As healthcare payment models change in ways that link the reimbursement of care to patient outcome, clinicians, drug companies, and medical device makers are all looking for ways to quantify those outcomes. Health IT startup Aetion has developed software that it says can provide this insight, and the company now has $11 million in capital to support its efforts.
Flare Capital Partners led the Series A investment round in New York-based Aetion. Lakestar also participated in the financing.
Aetion says its technology, called the Aetion Evidence Platform, analyzes clinical and financial interactions to find evidence about the effectiveness and value of medical treatments. The company, which counts life science companies and insurance companies as customers, says that users can work with the software to determine medical need, comparative effectiveness, and the value of a particular treatment.
The software platform also enables real-time communication between insurers, healthcare providers, pharmas, and medical device companies. Aetion says this capability can provide therapeutic insights and inform decisions in patient care.
Sebastian Schneeweiss and Jeremy Rassen, both faculty members at Harvard Medical School, and Allon Rauer, a big data technologist, founded Aetion in 2013. Aetion says it will use the funding to extend the capabilities of its platform and add more customers.