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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based health care data software provider hc1 on Monday announced $6.25 million in new funding.
The company said the funds would it take advantage of its technology and expertise after its recent acquisition of Accumen, a Scottsdale, Arizona-based health care consultant.
Health Cloud Capital of Indianapolis, already an hc1 investor, led the new round of funding and was joined by Chicago-based A1 Health Ventures. New York City-based Arsenal Capital Partners joined the funding through its ownership stake in Accumen.
Hc1 founder CEO Bradley Bostic said, beyond money, the investors “bring unique access to industry thought leaders, talent, and health system partners to unlock the value of actionable lab data.”
Hc1’s strategy is to streamline and simplify massive and complex amounts of data. The company said patients frequently are either over or under-tested and diagnosed using “point-in-time” snapshots that don’t represent a complete picture of the patient’s health.
HC1 works with health systems and labs serving 90 million patients and 450 hospitals, using artificial intelligence to analyze data. That data is used to gain insights into patient care, health care provider operations and supply chain costs.
In short, hc1 provides software systems for health care providers to better analyze laboratory data. Accumen, with its consulting expertise, can help hospitals use the data to its highest potential. The company said it offers improvements and reduced waste through predictive insights, personalized care and increased efficiency.
“Hc1’s solutions support proactive management of longitudinal patient health, rather than reflexive responses to point-in-time care events,” Jon Phillips, managing director for A1 Health Ventures, said in written comments. “Their technology platform is uniquely positioned as the leader in identifying risk signals and insights in diagnostic lab data. As a result, their clients gain insights that improve patient care while enhancing financial results.”
HC1 doubled its employee count to 130 when it acquired Accumen.
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