Aver Informatics has raised $6.5 million from venture capital firms Drive Capital and GE Ventures to put an end to confusing healthcare payments, which for many patients deliver a dose of sticker shock in the form of a bewildering bundle of bills. As reported by TechCrunch, these billing procedures are even confusing to providers, and exacerbate the waste and inefficiency of the healthcare sector. Healthcare spending in the U.S. is expected to make up an astounding 25 percent of the economy by 2022. To counter this escalation, Aver Informatics uses data analytics to group procedures needed to resolve a healthcare episode and determine the most efficient, cost-effective course of treatment. The company sells its proprietary software to healthcare providers and administrators like the University of Pittsburgh Medical Center and the Ohio Department of Medicaid. The billing software charges patients for their specific health condition, not the individual steps in the treatment process. Aver Informatics’ data-driven solution has already shaved 10-50 percent on treatment payments for its 15 clients.
