Blockchain-based healthcare data exchange company Avaneer Health secures $50M seed funding

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Avaneer Health, an interoperable healthcare data exchange company based on blockchain technology, has secured $50 million in seed funding from a number of major healthcare players.

Those supporting the Chicago-based network include Aetna, Anthem, the Cleveland Clinic, Health Care Services Corporation, Sentara Healthcare and the PNC Financial Services Group. The new funds will be invested in hiring additional team members and necessary technology upgrades for the nationwide launch, the company announced Jan. 13.

“Managing administrative costs and creating a positive customer experience requires connectivity and the kind of data fluidity we expect in other industries,” said Stuart Hanson, founding CEO of Avaneer Health, in a statement. . “We are very excited to relaunch our network to enable healthcare organizations to work together with a foundation of trust to solve the ‘last mile’ problem in healthcare.”

The aforementioned companies, along with IBM, founded the startup in June 2021 and represent 80 million patients covered and 14 million visits per year.

Avaneer’s member network initiates and streamlines care, helping payers exchange data, assess eligibility for processing, perform pre-authorizations and other services.

“To achieve truly seamless and seamless care, healthcare needs greater transparency and easier navigation for all parties involved, especially as we move towards greater adoption of grounded care. on value,” said Tim Skeen, Co-Chairman of the Board of Avaneer Health and Senior Vice President and CIO of Sentara Healthcare.

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