Quantia Inc., a Waltham company that designs software to improve collaboration between physicians, planned to announce Tuesday that it has raised $10 million to help market its latest service.
The financing round was led by the venture capital firm Safeguard Scientifics of Wayne, Pa., a new investor in the company. It contributed $7.5 million. Existing investors provided the rest, bringing the seven-year-old company’s fund-raising total to $39 million.
Quantia’s newly launched Web-based software allows hospitals and other health care providers to create private online communities where they can instruct doctors on practice strategies aimed at improving patient outcomes. The online tutorials are meant to be alternatives to traditional report cards, which tend to focus on a doctor’s shortcomings.
“Basically, what they’re saying is, ‘Here’s an example of how you’re not doing your job,’ ” said Quantia’s chief executive, Mike Coyne. “The way we would do it is to deliver educational material on something like colorectal screenings, for example. It’s, ‘Here’s a clinical vignette, presented by a peer, and here’s how it matters to you and why you should think about it.’ ”
Coyne added that after successful pilot tests, Quantia began to line up clients for the service, which uses the vast library of instructional materials already available on QuantiaMD, the company’s 180,000-member social network for physicians. On QuantiaMD, doctors post video presentations related to their areas of expertise and exchange treatment tips through discussion boards and private messages.
The network is a useful tool for enterprising doctors seeking guidance, but until now there has not been an easy way for hospitals to nudge physicians toward the tutorials they most need.
“We’ve spent a lot of time building up content that’s really related to what’s happening in health care — content around quality and readmissions and cultural competency,” Coyne said. “All the things that are really important, and all the things that health care systems are really trying to talk to doctors about.”