ConsumerMedical Acquires Virtual Second Opinion Innovator InfiniteMD

Combined company streamlines virtual access to second opinions from the world’s top physicians for better medical decision-making

BOSTON – (BUSINESS WIRE) — August 25, 2020 Highlighting the healthcare market’s rapid pivot towards virtual care, leading clinical advocacy and decision-support company ConsumerMedical has acquired InfiniteMD (IMD).  InfiniteMD is a technology-leading virtual Expert Medical Opinion (EMO) firm recognized for its innovative platform and network of elite providers and specialists. 

 “This acquisition streamlines the delivery of critical, expert medical guidance that will give our participants facing serious and complex illnesses a more convenient, tech-enabled, and virtual experience,” said David Hines, CEO and Founder of ConsumerMedical. “As our two organizations have worked together for the past two years, InfiniteMD has played a key role in meeting the growing demand by our employer and health plan clients to deliver the highest quality, most impactful, virtual support. Through this acquisition, we are setting a new standard for virtual EMO and clinical advocacy with a global high-tech, high-touch offering designed to help people anywhere in the world when they need expert medical guidance the most.”

“InfiniteMD and ConsumerMedical have forged a successful partnership around innovation, enabling both domestic and global market expansion,” said Babak Movassaghi, PhD, MBA, CEO and Co-Founder of InfiniteMD.  “The mission of InfiniteMD has always been to use technology to democratize access to the top physician specialists. Moving forward as one company, we will accelerate the technology roadmap and develop more innovative solutions to address patients with complex health issues and power our expansion efforts both within and outside of the United States.”

InfiniteMD was founded by Harvard physicians and MIT engineers with a mission to empower patients by enabling access to the best minds in medicine for guidance on serious and complex conditions. The platform is utilized by top hospital delivery networks and has processed thousands of cases in 40+ countries. They offer access to 2,400 of the top physicians in the U.S. from institutions like Harvard Medical School-affiliated hospitals and other clinical Centers of Excellence ranking within the Top 20 Hospitals, according to U.S. News and World Report. Their proprietary platform facilitates true 360-degree multidisciplinary collaboration amongst these physicians as a case moves from intake and summarization, to review and rendering of a final virtual opinion via written report or video. Participants and their families have the option to interact with physicians over live video, team-based multidisciplinary video, and asynchronous video— the most modalities available for these services in the industry.

“We launched InfiniteMD with the premise of building the best technology-enabled expert opinion service, said Christopher Lee, MSE, PhD, COO and Co-Founder of InfiniteMD. “Over the past few years, we have refined the InfiniteMD platform, established formal partnerships with the nation’s leading medical centers, and optimized the most user-friendly experience for both patients and expert physicians. By joining forces, we’re creating the strongest and most comprehensive offering in the delivery of decision-support via digital health.”

The terms of the transaction were not disclosed.

About ConsumerMedical 
ConsumerMedical is a leading clinical advocacy, decision support and expert second opinion company serving over four million individuals through some of the nation’s largest employers, health plans and private exchanges. The company has been serving patients and payers for more than 24 years. As a Medical Ally, ConsumerMedical guides participants throughout their healthcare journey with compassionate, high-touch support and deep clinical expertise. ConsumerMedical offers a fully integrated suite of solutions including Medical Decision Support®, Surgery Decision Support®, Expert Medical Opinion, Claims Advocacy and more, helping individuals and families navigate the healthcare system while improving outcomes and reducing costs. ConsumerMedical’s results have been validated continuously by independent actuaries. www.ConsumerMedical.com

About InfiniteMD

InfiniteMD is a virtual expert opinion leader that provides consumers from around the world direct access to the best physicians in the United States via remote video and written consultations using its proprietary platform. Headquartered in Boston, Massachusetts, InfiniteMD works with physicians from institutions like Harvard Medical School-affiliated hospitals and other clinical centers of excellence that rank within the Top 20 Hospitals, per U.S. News and World Report. A cornerstone of InfiniteMD’s service is support for global consumers, which includes the international collection and translation of medical records, as well as providing medically trained interpreters during video consultations. www.InfiniteMD.com

InfiniteMD Launches Virtual Center of Excellence Programs to Enhance Longitudinal Access to the Leading Expert Multidisciplinary Teams of Specialists in U.S.

New solution combines ongoing engagement with top specialty medicine teams and personalized, holistic support across the most complex healthcare journeys

BOSTON – (PRNEWSWIRE) May 27, 2020 InfiniteMD, a leader in virtual expert opinions, today announces the launch of its new Virtual Center of Excellence (VCOE) programs, which pair individuals with an expert multidisciplinary team of up to five physicians for remote expert opinions. These progressive and first-of-their-kind programs mirror all the expertise and education found at physical centers of excellence and deliver it virtually to patients as they navigate otherwise complex and nuanced healthcare journeys.

