M12 - Microsoft's Venture Fund
By Priyanka Mitra, M12
I am very excited to welcome Andor Health, a company that harnesses machine and human intelligence to change the way care teams connect and collaborate with patients, to the M12 portfolio as their sole Series A investor.
The global pandemic has forced an important focus on the healthcare industry and the infrastructure that supports it. While COVID-19 has introduced new complexity to our existing healthcare systems, even basic healthcare interactions and transactions are far from simple. For example, in the backdrop of a standard provider-patient appointment, there are dozens of discrete tasks that must take place before, during, and after the appointment to ensure that the patient receives the care they need. These tasks include paperwork processing; on-the-spot data entry; and follow-ups with specialists, to name a small handful. Unfortunately, the complexity of multiple stakeholders and varied processes creates a minefield of potential — and costly — mistakes. The US healthcare economy leaks an estimated $1–2 trillion annually in issues related to patient encounters. With physician burnout at an all-time high, the magnitude of physician-patient encounter mistakes could become even larger, negatively impacting patient care and the bottom line alike.
Andor Health is taking this challenge head-on with a software solution designed to solve several of the costly, systemic problems surrounding patient-physician appointments. Unlike several other digital health platforms that tackle a discrete element of end-to-end workflow, Andor considers the holistic experience of physician-patient encounters and the relevant, required IT tasks. Their end-to-end clinical care orchestration provides digitization, automation, and integration infrastructure to streamline the tasks that occur before, during, and after a patient encounter. Andor Health’s software gives physicians more time to meaningfully focus on patient care and enables collaboration and communication between care teams.
The team behind this solution is truly world class. Prior to founding Andor Health in 2018, CEO Raj Toleti spent 20+ years as a healthcare IT entrepreneur. He and his executive team have collectively spent over six decades thinking deeply about the healthcare IT challenges that inhibit the patient journey, and boast successful exits of patient engagement, registration, and medical payments companies. Andor Health’s founding team intimately understands healthcare IT workflow and are innovating against the technical challenges to realize the ideal physician and patient experience.
Customers of Andor Health’s solution are already seeing meaningful ROI — patients are missing fewer virtual visits thanks to the virtual visit/virtual health alert system, and physicians are saving time on clicking through screens and reviewing charts during their patient visits with the help of the Andor platform, allowing for more present and empathetic conversations.
I’m passionate about the cause of reducing physician burnout and improving the patient experience, and I’m inspired by Andor Health’s work in service of this cause to date; I’m excited to take on a Board Director position with the company. Congratulations to Andor Health on this fundraise, and welcome to the M12 portfolio! We look forward to your continued growth.