Health Integrated, Inc., a recognized innovator in data-enabled care management services announced that it has secured a total of $4 million in venture debt financing from Western Technology Investment (WTI). Health Integrated will use the investment to enhance its proprietary care management platform and to deploy additional analytic resources to further solidify its position as the leader in using big data techniques in healthcare.
This recent round of venture debt funding from WTI brings their total commitment to Health Integrated to $4 million. Health Integrated used the financing to expand its operations and to deploy new analytical tools, resulting in a current period of unprecedented growth.
"Health Integrated is continuing to make a hugely positive impact on the health care market," said Jay Cohan, investment partner at WTI. "Since our initial investment, Health Integrated has been able to further optimize care management for plan members and build out their analytical tools, making it possible for care payers and providers to achieve higher quality and satisfaction outcomes while doing more cost-effective work."
"WTI has backed disruptive innovators like Facebook and Google, and they have been tremendous partners to us as we've scaled our data-enabled services in a period of high demand," said Shan Padda, CEO of Health Integrated. "The health plans and other stakeholders we serve are rapidly adopting our targeted population and relationship-driven model of holistic care management that is enabled by our sophisticated data strategies. The results on our clients' medical benefit ratios and operating income have been compelling."
Health Integrated serves health plans and other risk-bearing entities by improving quality and achieving compliance which ultimately leads to both revenue optimization and cost reduction for its clients. WTI's investment will accelerate the release of additional features within Health Integrated's web-based platform which is used by credentialed clinical professionals within its operations centers in Tampa, FL, and Seattle, WA.
Health Integrated's programs include case management; utilization management; Special Needs Plan (SNP) Model of Care (MOC) management services; as well as its flagship integrated chronic condition care offering, Synergy Targeted Population Management®. All programs consist of identifying, engaging, empowering, and, ultimately, impacting individuals who oftentimes have conditions exasperated by both known and unknown psychosocial issues.
Founded in 1980, Western Technology Investment (WTI) is one of the world's oldest and largest venture debt funds financing venture-backed companies in the technology and healthcare industries. WTI's 14th fund builds upon the success of the firm's 34 year history, which includes investments in companies such as Brocade, Cerent, Facebook, Google, IDEC Pharmaceuticals, Infoseek, IronPort, Juniper Networks, Postini and many others.
Health Integrated is leading the reform of our healthcare ecosystem by changing the behavior of its participants to protect our most vulnerable members.