OpenLoop Reaches New Milestones In First Half Of 2022
A record-breaking year for OpenLoop
OpenLoop, a health tech leader delivering full-stack, white-labeled clinical support to companies across the nation, has seen record-breaking growth in the first half of 2022.
March brought a $8 million Series A investment round that has been largely allocated to adding new talent across both the Growth and Operations sides of the organization. We also used that investment to continue to expand our service offerings for our digital health clients.
Throughout the first half of 2022, OpenLoop has been dedicated to hiring new talent across all areas of the business. OpenLoop added 77 new hires since January, bringing our team total to 115. We’re on track to surpass 150 employees by the end of 2022 with multiple open positions on our site. We’re also proud to be holding steady at a 90+% employee retention rate. This is a testament to the work we’ve been putting into onboarding, training & development and team building over the past 6-months.
OpenLoop’s also been busy on the telehealth conference and award scene. We sent team members to the 2022 HIMSS, ATA and ViVE conferences to network, exhibit and attend thought leadership sessions with fellow leaders in the marketplace. Our COO, Christian Williams, presented at the Iowa Technology Summit in April on ‘Building & Inspiring an Inclusive Hybrid Team’. OpenLoop was also awarded a top technology startup on the ‘10 Best Tech Startups in Iowa’ list.
The team's continued growth efforts have seen a positive return with 30 new clients signed and 2,500 patients seen in the past 6-months alone. These numbers are an encouraging look into the rest of 2022 and the opportunities awaiting OpenLoop and our partners.
As we entered into April this year, OpenLoop achieved the Credentials Verification Organization (CVO) Certification from the National Committee for Quality Assurance (NCQA). NCQA is a private, non-profit organization dedicated to improving healthcare quality. This 12-month long certification underlines OpenLoop’s leadership excellence with an official stamp of approval on our provider staffing, licensing and credentialing services.
Last but certainly not least, in May, our in-network clinicians officially exceeded 90% nationwide payer coverage across 300 million patient lives. That means OpenLoop clinicians can now see patients covered by 600+ insurance plans including Medicare, Medicaid and every major insurance payer. This makes OpenLoop the first in the U.S. to hit such a major milestone. Shortly after the announcement, we added payer coverage and RCM to our roster of industry-leading, telehealth support services.
OpenLoop is excited to continue this positive momentum for the rest of 2022. Keep an eye out for our ‘Year in Review’ post in the months ahead.