Aggregating data that is as diverse as it is in healthcare is no easy job. Just imagine the bulk of both structured and unstructured data that is generated from such varied sources as EMRs or HR softwares, and departmental data and so on. To consolidate such a huge volume of data and extricate logical information out of it takes some efficient analysis. The data for healthcare comes from all over the organization and to make this data accessible and actionable, efforts are needed to be extremely concentrated to streamline this data. Add to this, the additional elements of distributing data among buyers and data providers and the process seems, if put mildly, very tedious. But this is exactly what HealthVerity manages to do ever since it came into being. In fact, not only this, the company has also been headlining due to its strict HIPAA compliance that ensures privacy and data security.
HealthVerity was founded by Andrew Kress and Andrew Goldberg in 2014 with the aim of enhancing the discovery, availability, transparency, and cost efficiency of traditional and emerging healthcare data. The company based out of Philadelphia leverages ingenious ways to help their clients discover, link and license patient data across the whole range of top-tier data providers.
With rapid digitization, it is increasingly becoming easier to manage the patient data. But this has also brought forth a problem of a data breach in the healthcare industry. To tackle this problem HIPAA (Health Insurance Portability and Accountability Act) was introduced long back.
HIPAA is a very relevant standard in today’s scenario than it was then. Now, companies that deal with protected healthcare data need to have a physical, network, and process security measures and follow them to ensure that they adhere to HIPAA. HealthVerity empowers its customers to gain insights on patient activity while ensuring complete privacy management and HIPAA compliance.
HealthVerity has dedicated solutions to ensure complete data protection while also facilitating patient data in a privacy-protected manner. HealthVerity Consent leverages blockchain technology to understand patient data in totality and helps manage customer data use permissions.
Data privacy requirements change and evolve all the time hence it is important to efficiently consolidate the consumer healthcare consents and permissions seamlessly, HealthVerity supports this through its Consent solutions.
Healthcare organizations in a world full of providers, payers, and suppliers need to change preferences when it comes to sharing protected information under HIPAA. Although it is hard to manage consent centrally as the parameters and situations continuously change, HealthVerity manages to achieve exactly this to give a regulatory oversight across the enterprise and an ecosystem of partners.
Last year HealthVerity raised $10 million in its Series B round of funding that was led by Flare Capital Partners and Greycroft Partners. The funding was used to further develop the firm’s HIPAA compliance and to improve the company’s cloud platform.
As the leading company that acts as the middle ground between buyers and data providers, it has an important part to play. Their platform is inclusive of a wide range of top-tier providers that combines traditional and emerging data sources. The HealthVerity Marketplace offers linkable HIPAA compliant healthcare data on 300 million individuals in the U.S from over 50 different data providers. With HealthVerity’s technology enabling healthcare providers across the country these numbers are bound to grow as the healthcare industry grows. HealthVerity’s vision is revolutionary and continues to carve a niche for itself.
The Healthcare Aficionado
Andrew Kress, Co-founder and CEO of HealthVerity
Andrew was the CEO of SDI Health which was the recognized leader in clinical and transactional healthcare data-based analytics. Here he grew one of the largest linked de-identified healthcare data assets available. Under his leadership, the company became the nation’s second largest Pharma informatics concern with more than 600 employees. During his tenure at SDI, he oversaw multiple strategic acquisitions that enabled the company to grow and improve upon its shareholder value.
After IMS Health acquired SDI in 2011, Andrew became the SVP of Healthcare Value Solutions for IMS Health. Health Economics and Outcomes Research Services, Real World Evidence Solutions, Payer and Provider Services, Clinical Trial Optimization Solution and Government Solutions were among the few organizations reporting to Andrew. Further, he created the company’s mobile health offerings and designed their emerging genomics strategy. He is an investor and a valued advisor to many healthcare start-ups. He holds a B.A in English from the Yale University.
“Discover, link and license the HIPAA- compliant data that is right for you.”
“Leverage our data discovery and cohort-building tools to license exactly the healthcare and consumer data that you need from exactly the data providers that you want.”
“We are a passionate and diverse team that is tackling hard problems and delivering innovative solutions.”