What You Should Know:
– Canid, the healthcare technology company dedicated to simplifying pediatric vaccine management secures $10M in Series A funding round led by Telescope Partners with participation from FJ Labs, Brooklyn Bridge Ventures, SeedtoB, and others.
– The new funding brings Canid’s total capital raised to $12.9M. Canid plans to use the funding to fuel the company’s expansion as it supports a growing number of independent pediatricians across the U.S.
– The company aims to solve a significant financial and administrative burden for pediatric practices, where vaccinations often represent the second-largest expense after staff salaries.
Administrative & Financial Burden for Pediatricians
Pediatric vaccine management is one of the most significant challenges for independent practices, which are facing a wave of industry consolidation. The administrative burden on pediatricians is substantial and growing, with physicians spending an average of 15 hours per week on administrative tasks, up from nine hours in 2012. This not only impacts a practice’s financial health but also contributes to physician burnout.
For many pediatric practices, vaccine programs are a source of financial strain. According to industry data, 69% of pediatricians either break even or lose money on their vaccine programs due to challenges with insurance reimbursement, complex inventory management, and significant administrative overhead. Canid’s integrated platform is designed to solve these problems by replacing manual, time-consuming workflows with an automated system that operates in seconds.
Automated Platform to Reduce Risk and Overhead
Founded in 2021, Canid has already partnered with more than 150 pediatricians in 12 states, encompassing over 300,000 children in their patient panels. To date, the company has facilitated vaccinations for 121,000 patients. By simply scanning a vaccine barcode, pediatricians can delegate all related administrative work, financial risk, and public health compliance requirements to Canid. The company’s platform integrates directly with electronic health records (EHRs) and automates the entire lifecycle of vaccines using a combination of AI, software, and economies of scale.
The platform provides pediatricians with:
- Automated Logistics: Seamless, automatic ordering, reporting, and billing.
- Guaranteed Payments: Elimination of inventory risk, with clear reporting and fast payments.
- Data-Driven Patient Outreach: Smart vaccination tracking to identify under-vaccinated children and improve completion rates.
“Pediatricians spend years training to provide exceptional care for children, not to become experts in revenue cycle management or inventory systems,” said Canid CEO and founder Pedro Sánchez de Lozada. “By handling all the business-side tasks and operations, our platform frees them up to focus on treating patients. We believe Canid will be the technology backbone that allows independent pediatric practices to thrive.”
