Dr. Steven Buslovich has long believed that an integrated software solution can help everyone involved in nursing home care.
Nearly eight years after Patient Pattern was founded, Buslovich believes he’s unlocked the model that will lead to widespread adoption across the U.S.
Revenue for Patient Pattern was up 300% last year and the company has expanded to 10 employees and raised about $1.2 million in seed funding this year. Local investors include Launch NY and the Buffalo Angels. The company is actively looking for talent, as well.
The key? A shifted emphasis toward selling into the insurance marketplace. Patient Pattern scored its first major Medicare Advantage customer in the fall; now it has five of them.
The company announced this month that its Care Coach software platform has been chosen by CenterLight, the state’s largest PACE (Program of All-Inclusive Care for the Elderly) program.
The sum of all this, according to Buslovich, is that Patient Pattern is gaining widespread adoption as a software partner that helps nursing home operators more responsively and accurately care for their patients.
It comes at a time when the industry has been battered by the Covid-19 pandemic and is looking for the kind of tools that Patient Pattern provides. The ‘heads in beds’ hotel model is being replaced by companies that also want to oversee the clinical care.
“They are very keen to try and understand this,” Buslovich said. “We’ve created a scalable way to manage this population and these plans, and we’re looking to grow and expand.”
Patient Pattern also has the opportunity to build ancillary tools such as pharmacy management, and to expand further into Medicare Advantage plans.
It’s a long way from the beginning of the Covid crisis, when Buslovich was the geriatrician responsible for numerous local nursing homes. Now he's preparing to launch a new round of funding to support the company’s growth.
“We put all of this together in an ecosystem that will drive the best possible outcomes in a way that is quite unique,” Buslovich said. “We plan to further develop that and continue growing our team and expanding into the market.”
Patient Pattern is the 15th local startup to acknowledge growth-oriented funding this year. The others include Tackle.io ($35 million), Jerry ($28 million), Torch Labs ($25 million), Circuit Clinical ($7.5 million), SomaDetect ($6 million), Kickfurther ($5.9 million), HELIXintel ($1.6 million), Ellicottville Greens ($1 million), Ognomy ($700,000), Braid Babes ($415,000), MemoryFox ($380,000) and Zizo Technologies ($200,000) and Thimble.io ($125,000).
