Written by Dedi Giladi
Eleven years ago, I helped found TytoCare because I knew that traditional telehealth, despite all of the promise, despite all the hype, was a weak imitation of a real doctor’s visit. Traditional telehealth simply didn’t fulfill the needs of my family — and usually resulted in us having to go into a doctor’s office anyways.
I know that’s an experience that too many people share, and it has big consequences for the healthcare industry as a whole. When people do not trust traditional telehealth solutions, they don’t use them. Ultimately, that means these “solutions” aren’t generating ROI, aren’t improving outcomes, and there is real value being missed.
We set out to launch the Home Smart Clinic to change that expectation.
With the Home Smart Clinic, we are witnessing that change every day. The Home Smart Clinic is an all-in-one solution that families can use to replicate a doctor’s visit at home — and it’s FDA-cleared to perform heart exams, lung exams, throat, ear, and body temperature helped restore confidence in health care at home.
The Home Smart Clinic has started a profound shift in where and how care gets delivered, and today, we’re excited to announce a new step for TytoCare. We have raised $49 million in additional growth funding. In total, this means that our latest extension brings TytoCare’s funding to $205 million to date.
We’re incredibly grateful for our funding partners, who believe in our mission and see our momentum. Led by Insight Partners, other major investors in this round include strategic partner MemorialCare and two large pension funds, HOOPP and Clal.
With this excellent round of funding, I know that many might be wondering “what’s next” for TytoCare? There is so much more to come — but I can promise you that this funding is going to power exciting projects at the heart of the next generation of virtual healthcare.
To start: we’re expanding our support for longitudinal conditions and healthcare needs. Going back to our key focus – helping families access excellent healthcare from home – we know that there are gaps in how this currently works. Families around the world are struggling with the need to go into clinics for checkups for longitudinal care that could be managed remotely with better virtual care – asthma, COPD, post-discharge, and more. Managing these remotely will give people better access to care and to clinicians, and improve healthcare results with more regular and hands-on checkups.
As the first step in this expansion, we are releasing TytoHome for Asthma. Asthma-related issues lead to 439,000 hospitalizations, as well as 1.7 million emergency department (ED) visits per year in the United States alone. That translates into 13.8 million missed school days and costs the American healthcare system more than $50 billion per year. Building on this year’s FDA clearance for AI-powered Tyto Insights™ for Wheeze Detection, our TytoHome for Asthma program is an additional layer of the Home Smart Clinic and will support individuals with asthma with ongoing condition management. This means that when someone experiences an asthma attack, they can immediately use a remote physical exam to assess their condition and receive an urgent consultation with a doctor. Those managing their condition can engage in routine care and stay on top of their condition with self-management tools, including questionnaires, reminders, and medication adherence.
This is just the start of longitudinal care to come from TytoCare. Our new funding will help us expand and deepen our offerings both in the places we already serve and across new markets. We’re also going to keep proving our value too. One example includes a new, peer-reviewed study in the Journal of Health Economics, that found that TytoCare reduced the total cost of care by 7% in a large commercial health plan.
As we continue our work — I’m grateful for the support of the incredible teams, partners, and funders that have continued to make TytoCare great… and we’re looking forward to all that comes next.