$6 million has been raised by LogicStream System in a new round of funding supervised by Noro-Moseley Partners. Few existing investors also contributed.
The company is in the increasing space of Clinical Process Improvement. The company positions itself as dealing inherent issued with electronic health records (EHRs) by assisting hospitals to track more particular outcomes measures and policy compliance so that hospitals can make the best possible use of their information, and finally improve patient outcomes and save money.
Spence McClelland, a partner at Noro-Moseley, claimed in a statement, “Health systems have made huge investments in electronic medical records and data warehouses over the last decade, but are yet searching to unlock the value of that data. Solutions of LogicStream permit them to optimize and identify a return on their largest IT investment, the EHR. We verified all the solutions in the emerging Clinical Process Improvement market and recognized LogicStream as the clear leader.”
New funds will be poured by the LogicStream into product development as well as expanding sales and marketing teams to meet what the company says is a rising demand for the software.
LogicStream Health CEO Patrick Yoder stated in a statement, “We’re seeing rapid growth in the market demand for robust Clinical Process Improvement solutions, as evidenced by various recent new customers. As health systems come to understand the requirement for self-service access to the critical process information required to improve quality and clinical outcomes, they identify the significance of our solutions. Leveraging this new capital and Noro-Moseley Partners’ experience in healthcare IT, we can increase our growth to meet this market demand and build out our vision for true Clinical Process Improvement.”