healthcare.
The $15 million Series A round, co-led by Bessemer Venture Partners, New Enterprise Associates (NEA) and Maverick Ventures, will help Docent Health transform the way health systems engage with customers. Docent Health's offering combines advanced analytics with workflow automation to orchestrate carefully curated 'experience journeys' that integrate digital and human interactions.
'Health systems often do an amazing job of providing data-driven clinical care, but they don't take the same systematic approach when it comes to the human experience of healthcare,' said Paul Roscoe, Docent Health's CEO. 'Changes in the healthcare industry have triggered a fierce battle for the hearts and minds of healthcare customers. Health systems are quickly realizing that if they want to succeed in this era of consumerism, they need to learn from other consumer-centric industries, and get much more sophisticated about making customers feel known, heard and valued. This is the pivotal change happening in healthcare right now, and Docent Health is at its epicenter.'
Docent Health's approach to transforming experience considers a customer's preferences and unique needs, and delivers a set of supportive services that mirror the clinical path. The company's technology platform creates personalized service journeys that are implemented via a combination of digital and human interactions, while simultaneously gathering data and measuring results to identify the most impactful events. The company employs specially trained staff to interact with customers throughout the course of their care. These 'Docents' are empowered to diverge from the prescribed course to better meet individual needs, bringing valuable new data points into the cycle of continuous improvement.
'The consumer experience in healthcare remains a top issue for health system leaders today, and Docent's early traction suggests that the company is providing the most comprehensive solution on the market,' said Stephen Kraus, partner, Bessemer Venture Partners. 'We are confident that under Paul's leadership Docent will become the clear leader in this burgeoning sector within healthcare.'
'As patients behave more like consumers, it's evident that an emphasis on meeting their needs in very new and different ways will be essential for health systems to adapt,' said Mohamad Makhzoumi, partner and head of digital health at New Enterprise Associates (NEA). 'Because of this shift in patient behavior, companies like Docent Health are poised for success, especially as healthcare organizations transition to consumer-focused models of care delivery.'
'We're very excited to continue our involvement with Docent Health in this round,' said Ambar Bhattacharyya, managing director, Maverick Ventures. 'We believe that healthcare's customer experience process is broken and primed for disruption, and we anticipate Docent Health quickly setting the new standard for customer experience across the continuum of care.'
'Optimizing the patient experience remains a top priority for leading healthcare institutions,' said Louis A. Shapiro, president and CEO of Hospital for Special Surgery (HSS). 'We are proud to have partnered with Docent Health to co-develop this technology platform at HSS.'
'We are thrilled to see Paul and Docent demonstrating such incredible success tackling this important and complex challenge,' said Trevor Price, founder and CEO, Oxeon Holdings, where Docent Health was incubated. 'Through the 30,000 healthcare conversations we have annually at Oxeon, we saw that consumer experience was actually a bigger issue facing healthcare than the shift to value-based care. Paul and the Docent team have put themselves in the right place at the right time and we are so enthusiastic about the team, organization and overall progress.'
About Docent Health
Docent Health is a venture-backed healthcare experience technology and services company focused on helping healthcare organizations transform to embrace a truly consumer-centric approach to healthcare. The company's platform and services combine digital and human interactions to guide customers on journeys tailored to their specific needs and preferences. By utilizing Docent Health's platform, health systems can provide personalized, empathic experiences that support clinical care. For more information, visit www.docenthealth.com.
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