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Cincinnati-based Bon Secours Mercy Health has made a strategic investment in healthcare analytics firm Trilliant Health. The amount was not disclosed.
The health systems goal is to accelerate the development of Trilliants predictive analytics platform, while also getting access to data on national and local health care patterns, said Deepesh Chandra, primary analytics officer of Bon Secours Mercy Health, in an email.
The health systems most current investment is part of its wider push into the health care analytics arena. The provider is likewise one of the charter member of Truveta, a provider-led data business, that recently raised $95 million.
” We are committed to leveraging making use of information to advance our capability to enhance the health and wellness of our neighborhoods, specifically individuals who are bad, passing away and underserved,” Chandra stated.
As part of the investment in Trilliant, Chandra will join the companys board of directors as an observer.
Trilliant Healths platform leverages and synthesizes first-and third-party data, supplying users with an extensive view of market dynamics, at both a national and regional level, stated Hal Andrews, president and CEO of the Brentwood, Tennessee-based company, in an email.
” Healthcare shipment is a negative-sum video game, and doctor are under extreme pressure to increase market share and produce a return on invested capital,” he stated.
The companys platform utilizes sophisticated analytics and artificial intelligence to offer market insights into present and past demand and supply. This enables companies to predict future market dynamics and carry out evidence-based techniques for development, he added.
Established in 2017, the company has actually raised approximately $20 million up until now.
The marketplace for healthcare analytics is large and expected to proliferate. Market price is projected to reach $80.2 billion by 2026, up from $11.5 billion in 2018, according to a current report.
But Trilliant Health is up against some huge gamers in the market, including McKinsey, Bain, Sg2 and Advisory Board.
In the face of strong competition, Trilliant has the ability to differentiate itself by “applying its unique domain expertise in health care delivery, consumer behavior, and advanced analytics and device learning to produce evidence-based techniques for healthcare suppliers,” Andrews said.
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