Memorial Hermann Health System makes investment in Laudio

by | Nov 18, 2023 | Healthcare Industry News

Memorial Hermann Health System, the Houston-based healthcare provider, has made an investment in Laudio as part of the platform’s Series B funding round. This investment shows Memorial Hermann’s commitment to improving administrative workflows, employee efficiency, and engagement within its health system. Laudio is known for its AI-enabled platform, and assists healthcare management personnel in enhancing team engagement, a large factor in reducing burnout and employee turnover, while automating repetitive tasks. The decision by Memorial Hermann to invest in Laudio answers the need for innovative solutions in employee engagement and support, particularly with the challenges faced by healthcare workers in recent years. Dr. Feby Abraham, the Executive Vice President and Chief Strategy Officer of Memorial Hermann, stressed the importance of adopting advanced digital tools to support system-wide improvements. This technology is aligned with their strategy of utilizing modern digital resources to foster a supportive environment for their staff.

Laudio’s platform is not new to the healthcare industry. In 2019, the company secured $7.3 million in Series A funding to expand its platform. Following this, prominent healthcare systems, including Tufts Medical Center, Novant Health, and UNC Health, announced their adoption of Laudio’s offerings. Laudio also recently expanded its partnerships to include Northwell Health, New York’s largest healthcare provider, and Nebraska Medicine. These partnerships indicate Laudio’s growing influence in the healthcare sector, particularly in improving the management and operational efficiencies of health systems. The platform offered by Laudio is designed to aid repetitive tasks and provide daily suggestions and best practices, focusing on enhancing the connection between frontline leaders and their teams. By implementing Laudio’s solutions, healthcare systems can optimize workflows and allocate more time for meaningful team interactions. The entity boosts leader efficiency and contributes to the overall well-being of healthcare workforces. With its implementation at Memorial Hermann Northeast Hospital and plans for system-wide expansion, nearly 20 health systems nationwide have now adopted Laudio’s platform.

Midi Health, a California-based virtual care clinic for women over 40, has partnered with Memorial Hermann Health System to improve access to care for perimenopausal and menopausal women. This collaboration demonstrates an expanding approach to telehealth services, with Midi Health offering personalized care plans, lifestyle coaching, and prescription medication through a network of nurse practitioners overseen by physicians and researchers. The partnership allows patients to access Midi Health either directly through the company’s website or via referral from a Hermann Health provider. Previously, Midi Health announced a similar partnership with Lifepoint Health, and last year, it raised $14 million in seed funding to expand its operations and services. The strategic moves by Memorial Hermann Health System, in investing in Laudio and partnering with Midi Health, show a proactive approach in adopting digital health solutions to improve administrative efficiency and patient care.

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