ChronWell Raises $2.8M

Injury management program for workers’ compensation ChronWell has announced a $2.8 million in additional funding, bringing its total capital raised to $7.8 million.

Established in 2017, the Fort Lauderdale-based company develops ChronWell Recovry™, which delivers on the promise of providing early intervention and unified case management for all injured workers at the best value. ChronWell achieves this through the use of augmenting human case managers with Artificial Intelligence, technology-driven risk analysis, and a comprehensive psychosocial evaluation for every injured worker. Recovry provides a holistic view of every case and opens lines of communication between employee, employer and insurer from the onset of an injury. Ultimately, the ChronWell early intervention program helps injured workers recover faster and employers save money.

“Patient advocacy and empathy are core components of ChronWell’s service, not just add-ons. By coupling that with our advanced technology, we can ensure early intervention for each case, thus minimizing the impact of workplace accidents for all parties involved.” – Joe Rubinsztain, CEO of ChronWell.

Since the announcement of its Series A funding round of $5 million in early 2018, ChronWell completed a successful pilot program and has contracted with California Farm Management (CFM), a self-insured collective of multiple farming companies. During the pilot period, ChronWell helped CFM achieve 28% fewer workers’ compensation complex claims, and a nearly one-third reduction in litigated claims, resulting in an overall 22% savings in new claims cost for the company.