Healthcare systems are always looking for ways to save money, and a startup called Lumiata has just raised $14 million to continue building out its service that aims to help them do it.
The company’s software cleans up healthcare data sets and then analyzes them to look for underwriting risks and cost savings for healthcare payors and providers.
The company said it would use the money to accelerate investment in new products and services, along with sales and marketing. It expects to open new offices in Guadalajara, Mexico in 2021.
“Lumiata excels at building trusted relationships with its customers,” said Dalbir Bains, FGC Health’s chairman, president and CEO, a Lumiata customer. “They have delivered results that help us manage consumer risks for co-morbidities. Our long partnership means that we can depend on them long-term to help us manage our pharmacy business.”
Products help businesses manage underwriting and clinical costs and risks for decision support.