Nashville, Tennessee-based axialHealthcare raised $1.75 million in a round led by BlueCross BlueShield Venture Partners and Sandbox Industries, which manage health accelerator Healthbox.
While the names are similar, Axial Healthcare is not to be confused with Mayo Clinic spinoff Axial Exchange.
“Over 100 million Americans find themselves in an episode of pain each year; sadly, this is one of the most frustrating patient experiences in healthcare and highly vexing for practitioners and payers as well,” axialHealthcare CEO John Donahue said in a statement. “axialHealthcare is committed to helping the patient in pain with care that makes sense and moves them forward in their recovery. The additional capital will allow us to improve the health of more patients, support more practitioners and partner with more health insurers.”
axialHealthcare has developed three cloud-based platforms. The first, axialAnalytics, measures patient risk, clinical outcomes, and a practitioner’s performance during an episode of pain. The company has also developed axialNetwork, which measures pain management clinical outcomes, patient satisfaction and episode cost, and axialConnect, which is a patient engagement, monitoring and clinical decision platform.
The services will be available to patients and pain management practitioners but the company partners with insurers as well. axialHealthcare will use the funds to develop its partnerships further. It also plans to launch its axialNetwork and axialConnect platforms with early customers and start its next round of funding in early 2015.
The company was part of Healthbox’s Nashville class last year. BlueCross BlueShield in Nashville and HCA (Hospital Corporation of America), a healthcare service provider, sponsored the accelerator.
http://www.mobihealthnews.com/36229/axial-healthcare-raises-1-75m-for-population-health-analytics-platform
