What you should know:
– Wheel, a white label supplier based in Austin, TX virtual attention services and support announced a $ 150 million round of C-Series funding, co-led by Lightspeed Venture Partners i Global Tiger, bringing its total funding to $ 216 million so far. The round was also attended by new investors Coatue i Salesforce Ventures along with existing investors CRV, Tusk Venture Partners i Silverton partners.
Everything companies and doctors need to deliver virtual care anytime, anywhere
Since its launch in 2018, Wheel has become the digital health behind the scenes, silently supporting the virtual care operations of many of the most important names in health and wellness. This growth exploded last year and is about to explode even further this year, with Wheel beginning to support the next wave of healthcare innovators. Despite some people’s misunderstandings about the future market for virtual care, Wheel’s massive funding round, along with the commercial interest of this new group of companies, shows that the care services market Trusted and high quality virtual is still very hot.
As the entire healthcare industry strives to care for patients online, Wheel has invested in an omnichannel solution that helps companies create personalized care trips for their patients. By creating care journeys around patients and their care needs (also known as virtual primary care), patients can easily access care from anywhere, anytime. When companies build on the Wheel platform, the underlying infrastructure and technology:
– Choose the patient’s care needs and determine the best care environment
– Relate the patient to the best doctor for their care needs in more than a dozen attributes
– Facilitates any necessary follow-up care
Recent Traction / Milestones
Not only did Wheel drive more than 1.3 million patient visits last year, but the company also expects a threefold increase this year. Wheel’s vast network of physicians, which grew 60% year-on-year, and the virtual care platform’s infrastructure allows companies to do in weeks what it takes more than 15 months to build. For doctors, Wheel also offers a new and better way to work, at a time when doctor stress and exhaustion are at epic levels. The company has a 90% retention rate for its doctors.
Wheel will use the funding to further invest in its platform and expand its white-label diagnostic services, enabling companies to integrate direct-to-consumer laboratory testing and diagnostic follow-up care. The company also plans to double its number of employees, continue to grow its network of physicians, invest in its clinical platform and expand its clinical incorporation and continuing education programs. Additional business milestones include:
– Omnichannel approach: It launched a white-label virtual care platform that supports asynchronous chat, scheduled and on-demand video visits, remote patient monitoring, physician supervision for labs, and follow-up care.
– Comprehensive care: Integration of virtual primary care, behavioral health, urgent care and diagnosis in a single solution. Wheel also launched networks of physicians for behavioral health and triage care last year.
– The best patient care: Extended clinical incorporation program with dedicated resources and 24-hour assistance. Wheel’s network of physicians maintained a clinical quality score of 99.9%.
– 24/7 attention: Nationwide coverage has been expanded, while industry response rates have remained low at an average of two and a half minutes for asynchronous visits and 90 seconds for on-demand synchronous visits.
– White glove service: The customer portfolio has grown by 100% year-on-year, while major accounts grew by 350%. Wheel customers today include digital healthcare companies, clinical lab networks, retailers, traditional healthcare providers and technology companies.
“Telehealth 1.0 brought online healthcare visits, but companies are still struggling to meet the care needs of their patients,” said Michelle Davey, CEO and co-founder of Wheel. We recognized that in order to advance the healthcare industry and truly fulfill the promise of virtual care first, we need both the infrastructure and the manpower that can deliver care “anytime, anywhere.” We are excited to continue to lead. the charge and making personalized attention a reality “.