LOS ANGELES, Calif. (Dec. 6, 2021) – OutcomeMD today announced that internet pioneer and serial entrepreneur Farhad Mohit, who has over $1 billion from exits in companies he has founded, including Flipagram (now TikTok), Shopzilla and BizRate.com, has made a significant investment in OutcomeMD and has joined the Board of Directors, signaling the company’s commitment to leading in the health outcome data space.
Mohit built the foundation of today’s online rating systems with the creation of BizRate, a top 50 site that leveraged verified customer ratings during the formative days of e-commerce. He said he sees parallels between his early venture and OutcomeMD.
“Consumer ratings have long played a role in helping people make better decisions using the Internet. As one of the pioneers in the space, I am delighted to see a company finally translating the use of statistically relevant ratings into the high-stakes area of healthcare,” Mohit said. “It has been surprising that people know more about the service they are going to receive at a restaurant, than the outcome of a surgical procedure they need to undergo. OutcomeMD is changing this, and I’m excited to contribute. Soon, outcome-based ratings of doctors will become a ubiquitous and positive difference-maker in people’s health and quality of life.”
Mohit joins a talented and dedicated board that include James Dal Pozzo, Outcome MD President Hooman Fakki, David Norris, Chad Gutstein and OutcomeMD Founder and CEO Justin Saliman, M.D.
“OutcomeMD is positioned to achieve massive adoption of clinical outcome tracking by delivering exciting new value to providers and patients,” Dr. Saliman said. “Farhad’s insight, experience and approach will be invaluable as we elevate and celebrate great physician outcomes. We are thrilled to have him on board.”
Following BizRate, Mohit founded Shopzilla, one of the first shopping search engines in the world. He then created Flipagram, which was the fastest growing mobile app of all time when it was acquired, and went on to become the social media juggernaut, TikTok. Over the years, philanthropy has taken up more of Mohit’s time. He currently serves as a board member of Burning Man, co-founding trustee at Farhang Foundation and patron and catalyst at the TED conference. He is also the founder and “full time volunteer” at Good Party, a public benefit platform and community of creators, helping independent grass-root political candidates run and win elections.
Mohit’s investment and commitment to a commercial venture underscore his belief in the mission and vision of OutcomeMD.
“I am passionate about applying technology to areas that sorely need better tools, and healthcare is one of those areas. Instead of pouring money into advertising themselves, doctors should be incentivized to be fully focused on achieving better outcomes for their patients,” he said. “OutcomeMD is the definition of positive disruption in the healthcare industry. We are creating a virtuous business model for doctors by creating must-see outcome-based ratings for anyone facing a medical procedure or looking to find a quality doctor.”
OutcomeMD is the first ever outcome management and marketing system, capable of generating consistently high engagement from healthcare professionals and patients alike across all medical specialties. Patients are given a fitness-tracker-like experience that helps them, and their providers, measure and track how their symptoms change over time as a result of their treatment choices. Aggregating each patient's scores and symptoms with confounding factor data and EMR data, the OutcomeMD platform provides doctors with real-time data to improve patient care decisions. OutcomeMD also helps the clinician generate revenue for obtaining good outcomes, and in doing so shifts their treatment focus from patient catering to patient care. Complication rates and overutilization of healthcare resources decrease, and overall efficiency and effectiveness of care improve. The Los Angeles-based company is working with clinicians, health systems, surgical centers, clinics and hospitals across the United States. For more information, visit OutcomeMD.com.
|OutcomeMD News Team|