5 Health Care Big Data Companies to Watch
Healthcare big data is changing the face of medicine. The digitalization of patient health records combined with the ability to share, collect and analyze information across multiple sources — thanks to the cloud — has opened the door to enormous possibilities for advancing medicine, patient care and delivery. As a result, a number of companies are beginning to capitalize on the big data revolution in order to improve human health around the world.
Here are 5 innovative health care big data companies to watch:
Redox, the startup out of Madison, Wisc., offers an EHR integration platform that opens the door for interoperability. Redox markets itself as the modern API for EHR integration — “the bridge from health systems to the cloud and back.” Companies such as Impedimed are using Redox to “streamline the interoperability of its device with multiple EHR vendors,” according to PR Newswire.
Redox has recently teamed up with Kinvey, which specializes in back-end services, in order to shorten development time. As Xconomy reported, “’For mobile developers, accessing [electronic health record] data is cumbersome and time-consuming,’ says Jikku Venkat, Kinvey’s vice president of product, in a prepared statement. ‘With Redox and Kinvey, developers gain a standardized way of accessing [EHR] systems, masking the subtleties of each system, and turning a six-month project into a one-month project.’”
Flatiron Health is using big data and its cloud-based software platform to connect cancer centers across the country. As Fortune wrote in Flatiron Health’s Bold Proposition to Fight Cancer with Big Data, “Flatiron’s OncologyCloud platform includes an analytics section, an EMR piece that comes courtesy of the company’s recent acquisition of Altos Solutions, a patient portal, and a billing portion. Together, the technologies provide what the company calls the world’s largest single source of structured real-world oncology data and intelligence. By enabling that data to be shared in HIPAA-compliant ways, Flatiron hopes it will accelerate personalized medicine and research.”
The NYC based startup was founded in 2012 and has attracted recent attention for raising $175 million Series C funding “to further bolster its oncology cloud software platform for providers and accelerate personalized medicine,” according to a Flatiron Health press release.
Apixio is a data science company that extracts data directly from EHRs to make chart acquisition “simple, reliable, secure and repeatable.” According to Healthcare IT News, “Apixio’s platform, named HCC Profiler, mines unstructured data to spot trends and insights particular to chronic conditions… to enable clinicians to deliver better care.” Earlier this year Apixio raised $19 million in venture capital funding and hopes to use the money to build upon its healthcare cognitive computing platform. By mining and “reading” data, cognitive analytics gives physicians the ability to offer very personalized patient care. In addition, the ability to read and mine data is considered essential for reimbursement/billing and risk management.
ePatient Finder is a cloud based healthcare technology company that leverages EHRs to offer physicians insight on open and available clinical trials and identify which patients will benefit from these trials. The platform works as an “exchange”, using robust analytics and a three-tier filtering process to allow physicians to quickly identify which of their patients could benefit from clinical trials currently available in their local geographic area. The service is free to use, HIPPA compliant and recently brought in $8 million in venture capital funding, with the goal of fueling its next stage of growth, according to an ePatient Finder press release.
HealthVerity has created a cloud based platform that offers tools for managing, linking, distributing, licensing and purchasing patient data. Marketing to both data buyers and data providers, HealthVerity hopes to help customers gain new insight on patient health by “enhancing the utility, transparency, availability and cost efficiency of traditional and emerging healthcare data,” according to the HealthVerity website. Data types include medical and pharmacy claims, lab results and EHRs, and typical HealthVerity customers range from hospitals and payers to retail pharmacies. All HealthVerity data is de-identified and HIPAA-compliant. HealthVerity is a Philadelphia based company that was founded in 2014 and recently pulled in $7.1million in its first round of funding. The financing will be used to “fund continued development of its privacy and data interoperability technologies,” as reported by HealthCare IT News.
These are a few examples of the companies leveraging health informatics to improve patient care and create new career paths for health IT experts with the right combination of experience and education. The University of San Diego offers a Master of Science in Health Care Informatics that is preparing students for roles within leading technology and health informatics companies such as these. Students in USD’s program can choose to specialize in health data analytics or healthcare leadership, and can finish their degree in as little as two years while continuing to work full time.