Evariant raises $42m for healthcare analytics platform
Evariant has announced in a SEC filing that it raised $42.3m for its healthcare analytics and patient engagement platform, bringing the total amount raised to date to $68.3m. The company allows healthcare providers, such as hospitals, insurers or nursing homes to keep track patients’ use of their services, aggregating aspects of care such as clinical encounters, billing records, electronic health records and marketing data. This enables providers to identify and target demographics, and track patient activity, providing a more efficient approach to engagement and marketing campaigns. 

Farmington, Connecticut-based Evariant has raised $42.3 million for its physician marketing and engagement offering, according to an SEC filing. This brings the company's total funding to at least $68.3 million. Existing investors include Lightspeed Venture Partners, Dignity Health, Salesforce, Health Enterprise Partners.

“Healthcare providers are faced with tremendous challenges as they balance the transition from volume to value-based organizations,” Evariant CEO and co-founder William Moschella said last year when the company raised its last round. “Hospitals need access to big data, analytics and digital communication capabilities to turn clinical data into meaningful insights that drive proactive conversations. By providing these solutions on an integrated platform, we enable our customers to realize efficient patient, physician and employer engagement strategies.”

Evariant offers healthcare providers a platform to analyze the data they collect, execute marketing campaigns, and improve patient engagement. The offering, which is built on Salseforce's CRM platform, collects data from billing records, clinical encounters, patient's records, and other sources to identify patients who are most likely to respond to specific marketing campaigns.

Providers can use this data along with other information to plan their marketing campaigns, communicate with other members on their team, access marketing reports, and reach out to patients using email and texting.

Hospitals can manage physicians in their network using Evariant. The program helps hospitals track patient and physician referral activity and use that data to understand physician volume and loyalty. The company suggests that hospitals use this data to then score physicians based on referral volume.

The company's customers include University of Chicago Medicine, Scripps Health, and Orlando Health.

In September, Salesforce announced that it was launching its first product designed specifically for the healthcare sector: Salesforce Health Cloud. It's a patient engagement and patient management offering designed to work alongside the EHR and other data sources.