OpenLoop's 2022 Year in Review
OpenLoop sees 480% increase in talent acquisition, enters into new partnerships and receives big industry recognition
2022 was a year full of growth, innovation and recognition for OpenLoop. We’ve spent the last 12 months expanding our offerings, raising capital, growing our team of experts and continuing to build a better patient and provider experience at every touchpoint. Now it’s time to look back on all that we’ve accomplished and get ready for another amazing year in 2023.
Funding raised in 2022
Back in March, OpenLoop raised $8 million in funding for our Series A and brought our total funding to $11 million. This round of funding was led by SpringTide Ventures, a VC firm dedicated to improving the field of medicine by investing in organizations solving major technology challenges within healthcare. They were joined by ManchesterStory, along with all existing investors including Next Level Ventures, Panoramic Ventures, ISA Ventures and TechStars.
This Series A 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 across a wide array of specialty areas.
Brand new OpenLoop services
OpenLoop was able to launch two new services in the first half of 2022: Clinician Licensing and Payer Coverage & RCM. These new services offer our clients a more complete suite of white-label solutions that streamline regulatory and compliance processes and drastically decrease the time-to-first-patient.
Clinician Licensing
If you're looking for rapid clinician licensing and credentialing for your providers, our Clinician Licensing is an NCQA accredited service that takes the work out of your hands and into ours. We’ll apply on your behalf and keep your clinician’s licenses up-to-date when it’s time to renew.
Payer Coverage & RCM
With 250 million patient lives covered already, our Payer Coverage & RCM has everything you need from first visit to final payment. OpenLoop’s expansive payer coverage clinician network paired with our unmatched RCM services are built to strategically streamline your reimbursement and payment process.
Partnership with BlueJeans by Verizon
In November, OpenLoop announced a new partnership with BlueJeans by Verizon, an intuitive, HIPAA-ready virtual care platform designed to help drive better patient interactions from beginning to end. This partnership will provide OpenLoop clients access to BlueJeans Telehealth and also give BlueJeans customers access to unrivaled provider staffing services through OpenLoop’s NCQA accredited network of clinicians in all 50 states, with payer coverage spanning 600+ plans including Medicare and Medicaid.
We are looking forward to working with BlueJeans in 2023 to provide greater quality care outcomes by combining both our industry leading services.
Record breaking growth (and still going)
Throughout 2022, OpenLoop has seen record breaking growth in both the number of clients won and within our own internal recruitment efforts. Our first half of 2022 in review gave a sneak peek into the major growth the company was experiencing and it’s only risen from there.
This year, OpenLoop has signed over 60 new clients. Additionally, through our network of certified providers and private label technology, we’ve been able to affect 90,000 patient lives. A huge milestone for the company and everybody on the OpenLoop team who helped make it happen.
Speaking of teams, these growth metrics would not have been possible without expanding our own. We’ve added 120 OpenLoop employees bringing us to a total of 145 at the beginning of December. That’s a whopping 480% increase in talent acquisition since January. With 45 open positions still open at the moment, we’re not slowing down anytime soon!
Launched new OpenLoop website
In October, OpenLoop launched its brand new website!
OpenLoop’s website refresh includes a personalized user experience starting with the home pages that are built to explore by either companies or clinicians with a bar to toggle between views. That same attention to customization carries across the visitor journey with the ability to browse by digital health vertical, telehealth solution or clinician support service.
The site is packed full of new content, including blogs, whitepapers, news and videos to explore. It also gives visitors multiple options for getting in touch with an expert on the OpenLoop team, by booking a scoping call directly, submitting an inquiry form or calling to speak with a team member right then and there.
Check out our full press release to read more about the many updates and additions to the new site.
OpenLoop recognition, certifications and awards
OpenLoop is honored to have received numerous awards this past year for our successes in areas from company culture to our industry leading health technology. Here is a list of the awards and nominations we’ve been recognized for in 2022:
Early in 2022, OpenLoop received an NCQA accreditation for their clinician licensing and credentialing services. This allows OpenLoop to streamline our licensing and credentialing process to expand your clinicians licensure and verify providers faster.
Young Alumni Entrepreneur of the Year (JPEC) - Dr. Jon Lensing
Our CEO and Founder, Jon Lensing, was recognized as the Young Alumni Entrepreneur of the Year by his alma mater, University of Iowa, for his work at OpenLoop. The Iowa Innovation and Entrepreneurship Honors, hosted by the John Pappajohn Entrepreneurial Center, recognizes students, alumni, faculty, staff, and JPEC program participants who create value through innovation and entrepreneurship
Best Tech Startups in Des Moines - Tech Tribune
The Tech Tribune compiled the very best tech startups in Des Moines, Iowa and considered several factors including but not limited to:
Revenue potential
Leadership team
Brand/product traction
Competitive landscape
Additionally, all companies must be independent (unacquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify.
Best Tech Startups in Iowa - Tech Tribune
The Tech Tribune compiled the very best tech startups in Iowa and considered several factors including but not limited to:
Revenue potential
Leadership team
Brand/product traction
Competitive landscape
Additionally, all companies must be independent (unacquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify.
Best Places to Work in the Midwest - Purpose Jobs
The list covered companies headquartered and hiring in the following cities: Ann Arbor, Chicago, Columbus, Cincinnati, Detroit, Grand Rapids, Cleveland, Des Moines and more. Companies across the Midwest region (and those hiring in the Midwest) were evaluated based on culture, benefits, growth opportunities, commitment to people and mission.
Software Development Company of the Year - 2022 TAI Prometheus Awards
This award recognizes innovative companies in software development or applications to solve strategic business challenges, guide business decisions or enhance productivity and efficiency for the organization and/or its end users. This comes on the heels of the company’s Startup Technology Company of the Year award win in 2021.
The Digital Health 150 - CB Insights
Every year, CB Insights generates a list of the 150 most promising digital health companies in the world. Chosen from a pool of 13,000 companies, OpenLoop was listed among those top digital health companies. This year's winning companies include startups working on interoperability and data integration, home care and monitoring, AR/VR in healthcare, hybrid care, and more.
We are incredibly honored and excited to have been recognized and chosen alongside so many other great companies across the globe.
What to expect for 2023?
2022 was another record breaking year for OpenLoop, and we expect 2023 to be no different. We plan to keep growing our internal teams, expand our service offerings, look for partnership opportunities and continue to offer high-quality virtual care to providers and their patients.
With that in mind, if you’re looking to expand your nationwide provider network and coverage, streamline licensing, stay up-tp-date on compliance standards or upgrade your EHR—we’d love to hear from you. Get in touch here!
Our full suite of Telehealth Support Services include: