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DocuTAP, a Sioux Falls, South Dakota-based provider of an integrated EMR and practice management technology for urgent care providers, today announced, has raised $12 million in new funding. Bluff Point Associates provided the funding, designed to bolster business development and sales. Bluff Point Associates is a private equity firm based in Westport, Connecticut.
Eric McDonald, Founder and CEO of DocuTAP, a national leader of an integrated EMR and practice management solution designed exclusively for urgent care providers, today announced that it has received a two-stage $12 million strategic investment from Bluff Point Associates. This financing will secure business development resources to accelerate sales and further strengthen DocuTAP’s leadership position in the marketplace.
“DocuTAP has built a distinctive platform designed specifically for the urgent care setting, improving the overall patient and physician experiences,” said Kevin Fahey, Managing Director at Bluff Point Associates. “DocuTAP’s solution replaces cumbersome EMRs and manual scanning processes, which are not suited for the urgent care business model. Many urgent care centers are forced to operate on platforms designed for primary and specialty care settings without regard for the unique concerns that a fast-paced urgent care clinic demands.”
As urgent care best practices continue to mature, dependence on generic EMRs and manual processes proves costly. In contrast, DocuTAP provides an easy-to-use and reliable platform that is fast becoming the standard urgent care owners rely on daily. It eliminates hard costs and improves on the number of patients that can be seen by integrating customized templates and automating valuable analytics.
Optimizing patient door-to-door time, physician efficiency, and accurate billing are essential to running a healthy urgent care business, particularly as the market grows more competitive. Patient relationships begin with online appointment management, are maintained through back office processes for ordering additional services, and continue on through automated billing, insurance submission, and collections.
The Urgent Care Centers industry represents one of the fastest-growing segments of the American healthcare system. In the five years leading up to 2012, industry revenue grew at an average annualized rate of 6.3% to an estimated $13.7 billion, including projected growth of 5.2% in 2012. Urgent care centers provide primary care as well as supplementary services, such as X-rays and low-level trauma treatment, to patients on a walk-in basis. With rising wait times for both primary and emergency care providers, urgent care centers have been an increasingly appealing and viable alternative for patients, says IBISWorld industry analyst Caitlin Moldvay.
“We focus on providing urgent care owners, physicians, office staff and patients a total solution that dramatically improves the experience for everyone involved,” said McDonald. “We listen very closely to the challenges our clinics face and bake that into our daily desire to improve their unique care environment. DocuTAP’s explosive growth is happening because we work very hard to aid in our clients’ success, and our passion is to continue to improve.”
DocuTAP provides urgent care practices with an innovative approach to workflow management. Its flagship product, DocuTAP’s EMR and Practice Management software, fully integrates practice management and electronic medical records capabilities in one complete system. DocuTAP software features automated and customizable tools that enhance healthcare providers’ ability to deliver and manage patient care. Our experienced, knowledgeable staff is committed to improving the delivery of high-quality healthcare. For more information, call (877) 697-4696 or visit www.docutap.com.
About Bluff Point Associates
Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential.