Grand Rapids, Mich., Feb. 27, 2020 – eVideon, a leader in interactive patient engagement and digital workflow solutions, today announced funding from Spectrum Health Ventures LLC, the venture capital arm of Spectrum Health, a Grand Rapids-based, not-for-profit, integrated health system. This funding builds on the two organizations’ 10-year relationship, highlighting the great success Spectrum Health has seen with the deployment of eVideon’s patient engagement and clinician and staff workflow solutions. This funding will support eVideon’s efforts in expanding its market share and cultivating innovative, customer-driven products that improve the patient experience and provider efficiency.
The decision to expand the two organizations’ existing relationship emphasizes their collaborative dynamic and shared focus on solutions that have the potential to impact healthcare’s Quadruple Aim. With Spectrum Health Ventures’ investment, eVideon is poised to accelerate market adoption and help health systems achieve better care transitions, higher satisfaction scores, and streamline workflows and efficiency for hospital staff.
“We are proud to expand our trusted partnership with eVideon by making this strategic investment,” said Scott McLean, managing director at Spectrum Health Ventures. “This decision emphasizes our ongoing commitment to driving growth and providing value for companies that have the potential to change the future of healthcare.”
This funding comes at a pivotal time for eVideon, having recently announced their suite of Smart Room products, which builds on the company’s longstanding interactive patient TV platform. A response to the growing focus on successfully engaging patients in their healthcare journey and the global interest in connected devices, the platform simplifies patient engagement and care management with support for patient personal devices. This allows patients to connect with the eVideon system on their device, transforming their mobile device into an engagement tool for personalizing the patient experience, goal setting, and real-time surveys. This technology is complemented by additional Smart Room capabilities which include:
- A Companion Tablet featuring a digital display mounted bedside on an articulating arm, allowing the device to continuously charge, while preventing loss or damage.
- Digital Patient Door Displays that are located outside patient rooms and show patient precautions (NPO, fall risk, etc.), and outstanding service requests, among other pertinent patient-related information.
- A Digital Whiteboard replacing the need for a traditional patient dry erase board. This feature fully integrates with real-time EHR data and can be embedded within the Companion Tablet or a wall display.
“This funding will significantly impact our ability to innovate and serve our hospital partners with cutting edge technology like the Smart Room,” said Jeff Fallon, CEO of eVideon. “Beyond its investment, representation from Spectrum Health Ventures will also be joining our Advisory Board and Board of Directors. With their invaluable insights we will be able to more meaningfully evolve our offerings and continue to address the needs of patients and providers alike.”
eVideon will be available to discuss the suite of Smart Room products and the expanded partnership at HIMSS next month, March 9-13 in Orlando, Florida. For a tour of the patient Smart Room please book time at the eVideon booth (#1479) here. To schedule a meeting with an eVideon executive, please contact Claire Pfarr at firstname.lastname@example.org.
About Spectrum Health
Spectrum Health System, a not-for-profit, integrated health system, is committed to improving the health and wellness of our communities. They live their mission everyday with 31,000 compassionate professionals, 4,500 medical staff experts, 3,300 committed volunteers and a health plan serving 1 million members. Their talented physicians and caregivers are privileged to offer a full continuum of care and wellness services to our communities through 14 hospitals, including Helen DeVos Children’s Hospital, 155 ambulatory sites and telehealth offerings. They pursue health care solutions for today and tomorrow that diversify their offerings. Locally-governed and based in Grand Rapids, Michigan, the health system provided $585 million in community benefit in fiscal year 2019. Thanks to the generosity of their communities, they received $30 million in philanthropy in the most recent fiscal year to support research, academics, innovation and clinical care. Spectrum Health has been recognized as one of the nation’s 15 Top Health Systems by Truven Health Analytics®, part of IBM Watson HealthTM.
About Spectrum Health Ventures
Spectrum Health Ventures, the venture capital arm of Spectrum Health, an integrated health system based in Grand Rapids, was founded in 2017 to manage a $100 million allocation of capital. Spectrum Health Ventures focuses on solutions that align to the Quadruple Aim of simultaneously improving the health of the population, enhancing the patient and consumer experience, improving the physician and provider experience, and reducing the per capita cost of care for the benefit of the communities Spectrum Health serves. From startups to more experienced companies, it offers investment capital joined with an integrated health system and health plan expertise to entrepreneurs and companies that strategically align with Spectrum Health’s goals.
eVideon provides patient experience and engagement solutions for hospitals via a suite of bedside engagement systems, TV, digital signage, and other interactive displays. Patients enjoy the convenience of self-service at the bedside with access to entertainment, education, hospital services, and more while staff enjoy streamlined, paperless workflows. Interactive surveys and patient feedback help patients communicate needs and help hospitals respond before dissatisfiers turn into HCAHPS issues. The platform leverages integrations with the hospital’s EHR, along with other technologies to provide a streamlined, digital patient experience. Data analytics provide valuable insights into patient behaviors and pain points, letting hospitals improve service and outcomes. Learn more at www.evideon.com.