CareConnext, a Founders Bay TechnologyOur technology helps hospitals to deploy electronic health record systems without exuberant system switching or data migration costs. We enable EHR Meaningful Use solutions and corresponding Medicare incentives four times faster and ten times cheaper than any other solution. Since our software works with ANY system, it complements ALL system vendors, allowing strong strategic partnerships.Electronic health record technology (EHR) has the potential for improving quality and cost of care. Government offers incentives to hospitals that use EHR systems in ways meaningful to that effect. It also penalizes those that do not. Incentives generally begin at $2M annually. Average hospital is running up to 50 service systems that contain bits and pieces of patient records. They are not designed to interoperate with the new EHR systems. CareConnext allows hospitals to easily connect those and EHR systems avoiding data migration costs. The value of this technology brings savings bigger than the costs of some EHRs.In September 2013, the new version of CareConnext suite was released and almost immediately contracted by a 14-hospital system for the migration of data from their discontinued departmental systems. The engagement of this scale placed a new level of working capital requirements on the company and the team started fundraising efforts to capitalize the growth of the business.