Innovaccer

Innovaccer Inc. is a Silicon Valley-based digital healthcare company, founded by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta that provides physician practices, hospitals, health systems, and other healthcare providers with different digital products. The company was founded in 2012 and is headquartered in San Francisco, California. In February 2021, the company was valued at $1.3 billion.^[1]

Innovaccer

Industry	Digital Healthcare
Founder	Abhinav Shashank Kanav Hasija Sandeep Gupta
Website	www.innovaccer.com

History

In 2011, Abhinav Shashank and Kanav Hasija started on a data analytics project at Wharton and Harvard University that focused on bringing distributed datasets together and leveraging data through analytical technologies.^{[citation needed]} The project was a basic research on how big data can be studied, crunched, analysed and the insights that can be derived from the same. This was the basic idea that led to the formation of Innovaccer by Abhinav, Kanav, and Sandeep in Silicon Valley in 2012.^[2]

In February 2021, Innovaccer confirmed a $105 million Series D that values the company at $1.3 billion, bringing its total funding to $225 million.^[3]

Products and Resources

Innovaccer provides digital products in the areas of Population Health Management and Pay-for-performance. It also offers solutions for care management, referral management, and patient engagement.

Innovaccer's proprietary product, Datashop helps healthcare organizations provide better care by integrating complex data across multiple distributed sources to give insights. Innovaccer Datashop's proprietary modeling algorithms normalize the data and links data across multiple disparate data sources.^[4] With a micro-services architecture, Datashop brings Lego-like modularity to help providers and networks pick and choose what they need.^[5] Applications within the platform include an integrated data lake,^[6] population health management,^[7] care management,^{[citation needed]} referral management,^{[citation needed]} and quality reporting.^{[citation needed]}

Apart from the abovementioned product offerings, Innovaccer has also launched several free tools offering comparisons and valuable insights for providers and payers. Some of the tools launched by Innovaccer are ACO Compare,^[8] Hospital Compare,^[9] Payer Compare,^[10] MIPS Calculator,^[11] and MACRA Toolkit.^[12]

References

1. "Healthcare's Latest Unicorn: Big Data Startup Innovaccer Raises $105 Million At $1.3 Billion Valuation". forbes.com. Retrieved 24 February 2021.
2. "2 Mn Patients, $15.6 Mn Funding: How InnovAccer Looks To Leverage Big Data Analytics To Change The Healthcare Game - Inc42 Media". inc42.com. 16 December 2016. Retrieved 25 April 2017.
3. "Healthcare's Latest Unicorn: Big Data Startup Innovaccer Raises $105 Million At $1.3 Billion Valuation". forbes.com. Retrieved 24 February 2021.
4. "Big Data Startup Innovaccer Lands $15.6M for Integrated Care Framework". 15 August 2016. Retrieved 25 April 2017.
5. "Innovaccer to launch big data platform for population health at HIMSS17". Healthcare IT News. 2017-01-24. Retrieved 2017-05-02.
6. "Big Data Startup Innovaccer Lands $15.6M for Integrated Care Framework". 2016-08-15. Retrieved 2017-05-02.
7. "Innovaccer Launched Comprehensive Platform to Optimise the 7 Stages of Value-Based Reimbursement at HIMSS 2017 - Datashop". Retrieved 2017-05-02.
8. Cohen, Jessica Kim (12 January 2017). "Innovaccer launches data tool to help providers compare ACO performance". www.beckershospitalreview.com. Retrieved 2017-05-02.
9. "Innovaccer launches tool to compare hospital performance". Healthcare IT News. 2016-11-17. Retrieved 2017-05-02.
10. "Innovaccer Launches Free Tool to Help Care Teams Track, Monitor Medicare Advantage Plans". 2017-03-15. Retrieved 2017-05-02.
11. Cohen, Jessica Kim (30 November 2016). "Innovaccer unveils MIPS calculator to help providers estimate payments". www.beckershospitalreview.com. Retrieved 2017-05-02.
12. "Innovaccer launches MIPS reporting and performance optimization platform". Healthcare IT News. 2017-02-08. Retrieved 2017-05-02.