Aver Inc., a Columbus, OH-based healthcare bundled payment-focused company and provider of a patented data management platform that simplifies the healthcare reimbursement process, raised $13.6 million in Series B funding led by Heritage Group, with participation from Cardinal Health, Inc., GE Ventures, Hearst Health Ventures, and affiliates of NCT Ventures and StartUp Health. The capital will be used to accelerate operations, grow its platform capabilities and expand market share healthcare bundled payment space. As part of the Heritage Group’s agreement to lead the funding round, Rock Morphis, managing director at Heritage Group will join Aver’s board of directors.
According to the Harvard Business Review, U.S. healthcare is on the cusp of bundled payments. In response to commercial and government payers setting goals and timelines for shifting reimbursements from volume to value, Aver created an intuitive software platform to build bundles around episodes of care and to support the payment administration of those bundles. Aver’s analytics tools and reports provide insights to measure and manage performance in a fee-for-value environment. These capabilities are essential in managing cost and quality of care. The Centers for Medicare & Medicaid Services alone will tie 50 percent of Medicare payments to these models by the end of 2018.
“We are excited to partner with Aver at this critical inflection point in its growth,” said Rock Morphis, managing director at Heritage Group in a statement. “As healthcare shifts into value-based care, payers, providers and employers will continue to look for ways to better align cost and quality in care delivery. With its best-in-class solutions, Aver is uniquely positioned to help its customers succeed in this transition.” He added, “We are very pleased to have the opportunity to co-invest with one of our strategic partners, Cardinal Health, and to work with Aver’s President and CEO Nick Augustinos and the Aver team.”