Digital health giants Grand Rounds and Doctor On Demand have merged to create one of med-tech’s most comprehensive offerings, launching a new virtual care integration they say will address the complexities and lack of coordination in the U.S. healthcare system.
The combined company will pair Grand Rounds’ data-driven navigation platform, which helps patients and caregivers navigate the increasingly byzantine healthcare system, with Doctor on Demand’s virtual health platform that links patients with doctors. Grand Rounds CEO Owen Tripp will serve as the organization’s CEO. A spokesperson said that Grand Rounds and Doctor on Demand “will continue to operate under their existing names for the time being. As of now, there is no new name.”
According to Grand Rounds director of corporate marketing Jenn Davis, the merged company will “deliver a truly unique, patient-centered solution to overcome many of the hurdles that have led to suboptimal care today. The integrated platform will help close the healthcare feedback loop, ensuring members are supported by a connected care team that addresses administrative, financial and clinical needs.”
The merger comes as interest in virtual care has skyrocketed during the COVID-19 pandemic. Both companies report increased usage of their platforms since March 2020.
The company hopes to address the scourge of disorganized care for U.S. patients. Because of the fragmented nature of the healthcare system, patients often struggle to find the right provider for their specific health issues, or have problems figuring out what is covered by their insurance. Similarly, the company aims to address the $300 billion of waste in the healthcare system that results from a lack of coordination.
“This merger will allow employers and payers to curb healthcare spending waste,” Davis continued. “Patients deserve a far more effective healthcare experience and the new company will provide a seamless array of digital and interactive health tools that can offer longitudinal relationships and integrated medical and behavioral healthcare all in one.”
While COVID-19 acted as a catalyst for telehealth usage, it has also established a new baseline for virtual care in the years ahead, Davis added. “Over the next ten years, we expect that most patient engagements with medical teams will be online. The healthcare system in the U.S. needs our combined approach, which is all about building the next generation of virtual care and not optimizing legacy solutions.”