The clinical-training-as-a-service (CTaaS) pioneer will use the investment to increase capacity at medical schools and hospitals across the U.S.
AMOpportunities, the Chicago-based pioneer of Clinical Training as a Service (CTaaS) announced today that it has closed its Series A round at$5.4 million. The round was led by OCA Ventures and co-led by HealthX Ventures (Madison, WI). Other investors include: PACE Healthcare,Chicago Early Growth Ventures, University of Chicago, Dreamit Ventures, and Wildcat LLC.
The company defines “clinical-training-as-a-service" as a platform that delivers clinical education sustainably for students, schools, and clinical sites such as hospitals. All future doctors need clinical training to graduate and enter the healthcare workforce. Due to staffing issues and overburdened administrators, hospitals are often unable to easily support this need for hands on clinical training.
The world is predicted to be short 18 million healthcare workers by 2030, according to WHO. COVID-19 has exacerbated the problem and demonstrated what a future shortage could look like.It’s clear a solution is needed. AMO is helping solve this serious problem by connecting hospitals, medical students, and medical schools on one easy-to-use CTaaS platform.
For medical schools, this means AMO helps increase enrollment capacity by connecting their students with hands-on clinical training opportunities. For hospitals, this provides increased medical talent and revenue, providing each hospital with up to $1.5 million a year in incremental revenue.
“AMO successfully navigated COVID-19, ending with a growth year due to exponential increases in demand from schools, hospitals, and students that will only continue in the coming years,” says Kyle Swinsky, CEO,AMOpportunities. Through 2021, AMOpportunities will expand further into clinical training for nursing students.
“AMOpportunities is on their way to solving the impending healthcare shortage and fulfilling their mission of providing critical hands-on clinical learning opportunities for medical professionals,” says Bob Saunders, general partner, OCA Ventures.