The human arsenal is capable enough to accommodate many valuable elements, but if we are being honest, there is nothing more valuable in it than our tendency to grow on a consistent basis. This tendency has already allowed us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology has, right from the get-go, enjoyed such an esteemed stature among people is largely down to its skill-set, which realized all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look will reveal how the whole runner was also very much predicated upon the way we applied those skills across a real-world setting. The latter component was, in fact, what gave the creation a spectrum-wide presence, including a timely appearance on our healthcare block. Technology’s foray into healthcare was so well-timed, as it came right when the sector was beginning to struggle against its own obsolete structure. This reality, fortunately enough, went through a complete overhaul under the new regime, but even after such a monumental feat, the new and budding medtech concept will somehow continue to produce all the right goods. The same has only turned more evident over the recent past, and a new piece of funding should a lot to keep that trend alive and kicking.
RightMove, a startup spun out of Hospital for Special Surgery, has successfully secured over $21 million in Series A financing. The round, which was led by Flare Capital and HSS, is expected to fund the company’s bid to provide dedicated musculoskeletal care. Talk about why HSS would embark upon a journey of this sort, the answer resides within the organization’s growing financial burden that is largely caused by the stated treatment. You see, yearly expenditures for musculoskeletal care in the U.S. total more than a whopping $380 billion. This is pretty much why HSS’ rationale of separating such operations from the rest makes sense from both financial, as well as wider efficiency standpoint.
“There’s just an enormous amount of waste in the musculoskeletal care space,” said Amy Fahrenkopf, senior vice president and interim CEO of RightMove. “And a lot of that comes from patients not knowing where to go or having unnecessary tests, injections and surgeries.”
As for RightMove’s granular focus, the startup will focus on two main services in virtual triage and nonsurgical physical therapy. The virtual triaging will allow patients to receive a 45-minute assessment from a HSS-trained physical therapist. These assessments can be, notably enough, booked throughout the country on-demand within 24 hours. Coming to the nonsurgical physical therapy, it is expected to be delivered through the telehealth medium. Given how you can treat more than 95 musculoskeletal conditions without having to consult a physician, RightMove will look to leverage that option to provide relief in cases of lower back pain, carpal tunnel syndrome, and more.
“There’s a lot of companies that use the word virtual, but it means different things to different people. A lot of the virtual offerings out there are very much focused on animated or video physical therapy, and they require patients to use sensors and be very self-motivated,” said Fahrenkopf. “Ours is truly telehealth — ours is using very highly trained physical therapists. HSS has some of the highest trained physical therapists in the country, and they will be training the physical therapists that we hire.”
Slated to go live before the end of 2023, RightMove’s idea for commercialization will be mainly centered upon selling its platform to health plans and employers.
