Innovaccer, a Silicon Valley based big data startup has raised $15.6 million in Series A funding led by Westbridge Capital Partners with participation by other angel investors. The company plans to utilize the latest round to expand its footprint in healthcare as providers and payers struggle to reduce the inefficiencies in the current healthcare system,
Founded in 2012, Innovaccer‘s big datashop helps healthcare organizations provide better care by integrating complex data across multiple distributed sources to give insights. Innovaccer datashop’s proprietary modeling algorithms normalize the data and links data across multiple disparate data sources.
The company’s three specific solutions for healthcare include:
– Population Health Manager: alert and scheduling system which automatically alerts you for risk uplifts, missed schedules, deviation from goals, and much more. It also enables Head Coaches or Care Managers to manage their intervention schedules and act as their virtual assistant so that they don’t miss a patient.
– Quality Manager: performance metrics at the practice, provider, and patient level, to identify the gaps in care and maximize incentives. Picks and choose from multiple measures, various programs, preferred reporting methods to automate calculation, tracking, and reporting.
– Integrated Data Lake: data pipelining that gives a powerful control over the data flow from different systems, and makes it easy to raise alerts and notifications in case of any failures.
Innovaccer is already working with large research and healthcare customers across the world and counts Catholic Health Initiatives, Partners Healthcare, Sonic Health Systems, Harvard, Stanford, MIT, Wolters Kluwers, Artesyn, among its customers.
“Real time data integration, access, interoperable exchange, and advanced analytics can be a game changer in Healthcare and can result in huge outcomes,” said Abhinav, Co-founder and CEO of Innovaccer.