ReferWell is an enabler of value-based care, geared to meet the needs of hospitals, health systems, IPAs, ACOs, PCMHs and many more. It was founded by practicing physicians who were frustrated seeing patients return to the Emergency Room because of a manual and inefficient referral process. To address the problem, the company created a systematic process to help healthcare networks increase referral capture, enhance coordination of care, and improve profitability. ReferWell facilitates interoperability by sharing certain patient information across providers without EMR integration and by streamlining and improving the referral and scheduling process.
As a result of our thematic research into Patient Navigation, Network and Referral Management, Health Catalyst Capital led financings for ReferWell to expand a robust referral management platform. We were attracted by the adaptability to many use cases, i.e., situations in which ReferWell’s platform could potentially be used, the large addressable market, and the usability of the platform. Since our initial investment in 2016, ReferWell has demonstrated effectiveness in a number of use cases where connectivity and interoperability among disparate technology platforms are essential. New customer use cases since our initial investment include payors to support member care gap closures; providers interested in improving access to care such as federally qualified health centers (FQHCs); and providers interested in reducing network leakage such as Accountable Care Organizations (ACOs).