RALEIGH, NC & OKLAHOMA CITY – (COMMERCIAL LINE). . The funding round was led by Cortado Ventures, joined by the Wolfpack Investor Network and 30 practicing ophthalmologists in the United States.
Lumata Health currently serves thousands of patients with chronic eye disease through partnerships with ophthalmology clinics and health systems. Lumata Health’s intelligent eye care management platform incorporates clinical and psychosocial elements to enable patients to manage their chronic conditions throughout their care journey, particularly between visits with their ophthalmologist. Patients are connected with an experienced eye care coordinator who works with them to ensure adherence to their care plan through continuing education and addressing obstacles to care. Data shows that patients supported by the Lumata platform miss an average of 30% fewer clinic appointments.
“Our innovative, relationship-based approach to eye care management, which combines our data and technology with the skill and experience of our team of JCAHPO certified ophthalmic assistants and technicians, is moving the needle on the famous patient adherence challenge that puts tens of millions of adults at risk for severe vision loss. The right combination of data, technology and people ensures greater patient adherence, satisfaction and clinical outcomes, while also addressing the staff shortage that continues to plague ophthalmology clinics, “said Landon Grace, CEO and co-founder of Lumata Health. . “We are able to anticipate and prepare for obstacles and address issues from organizing transportation and coordinating drug refills, to dealing with the anxiety triggered by ongoing injections and keeping patients in line with their treatment. a huge help for these patients as well as for the staff in the office and for the doctors ”.
Over 90% of vision loss caused by chronic conditions including diabetic retinopathy, macular degeneration, glaucoma, and dry eye is preventable, but these conditions remain the leading causes of blindness in the United States and abroad, largely due to poor adherence to recommended care. The CDC estimates that 93 million adults in the United States are at high risk for severe vision loss.
Funding from the Series A round will be used to advance Lumata’s pioneering approach through new enhancements to its platform, including the development of further predictive analytics and the incorporation of automated patient communication pathways to fuel business growth. . Driven by customer demand, Lumata is also using its platform to offer pre-visit care, pre-clearance assistance, and preoperative cataract education. The startup previously received more than $ 2 million in research funding through the National Eye Institute.
“Lumata Health offers outsized value in the eye care market that has been long overdue. Now is the right time, with the right state-of-the-art machine learning technology and the right team of eye care professionals who understand the patient journey. As our goal at Cortado Ventures is to support and drive innovation to deliver real solutions to today’s problems, we believe Lumata will break down barriers and reduce thousands of heartbreaking preventable cases of blindness each year, “said Nathaniel Harding, Managing Partner of Cortado Ventures. “We are proud to invest in the company’s vision of preserving sight for all and are confident that this team will be able to deliver results.”
The costs of eye care for Lumata Health’s service are reimbursed by most taxpayers, including Medicare, and often fully reimbursed for patients with supplemental insurance.
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About Lumata Salute
Lumata Health is a technology-based healthcare start-up focused on preventing blindness from chronic eye disease, managing thousands of people at risk for vision loss in the United States. Founded in 2017 by ophthalmologist and specialist in retina in practice for over 30 years, Stephen R. Fransen, MD, and supported by over 30 industry luminaries and influencers on its advisory board, Lumata Health aims to stop preventable blindness with guidance. human, intelligent platform for coordination and management of care almost always free for the patient. The company works with doctors, payers and health systems to offer turnkey care management services delivered by eye care experts backed by cutting-edge technology and data science. Lumata Health programs improve clinical outcomes, patient satisfaction and clinical staff efficiency by providing assistance and coordination between visits to patients with chronic eye diseases such as diabetic retinopathy, macular degeneration, glaucoma and dry eye .