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ModMed

“Can a specialty-specific EHR company become the full financial and clinical operating system for ambulatory specialty medical practices?”

Founded2010
HQBoca Raton, FL
FoundersDaniel Cane, Dr. Michael Sherling
Latest roundSeries D, 2015 (IBM investment capping $20M round)
IndustryVertical SaaS / Healthcare

The story

Founded in 2010 as a specialty-specific cloud EHR for dermatologists, ModMed expanded to cover multiple specialty verticals (gastroenterology, ophthalmology, orthopedics, and others) over the following decade. In 2015 it partnered with IBM to embed Watson-powered clinical decision support directly into its workflows. By 2020 it had extended its platform into embedded payments via modmed Pay (powered by Adyen), revenue cycle management, and patient engagement, evolving from a pure EHR vendor into a full-stack specialty practice OS. Today it markets itself as an AI-Powered Practice platform with over 50,000 providers and ~$290M annual revenue.

Last 12 months

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Product timeline

2010

Founded by Dan Cane and Dr. Michael Sherling as a cloud-based specialty EHR company, launching EMA (Electronic Medical Assistant) for dermatology.· pivot

2015

IBM invested as part of a $20M Series D round to integrate Watson cognitive computing into ModMed's clinical decision support tools (schEMA powered by Watson).· acquisition

2020

Launched modmed Pay, an integrated patient payment processing solution powered by Adyen, offering POS and online payments within the EHR/PM platform.· banking

The stack

1 layer disclosed in ModMed’s embedded-finance stack

Payments / PSP

Adyen for Platforms Adyen

Accounting gap: minor

ModMed — frequently asked

Who is ModMed's payment processor?

ModMed processes payments through Adyen for Platforms and Adyen.

Who founded ModMed?

ModMed was founded by Daniel Cane and Dr. Michael Sherling and is founded in 2010, headquartered in Boca Raton, FL.

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