Our Most Recent Investment: Where Two Road(map)s Intersect

“Best of Breed SaaS”

My partner Byron Deeter recently wrote a blog about the rise of best of breed SaaS applications that have used the power of the cloud (with its open, flexible SOA-based application architecture) to overcome, compete, and even integrate with incumbent, monolithic single suite software vendors (think: Oracle and SAP).   In his blog, Byron wrote:

“Never before has the case for best of breed applications been more compelling. Cloud computing has made it financially and operationally viable for a company to pick the world’s best application for every need, every user, and every business case.  Companies no longer have to sacrifice functionality for the sake of integration. You can have your cake and eat it too.”

“Best of breed” software can now be built to improve functional areas of a business (e.g., marketing, recruiting, financial reporting) or to the customized needs of a particular industry vertical (e.g., car dealerships, health and wellness, urgent care).  In either case, we at BVP have seen the power of nailing a particular “best of breed” use case through our investments in Eloqua, Cornerstone on Demand, Intaact, Xtime, Mindbody, and now DocuTAP.

And while the healthcare industry is often slower to adopt new technologies than other sectors in which we invest, we believe “best of breed” SaaS is finally coming to a doctor’s office, a hospital, and definitely an urgent care center near you!  It’s been a long time coming; for years, healthcare CIOs and business users have been limited to working with the industry’s own version of “monolithic single suite software vendors”.  I am not knocking the likes of Epic, Allscripts, and Cerner, but these EHR and PM systems were developed decades ago to serve the broad needs of hospitals; and, without a doubt, they generally serve the business needs, workflow and use cases of their health system clients well.  

But what about the hospice nurse? The home health aid?  The skilled nursing facility administrator? The physical therapist? The urgent care center owner?

Who has built software tailored to their needs?

The correct answers are: HomecareHomebase, Kinnser, PointClickCare, WebPT, and DocuTAP.

“Best of breed” SaaS has finally come to healthcare!

 

Sioux Falls, South Dakota: Where Two BVP Roadmaps Converge . . .

And the home of our most recent investment in DocuTAP, the leading provider of an integrated EHR (electronic health records) and practice management technology for urgent care providers.

“All we do is urgent care. Period.” . . . This is DocuTAP’s claim to fame and a direct quote from their website.  To see a quick video on DocuTAP, see http://www.youtube.com/watch?v=AIiAqDkxd0Y

For the first time the urgent care market – which is comprised of more than 9,000 centers and is growing at an impressive clip – finally has a SaaS product that is tailored to fit its needs. The DocuTAP product and business model is completely aligned with the needs, work flow, and use cases of urgent care center operators and clinicians, including:
  • Product features and functionality developed for urgent care
  • Visit-based pricing aligned to urgent care business objectives of patient throughput and satisfaction
  • Designed for tablet use as urgent care doctors are mobile
  • A management team that “eats, sleeps, and breaths” urgent care

Considering a significant number of new DocuTAP customers were previously using pen and paper to handle record and management, this IT platform is an enormous boon to their business. DocuTAP is the urgent care industry’s best of breed software solution.  And this is why we are excited to be working with founder and CEO Eric McDonald and his team.

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