The Venture Codex

Led · Equity · Sep 2018

Conceived in 2014 and launched in July 2016, EvidenceCare is a clinical decision support publishing platform built by emergency physician Dr. Brian Fengler. The platform delivers proprietary, expert-authored protocols for emergency medicine, antibiotic stewardship, gastroenterology and more, with content accredited by the American College of Emergency Physicians and the American College of Gastroenterology for CME credit. EvidenceCare integrates a patient education tool and a feature that accelerates documentation into any EHR, and its content is delivered to clinicians worldwide. The product is designed to give clinicians patient-specific, evidence-based treatment recommendations at the bedside quickly. Leadership says investment from NueCura has helped the company mature and supported efforts to launch and grow the business. The company emphasizes continued growth and clinician adoption while expanding its protocol library and integrations. EvidenceCare offers a patent-pending clinical decision support tool that presents patient-specific, evidence-based treatment protocols via a dashboard interface designed for rapid bedside use. The platform was conceived in 2014 and launched in July 2016, and since launch its content publishing platform is delivering protocols to nearly 1,800 providers worldwide. The company works with industry experts and medical societies to create content for complex, costly conditions and has assembled an advisory board that includes Dr. Art Laffer, Microsoft’s Chief Healthcare Strategist Eric Mueller, and HPE’s Mary Mirabelli. EvidenceCare is accelerating development of an Enterprise offering for hospitals and prioritizing EHR integration to make the product more compelling for enterprise customers. The Enterprise version is planned to launch in the summer, and the company intends to expand its content rapidly alongside that product rollout. The organization says the tool can deliver recommendations in as little as 30 seconds, aiming to improve patient outcomes and reduce inappropriate care.

Participated · Series A · Aug 2018

Trilliant Health builds predictive analytics and data-science products that synthesize first-party and third-party data to provide a comprehensive view of market dynamics and enable intelligent patient acquisition. Its platform helps providers develop strategies to increase market share, predict consumer preferences, and improve patient experience. The company said the new investment will accelerate development of its predictive analytics platform. Trilliant is trusted by more than 75 of the top U.S. health systems representing more than 1,500 hospitals. It recently published the "2021 Trends Shaping the Post-Pandemic Health Economy" report. No revenue or other financial metrics were disclosed in the announcement. Trilliant Health is an analytics and data science company based in Nashville that provides an analytics platform to help healthcare providers execute data‑driven growth strategies. The platform synthesizes all‑payer claims, household, and patient‑generated data from digital marketing campaigns to give a comprehensive view of market dynamics. Trilliant supports use cases including strategy, site selection, M&A, payer negotiations, physician relationship management, marketing, and employer relationship management. Today the company works with over 65 healthcare systems across the nation. Trilliant says it will use the new funding to continue building its data science and technology teams and to enhance its analytics capabilities. The company positions its insights to help providers respond to rising expenses, reimbursement cuts, and growing competition. Trilliant Health offers an analytics platform that uses advanced data science to combine claims data, household data, and user-generated data from digital marketing campaigns. The platform supports healthcare systems on strategy, site selection, M&A, payer negotiations, physician relationship management, marketing, and employer relationship management. The company works with over 60 healthcare systems across the nation to build and execute growth strategies. Led by CEO Hal Andrews, Trilliant plans to use new funding to continue building its data science and technology teams and to enhance its analytics capabilities. Financially, the company completed a $12M Series A round that included more than $7M of new equity capital. The round underscores the company’s focus on expanding product and engineering resources to better serve provider customers. Trilliant Health combines software applications and a data integration platform that links clinical, claims, and patient-generated data to deliver market-focused and patient-level intelligence. The company offers analytics, direct-to-consumer marketing, and physician and patient optimization tools, and has launched an intelligent healthcare CRM platform called Health IDology. Trilliant serves more than 500 hospitals, health systems, and ambulatory surgery centers across the country. It was formed in June 2017 through the merger of Aegis Health and Clariture Health and has since acquired Expression Health Analytics. The company says the additional growth capital will be used to expand product offerings for existing customers, accelerate product development, and pursue new relationships with additional healthcare systems. Trilliant’s stated focus is increasing profitable market share growth for health systems and other healthcare providers.

Participated · Series B · Mar 2017

Bivarus offers a cloud-based analytics platform that captures and delivers targeted, real-time patient insights to help healthcare leaders identify service issues at root cause, evaluate provider performance, and track quality improvement efforts. The company also measures employee perceptions around organizational effectiveness, culture, leadership and safety, and is a CMS-approved CAHPS® partner. In 2016 Bivarus grew revenues 700%, completed its first acquisition, and expanded its customer base to more than 150 hospitals, physician practices and surgery centers, including Mission Regional, Butler Health, CEP America and Tennessee Oncology. The platform emphasizes instant operational insights rather than retrospective reporting. Bivarus plans to use new capital to continue expanding its customer base and to enhance its data visualizations and advanced analytics. The company expects to hire approximately 10–15 new local employees over the next year to support growth. Bivarus is a Durham, N.C.-based patient-centered analytics company that measures and analyzes the patient experience with a patented, cloud-based real-time analytics platform. Its platform captures patient-generated insights to help healthcare organizations identify drivers of the patient experience, provider performance and patient behavior. The company significantly expanded its customer base in 2015 to include Covenant Surgical Partners, IVF New England, Johns Hopkins Hospital, RelyMD and Texas Oncology. Bivarus plans to use its most recent financing to continue expanding its customer base and product offering. The company expects to hire approximately 10 new local employees over the next year, primarily in sales, marketing and product engineering. The announcement follows strong growth in 2015 and an oversubscribed financing round. Bivarus provides a cloud-based SaaS platform that measures and analyzes the patient experience for hospital-based outpatient service lines, community clinics, and large group practices. The company replaces traditional burdensome surveys with sophisticated yet simple analytics that reduce response fatigue and improve patient response rates by 3–5x compared with traditional methods. Its platform aims to deliver timely, statistically precise, and actionable insights to identify service-recovery opportunities and improve quality, care coordination, team performance, and patient safety. Bivarus recently closed a $1.9 million financing led by Excelerate Health Ventures to capitalize on demand for its software. The company has experienced rapid growth, doubling its customer base over the past few months. To support continued expansion it is hiring additional customer success managers, sales professionals, and software developers. Bivarus is committed to building its operations in the Research Triangle region (Durham, N.C.).

Led · Seed · Oct 2016

Expression Health Analytics offers a big-data platform that leverages over 10TB of data, data science and interactive business visualizations to answer complex business questions and understand market dynamics. The platform is designed to help healthcare organizations construct efficient growth strategies without requiring data analysts or IT. The company is led by co-founder and president Jeff McDonald and is based in Nashville, Tenn. Expression Health Analytics intends to use new capital to scale its technology and expand its staff to support continued growth. The article does not disclose revenue or user metrics. No prior financings are mentioned.