SharePractice Launches Crowdsourcing App For MDs to Build Best Practices

2014-03-20_17-38-48

San Francisco, Calif.-based SharePractice will launch a mobile app designed to let doctors collaborate on best practice treatment plans and use crowdsourcing to vote for the best approach to treating specific conditions.

SharePractice was founded in 2012 by Andrew Brandeis, MD. Prior to starting SharePractice, Brandeis was working at an urgent care center in San Francisco. His inspiration came from that experience, as he explains, “As I was sharing information with my colleagues, we started a Dropbox and eventually amassed some 10,000 treatments that we were using successfully in our practices. We needed a way to share what we had learned.”

SharePractice is the solution to that problem. The platform is pre-loaded with content from PubMed, UMLS, and Emerson Ecologics. Users can sign up to join the platform and, after being verified as a licensed clinician, can review these plans or contribute the treatment plans that they use in their own practices. Users are also encouraged to vote on the treatment plans that match what they do for their patients. The idea is to build a community of clinicians who will use the app as a reference tool to support their practice, but simultaneously contribute to the development of a crowdsourced evidence-based treatment plan platform.

To date, the company has raised $2.8 million in funding. FF Angel, Base Ventures, and Better Ventures contributed the initial $750,000 seed round, followed by a second $750,000 seed round that drew new angel’s and a second investment from FF Angel. Rather than moving to a Series A, the startup raised a third seed round investment of $1.3 million several months after closing its last round.

SharePractice is free for use but is restricted to MDs, though the company does eventually plan to open up access to NP, PA, and RNs. Medical licensure is verified through a partnership with Doximity, and then, once verified, users can access the system and begin researching and contributing information.

Because the app is free for use, and the medications are recommended based on crowdsourced voting, it is not immediately apparent how SharePractice will monetize its platform. The question is published on its FAQ page, but rather than explaining its monetization strategy, it only explains the premise behind the free app, saying “We think that the information we’re learning from each other is more valuable than any amount of money we can charge for the app. And we believe that medical knowledge should be open, transparent and decentralized. Our investors agree.”


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