Our Investment in Memora Health
We believe in transforming the healthcare system from a “sick care” system into one that is proactive, accessible, and affordable. However, one vital component of that future state is a vibrant and unburdened provider workforce. The healthcare system is still contending with the aftermath of pandemic peaks, and a study revealed that provider burnout reached an all-time high at 63% last year. For many PCPs, the time attending to administrative care management, such as Electronic Health Record (EHR) systems, often surpasses patient care. Providers have seen a 157% increase in messages from patients since pre-pandemic levels. On the other side, patients have historically not received the level of experience and engagement that they expect in healthcare, particularly compared to other sectors like retail, entertainment, and finance. Yet, we see patient engagement as a critical element of care coordination—61% of patients hope for improved engagement. Patient engagement can enhance the quality of care, adherence to the treatment process, self-efficacy, and ultimately lead to Health Assurance for all. Care teams deserve the digital tools that empower them to serve their patients optimally while unburdening the most tedious administrative workflows.
Solving these pain points is the mission of Memora Health, an intelligent care enablement platform founded by two visionary leaders, Manav Sevak (CEO) and Kunaal Naik (CTO). General Catalyst is proud to partner with these technically-minded co-founders and lead Memora’s latest $30M strategic investment, as its mission deeply aligns with our Health Assurance vision. We are grateful to be on this journey with the Memora team as it builds its platform to proactively support patients and providers in complex care settings, resulting in what we think will be better health outcomes and a bent cost curve.
An Intelligent Care Journey
After an appointment or procedure, patients are often overwhelmed by the medical information relayed and may be unclear on the next steps in their care journey. The Memora team is reimagining and simplifying the care journey with an NLP-powered, two-way text SMS solution that sends follow-up messages to patients, simulating a live texting experience. On the back-end, Memora’s intelligent triaging technology analyzes the responses to engage care teams when necessary. In our view, this capability effectively enables care teams to deliver improved quality care by focusing only on the highest priority needs.
Platform image provided by Memora Health
This level of intelligence we believe has real time and cost savings for health systems, many of which are budget-constrained during these times—Memora has reported to reduce inbox messages by as much as 40%, resulting in up to 2.5 daily hours saved per FTE. To date, Memora has partnered with 70+ healthcare organizations, such as Mayo Clinic, Boston Medical Center, and Penn Medicine. As we see it, Memora is a bridge to truly coordinated care where communication was previously fragmented, and health outcomes thus suffered as a result.
The Future of Proactive, Equitable Healthcare
On a larger scale, Memora’s population health program is leveraging automation to create a more equitable healthcare system that seeks to address the Social Determinants of Health. Population health has been a long-term challenge, so as a response, Memora designed a Care Gap Closure Program that centers on a proactive, preventative approach. This program guides patients via education, screenings, appointment adherence, and drives health outcomes in otherwise vulnerable populations. We believe continued adoption of these programs will create a more equitable healthcare system.
General Catalyst is grateful to partner with Memora to empower the provider workforce that brings our Health Assurance vision to fruition.