Health

Blockchain startup Avaneer Well being raises $50M in seed funding



Blockchain startup Avaneer Well being scored $50 million in seed funding from giant healthcare trade gamers.

Its first community members embody insurers Aetna, Anthem and Well being Care Service Company, suppliers Cleveland Clinic and Sentara Healthcare, and the PNC Monetary Companies Group.

WHAT IT DOES

Based in 2020, Avaneer presents a community utilizing blockchain and FHIR applied sciences to permit for safe knowledge trade between healthcare organizations.

That features instruments that assist payers trade data with each other, decide eligibility and conduct prior authorization.

WHAT IT’S FOR

The corporate will use the capital to put money into its workforce and expertise and expertise for the launch of its nationwide community.

“Addressing administrative prices and making a optimistic shopper expertise requires connectivity and the kind of knowledge fluidity now we have come to count on in different industries,” Stuart Hanson, CEO of Avaneer Well being, stated in a press release.

“We’re very excited to jump-start our community to allow healthcare organizations to work along with a basis of belief to resolve the ‘final mile’ drawback in healthcare. This group of well-known trade backers provides Avaneer Well being the preliminary capital, scale and information base from launch, and positions us for added progress and trade enterprise investments in 2022.”

MARKET SNAPSHOT

Interoperability and knowledge sharing are perennial issues in healthcare. Different corporations that tout improved knowledge trade inside the healthcare and life sciences industries embody Singapore-based Smarter Well being, which just lately scooped up $5.15 million SGD, and Datavant, which raised a $40 million Collection B in October 2020.

In August, Microsoft Cloud for Healthcare introduced it was increasing its API companies for healthcare. Its Azure Healthcare APIs lets customers to enter well being knowledge and map it with FHIR, permitting it to be extra simply searched and shared.

Different corporations within the blockchain area embody Signify Well being with its acquisition of PatientBlox in November 2020, Embleema and Change Healthcare



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