InfiniteMD’s first two VCOE programs are focused on Oncology and Musculoskeletal Conditions, addressing the widening and costly gap between standard care and optimal care. Studies have previously demonstrated that the ongoing collaboration of an expert multidisciplinary team produces the greatest improvements in quality of life and outcomes for patients. However, facilitating this type of collaboration virtually in the digital health space has had two key challenges: forming deep enough relationships with elite physician teams to promise longitudinal access and perfecting the technology used to facilitate team-based reviews.

InfiniteMD has developed these VCOE programs and platform enhancements with the guidance of highly engaged experts at centers of excellence across the country. They represent physician champions of the platform and have evangelized their colleagues around innovation in delivering multidisciplinary remote expert opinions.

“At the heart of each VCOE is a true collegial, synchronous case review by a dedicated team of experts that collaborate and interact prior to each consultation via our platform. This enables the most advanced and comprehensive multidisciplinary program in the industry,” said Babak Movassaghi, PhD and CEO of InfiniteMD. “Our physician champions are stewards of these teams and drivers of enhancements to our platform, helping us to democratize access to medical advice on a longitudinal basis for patients everywhere.”

Additionally, the VCOE program is designed to reinforce care continuity and the treating provider relationship by extending the offer to collaborate with the VCOE physician teams on recommendations.

With clear benefits for individuals living far away from centers of excellence, and recent surges in virtual health delivery due to COVID-19, InfiniteMD believes these programs will also help payers reduce wasteful spending on inappropriate and non-optimal treatment plans by opening greater access to specialty care teams as employees prepare to return to work in the coming months.

About InfiniteMD

InfiniteMD is virtual expert opinion leader that provides consumers from around the world direct access to the best physicians in the United States via remote video and written consultations using its proprietary platform. Headquartered in Boston, Massachusetts, InfiniteMD works with physicians from institutions like Harvard Medical School-affiliated hospitals and other clinical centers of excellence that rank within the Top 20 Hospitals, per U.S. News and World Report. A cornerstone of InfiniteMD’s service is support for global consumers, which includes the international collection and translation of medical records, as well as providing medically trained interpreters during video consultations. www.InfiniteMD.com

ConsumerMedical Closes Strategic Equity Investment in InfiniteMD

Deal marks further expansion into virtual consultations with network of nation’s top physicians for patients with rare and serious diagnoses and those living outside of the U.S.

BOSTON – (PRNEWSWIRE) Jan 9, 2020 David Hines, CEO and Founder of clinical advocacy firm ConsumerMedical, announced today the closing of an equity investment in InfiniteMD (IMD). As a strategic investment partner, ConsumerMedical will support IMD’s growth and innovation and will become a shareholder in the Company. Terms of the transaction were not disclosed.

Both companies are leaders in the second opinion services, clinical advocacy and decision support industry, now valued at more than $3.6 billion and rapidly expanding. More than 76 percent of large employers offer one or more advocacy programs to their participants. The relationship will enable ConsumerMedical to continue to expand its virtual second opinion capabilities and further strengthen its position in the growing advocacy support marketplace.   

“We have been partnering with InfiniteMD this past year to create the leading clinical advocacy platform with the highest quality virtual, multi-modal expert medical opinion services available,” said Hines. “This investment marks the positive recognition of IMD’s ability to deliver top-notch virtual second opinion services globally for our participants and customers. Like us, IMD’s focus is optimizing quality of care while providing an outstanding member experience to individuals and families as they face some of the most important decisions of their lives.” 

Together, the two companies bring unique synergies and services to the marketplace. ConsumerMedical serves over four million individuals today through some of the nation’s largest employers, health plans, and private exchanges.  IMD provides U.S. and global capabilities in expert medical opinions by leveraging its proprietary platform and a network of over 2,000 of the nation’s top physicians in their respective fields.

IMD provides ConsumerMedical participants with access to highly-recognized physician leaders around the country who can review medical records, answer questions and give an opinion on a diagnosis via written report or video.  Participants and their families have the option to interact with physicians over live video, team-based multidisciplinary video, and asynchronous video— the most modalities available in the industry.  

The investment marks a significant expansion of the two companies’ initial business alliance announced in the Spring of 2019. ConsumerMedical cites a key reason for the investment as IMD’s high-quality network and platform and accelerating the technology roadmap.

“At InfiniteMD, our mission is to empower individuals and families with immediate access to the best experts in the world through our leading technology platform that expedites the second opinion process and collaborative interaction,” said Babak Movassaghi, PhD, MBA, CEO of InfiniteMD. “We welcome the deepening of our great partnership with ConsumerMedical and the synergies we bring to this growing field will enable us to set the standard for the second opinion and clinical advocacy marketplace.”

