Silicon Valley-based healthcare data platform company Innovaccer, announced that is has closed $35 million in Series B funding, led by Microsoft’s investment arm M12 (formerly known as Microsoft Ventures), Westbridge Capital with participation from Lightspeed Ventures. The latest round brings the total capital raised by Innovaccer to $51 million. Founded in 2014, Innovaccer Inc. is on a mission to drive efficiency in healthcare by unleashing the power of data. Its leading healthcare data
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Innovaccer’s Healthcare Data Platform Helps ACOs Save More Than $264M Annually
Innovaccer, a San Francisco-based healthcare data platform company, proudly announced the success of its partner accountable care organizations (ACOs) that achieved over $264 million in savings across 1 million managed lives. The data has been gathered from different commercial insurance providers and the Medicare Shared Savings Program performance data for 2017.According to CMS’ results, ACOs in P.Y. 2017 have achieved about $314 million in Medicare savings. More than 60% of the 472 ACOs
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Innovaccer Launches Physician Engagement Solution From The CURES 2.0 Database
To assist physicians of California in meeting the CURES compliance and control drug overuse, Innovaccer has launched ‘InNote for CURES’. The solution delivers key insights from the CURES 2.0 database to physicians within the EHR, right at the point of care, as they prescribe Schedule II, III, or IV controlled substances.CURES OverviewThe opioids epidemic and drug abuse have become a huge challenge for the US healthcare. To ensure proper prescribing and administering of controlled substances,
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Innovaccer Launches EHR-Agnostic Physician Engagement Solution
The role of physicians is instrumental in the rapidly-transforming healthcare. There have been many strategic initiatives or restructured payment models- but the physicians have almost always been disconnected. Physicians are either overburdened with the data around them or have limited real-time visibility into the analyzed data.Limited access to the right data at the right time has dramatically increased the number of burned out physicians in the country. Additionally, the time-taking tasks of
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Hartford HealthCare Taps Innovaccer’s Healthcare Data Platform to Connect Over 70 Ambulatory Practice Sites
Hartford HealthCare, Connecticut’s most comprehensive healthcare network, has partnered with the leading San Francisco-based healthcare data platform company, Innovaccer Inc., to leverage data as a source of innovation in healthcare.Due to the siloed nature of traditional clinical systems, connecting practice sites within a dispersed health system has always been incredibly challenging. As organizations strive to improve efficiency and outcomes, the inability to link systems is proving to be a
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Puerto Rico’s Largest MSO Goes Live on Innovaccer’s Healthcare Data Platform
Inmediata, Puerto Rico's largest Management Service Organization (MSO), went live on Innovaccer’s healthcare data platform to drive analytics-powered healthcare, gain insights into provider performance and deliver value-based care. Inmediata currently manages around 70% of patient data across the island of Puerto Rico. Using rapid integration and advanced data analytics provided by Innovaccer's healthcare data platform company, Inmediata will be able to bring their data together and identify
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Innovaccer Unveils Potential Savings Advisor for Accountable Care Organizations
Despite the numerous interventions by the government to reinforce value-based care, the transformation of the healthcare ecosystem has been slow. As of 2018, there are around 400 ACOs under Medicare Shared Savings Programs alone and only 31% of them could generate shared savings.Additionally, ACOs are under immense pressure with an increased shift towards assuming more financial accountability. The reality is that every year ACOs end up leaving money on the table due to lack of awareness about
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Innovaccer Unveils Financial Analytics Solution For Hospitals and Health Networks
Innovaccer, a San Francisco-based healthcare data platform company, has announced the launch of its financial analytics solution for hospitals and health systems. The new offering will be built on top of its cutting-edge healthcare data platform, InData and will be a part of the analytics module, InGraph. The new offering will be built on top of its cutting-edge healthcare data platform, InData and will be a part of the analytics module, InGraph.As healthcare providers delve deeper into evolving
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Innovaccer Launches Automated Chart Retrieval Solution and Physician Engagement Solution for Payers
With the introduction of new payment models and transition to a patient-centric approach, the role of healthcare payers has become imminent. Historically, healthcare payers have been relying on claims data to build and manage multiple cost reduction programs, but claims data can provide the view of only half of the picture. Payers invest millions of dollars and countless hours retrieving charts and relevant clinical data, taking up as much as 20 days. The lack of comprehensive information along
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Innovaccer Raises $25 Million to Expand Unified Healthcare Data Platform
Innovaccer Inc., a Silicon Valley-based healthcare data platform company, announced today that it has raised $25 million capital in its Series B round of funding led by Westbridge Capital with participation from Lightspeed Ventures. This brings the total capital raised by Innovaccer to $41 million. Innovaccer plans to use the funds to continue building on its industry-leading suite and go-to-market capabilities.This includes enhancing its data platform by doubling down on its machine learning
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