Covera Health, an NYC-based provider of analytics-based programs to reduce medical misdiagnoses and improve quality of care has raised $8.5 million in Series A funding led by Equity Group Investments (EGI). The Series A round also included select strategic and individual investors.
Founded in 2017, Covera Health leverages advanced data analytics to build Radiology Centers of Excellence Programs for employers, health plans, and other healthcare entities to reduce misdiagnoses, improve patient outcomes, and reduce medical costs. Covera Health’s solution is deployed in almost every state across the U.S. and leveraged by over one million covered lives
The health IT startup plans to use the funding to expand its existing clinical partnerships, invest heavily in its research and development efforts around quality analytics, as well as establish new relationships with various clinical and data partners. In addition, Covera Health will use the capital to support several growth initiatives, accelerate product development, and further build out its data science, engineering, and sales teams.
“An accurate diagnosis is fundamentally important for formulating the right treatment plan. That is why we started in radiology. All too often, patients are misdiagnosed at this pivotal juncture in their care, hindering their ability to get better,” said Ron Vianu. “Our approach to improving outcomes is premised upon partnering with providers to better understand how to measure and deliver quality care, ensuring each and every patient has the best opportunity for recovery,” added Vianu.