About ConsumerMedical 
ConsumerMedical is a leading clinical advocacy, decision support and expert second opinion company serving over four million individuals through some of the nation’s largest employers, health plans and private exchanges. The company has been serving patients and payers for more than 24 years. As a Medical Ally, ConsumerMedical guides participants throughout their healthcare journey with compassionate, high-touch support and deep clinical expertise. ConsumerMedical offers a fully integrated suite of solutions including Medical Decision Support®, Surgery Decision Support®, Expert Medical Opinion, Claims Advocacy and more, helping individuals and families navigate the healthcare system while improving outcomes and reducing costs. ConsumerMedical’s results have been validated continuously by independent actuaries. www.consumermedical.com

About InfiniteMD

InfiniteMD is virtual expert opinion leader that provides consumers from around the world direct access to the best physicians in the United States via remote video and written consultations using its proprietary platform. Headquartered in Boston, Massachusetts, InfiniteMD works with physicians from institutions like Harvard Medical School-affiliated hospitals and other clinical centers of excellence that rank within the Top 20 Hospitals, per U.S. News and World Report. A cornerstone of InfiniteMD’s service is support for global consumers, which includes the international collection and translation of medical records, as well as providing medically trained interpreters during video consultations. www.InfiniteMD.com

The Impact of Telemedicine and Access to Leukemia Experts: Insights on Patient Behaviors to be Presented at the American Society of Hematology 61st Annual Meeting

Results from the Expert Access program, jointly pioneered by the nonprofit CLL Society and technology partner InfiniteMD, cover a nearly two year period

BOSTON – (BUSINESSWIRE) Dec 5, 2019 – The Expert Access program for chronic lymphocytic leukemia (CLL), a first-of-its-kind collaboration, builds a “digital” bridge between underserved patient populations and the nation’s leading CLL physicians. The CLL Society, a nonprofit organization supporting patients with CLL, and InfiniteMD, a leader in virtual second opinions and health navigation, meet at the intersection of patient advocacy and telemedicine technology to power this novel program.

Expert Access was launched in 2017 and offers those affected by CLL the opportunity to receive a second opinion virtual consultation with a recognized CLL expert at no-cost to the participant, overcoming common financial, geographical, and logistical barriers.

The Expert Access program’s abstract, An Innovative Telemedicine Platform to Provide Expert Access to Patients with Chronic Lymphocytic Leukemia (CLL), was accepted by the American Society of Hematology for their 61st Annual Meeting and will be presented by Dr. Brian Koffman, co-founder, Chief Medical Officer and Executive Vice President of the CLL Society.

Adoption of Telemedicine to Reach Expert Physicians

The abstract highlights key pre- and post-visit survey data completed by 84 participants. The most widely held affirmation amongst all participants who joined the program was the role technology had on their decision to join Expert Access; 95 percent confirmed that the convenience of having their second opinion online was important in their decision to participate.

Building Confidence and Peace of Mind

In addition to the 92 percent of participants that stated they learned something new about their CLL and the 83 percent that felt greater peace of mind, other insights from the post-visit survey highlight confidence-building outcomes:

  • 86 percent were more confident in their understanding of their prognostic test results
  • 82 percent had a better understanding of their CLL diagnosis and treatment/management plan
  • 85 percent had improved confidence in this plan

Planned Changes to Care

One of the more interesting datasets gathered captures what participants plan to do in the future, after having access to a CLL expert physician; 75 percent planned to take at least one future action:

  • 55% would consider a clinical trial
  • 42% planned to do more research about CLL
  • 35% planned to have more tests done
  • 20% planned to pursue additional genetic testing

“For CLL patients, there is a proven survival advantage to having an expert on their team, and that has never been truer than now with all the new therapies. The CLL Society’s free Expert Access program helps patients who otherwise would not have such access get their best possible care,” says Koffman.

Christopher Lee, PhD and co-founder of InfiniteMD, shares Koffman’s enthusiasm for the impact of the program and the longitudinal data that has been captured. “Expert Access began as a pilot project nearly two years ago, and has grown to touch the lives of hundreds of participants and caregivers that have benefited from highly specialized advice brought directly to their homes via our platform. We have received overwhelming positive feedback. Now that the program has been expanded to cover more individuals in need, we are eager to measure new outcomes in 2020 and beyond.”

The Expert Access program continues to be made possible by the generous financial support and vision of Verastem Oncology. To date, the program has conducted 158 free consultations to underserved CLL patients and received in excess of 50 participant testimonials.

About The CLL Society
The CLL Society Inc. is a global, patient-centric, physician-curated nonprofit organization focused on patient education, support and research. Dedicated to addressing the unmet needs of the CLL and related blood cancer communities, the CLL Society explains the rapidly changing therapeutic landscape and the importance of clinical trials, builds patient support groups, educates patients and providers, and does important CLL research. www.CLLSociety.org

About InfiniteMD

InfiniteMD is virtual expert opinion and health navigation leader that provides consumers from around the world direct access to the best physicians in the United States via its proprietary platform. Headquartered in Boston, Massachusetts, InfiniteMD works with physicians from nationally ranked institutions, centers of excellence, and Harvard Medical School-affiliated hospitals. A cornerstone of InfiniteMD’s service is support for global consumers, which includes the international collection and translation of medical records, as well as providing medically trained interpreters during video consultations. www.InfiniteMD.com