Cincinnati-based Bon Secours Mercy Well being has made a strategic funding in healthcare analytics agency Trilliant Well being. The sum was not disclosed.
The well being system’s aim is to speed up the event of Trilliant’s predictive analytics platform, whereas additionally getting access to knowledge on nationwide and native healthcare tendencies, mentioned Deepesh Chandra, chief analytics officer of Bon Secours Mercy Well being, in an e mail.
The well being system’s newest funding is a part of its broader push into the healthcare analytics enviornment. The supplier can be one of many founding members of Truveta, a provider-led knowledge firm, that just lately raised $95 million.
“We’re dedicated to leveraging using knowledge to advance our means to enhance the well being and well-being of our communities, particularly people who find themselves poor, dying and underserved,” Chandra mentioned.
As a part of the funding in Trilliant, Chandra will be part of the corporate’s board of administrators as an observer.
Trilliant Well being’s platform leverages and synthesizes first-and third-party knowledge, offering customers with a complete view of market dynamics, at each a nationwide and regional degree, mentioned Hal Andrews, president and CEO of the Brentwood, Tennessee-based firm, in an e mail.
“Healthcare supply is a ‘negative-sum recreation,’ and healthcare suppliers are below intense stress to extend market share and generate a return on invested capital,” he mentioned.
The corporate’s platform makes use of superior analytics and machine studying to offer market insights into previous and current demand and provide. This permits suppliers to foretell future market dynamics and implement evidence-based methods for development, he added.
Based in 2017, the corporate has raised roughly $20 million to this point.
The marketplace for healthcare analytics is massive and anticipated to develop quickly. Market worth is projected to achieve $80.2 billion by 2026, up from $11.5 billion in 2018, in line with a latest report.
However Trilliant Well being is up towards some large gamers out there, together with McKinsey, Bain, Sg2 and Advisory Board.
Within the face of fierce competitors, Trilliant is ready to distinguish itself by “making use of its distinctive area experience in healthcare supply, shopper conduct, and superior analytics and machine studying to create evidence-based methods for healthcare suppliers,” Andrews mentioned.
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