The business is developing a platform that will structure and stabilize de-identified client data from its member health systems. It will supply aggregate data analysis of prognoses, conditions and therapies to clinicians, scientists and biopharma business, said Terry Myerson, CEO of Truveta, in an e-mail. This data analysis will offer insights into various types of outcomes, treatments and conditions, with the objective of supporting scientific decision making and drug advancement.
.
Truveta, a health system-led data business, has raised $95 million in a Series A funding round and included 3 health system members.
Dallas-based Baylor Scott & & White Health, Columbia, Maryland-based MedStar Health and Arlington-based Texas Health Resources have now joined the 14 health systems that released the business in February. Truvetas 17 member health systems got involved in the funding round.
The business is developing a platform that will structure and stabilize de-identified patient data from its member health systems. It will supply aggregate data analysis of therapies, prognoses and conditions to clinicians, scientists and biopharma companies, stated Terry Myerson, CEO of Truveta, in an email. This data analysis will supply insights into various types of conditions, treatments and outcomes, with the aim of supporting medical choice making and drug development.
” Truveta intends to assist every healthcare company have access to expert information and advance health for all through helpful and broadly readily available tools,” Myerson stated. “With nearly $100 million bought Truveta, we have actually the resources required to accelerate our vision.”
The company will utilize the brand-new funds to build the infrastructure and cloud computing resources required to support scientific data in addition to hire technologists and health data experts.
With the addition of the 3 health systems, Truveta will have access to data representing more than 15% of U.S. client care, according to the news release.
” Truveta is unique in its breadth and depth of clinical data and continuous health system governance,” Myerson stated. “For the very first time in the history of health, we have enough information at scale to considerably advance innovation in healthcare with collective commitment to partner on ethical innovation.”
The healthcare data analytics market is forecasted to reach $80.2 billion in value by 2026, up from $11.5 billion in 2018, according to a recent market report. Though the market is crowded, with a large variety of business like Ayasdi and Flatiron Health, Truveta has the support of a few of the greatest and most prominent health systems in the nation, giving it access to a huge chest of de-identified client information.
” No one system can do what we will jointly achieve together by leveraging our data to improve every element of healthcare from the client care journey and experience to treatments and results,” stated Barclay E. Berdan, CEO of Texas Health Resources, in a press release.
As de-identified client data becomes progressively popular for usage in analytics, healthcare facilities should carefully consider privacy risks when entering into information-sharing contracts as there is the possibility that data could be re-identified when large sets are combined.
Picture: TAW4, Getty Images
