You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Maker of software for online MD talks raises $10m more

Quantia’s chief executive Mike Coyne

Quantia’s chief executive Mike Coyne

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.

Continue reading below

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.”

Callum Borchers can be reached at Follow him on Twitter @callumborchers.
Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of