– AVIA raises $22M to expand its leading healthcare innovation network to expand its service offerings and reach new markets.
– Specifically, AVIA will tap into the new funds to grow its offerings in areas including consumerism, population health, and risk management, and to reach new markets such as pediatric hospitals and payers.
– Members of the AVIA Innovator Network access unique insights, participate in collaborative strategic initiatives, and engage in consulting services to increase speed and assurance for their digital transformations.
AVIA, a Chicago, based leading healthcare innovation network, today announced that it raised $22 million in new strategic financing led by First Trust Capital Partners with participation from Sumitomo and leading health systems. Twelve health systems part of the AVIA Innovator Network have invested in the company to date—greater than 25% of all network members—signaling their deep commitment to the company’s vision for digitally enabled systemic change in healthcare delivery and outcomes.
Founded in 2012, AVIA will use the investment to expand its resources to better serve healthcare organizations embarking on massive technological transformations. Specifically, AVIA will tap into the new funds to grow its offerings in areas including consumerism, population health, and risk management, and to reach new markets such as pediatric hospitals and payers.
AVIA Service Offerings
Globally, nearly all healthcare organizations are working to drive growth, improve quality and productivity, and prepare for financial risk. The proliferation of new digital solutions enable achievement of these goals — but only if organizations deploy them effectively.
Members of the AVIA Innovator Network access unique insights, participate in collaborative strategic initiatives, and engage in consulting services to increase speed and assurance for their digital transformations. This round of funding enables AVIA to expand its coverage of new digital topical areas, services, and markets:
Areas of focus: AVIA already has major initiatives underway to
– build the next-generation Digital Front Door and consumer journeys for healthcare organizations
– bring proven models of better, less expensive care to vulnerable populations through the Medicaid Transformation Project
– increase access and convenience through virtual health
– unlock workforce capacity through automation solutions
At the request of its members, AVIA will expand the breadth and depth with which it addresses consumerism, population health and managing risk-based arrangements, and redesigning practices to compete on productivity, access, and satisfaction.
Services: Building on AVIA’s prior work in ensuring client preparedness for digital transformation and creating results-focused digital roadmaps, AVIA is growing its consulting practice to help healthcare organizations link their overarching strategies to specific, technology-enabled business plans, as well as to build the skills, capacity, and governance to implement them faster. The company is expanding the resources it devotes to working with boards of directors and senior management teams on the urgency, scale, and sequencing required to master digital as a differentiating advantage.
Markets: AVIA already serves more than 50 healthcare organizations nationwide. With this financing, the company will extend its services to pediatric hospitals; a broader group of health systems; and health insurers, starting with provider-sponsored plans. The AVIA Connect online platform will link participants together, enabling more decisive action toward the goals of the industry.
“Digital technologies have transformed nearly every other industry, resulting in massive value creation, increased competitive intensity, and greater disparity between winners and losers. The installation of electronic medical record systems over the last decade represents just the first step in digital’s impact on healthcare. As the digital disruption of healthcare accelerates over the coming decade, we see big opportunities but equally big risks for incumbent healthcare providers,” says Eric Langshur, Co-founder and CEO of AVIA.