Diameter Health, a fast-growing leader in health data interoperability, has announced that it raised $18 million in a Series B funding round led by managed care organization Centene Corporation, with participation from existing investors Optum Ventures, LRVHealth, Connecticut Innovations and Activate Venture Partners. This brings Diameter Health’s total funding to $30 million. “We invested in Diameter Health because their ability to automatically integrate and normalize clinical data will play an important role as we look to accelerate innovation and digitization across our company,” said Centene Executive Vice President and Chief Information Officer Mark Brooks.
Diameter Health has built a strong reputation for normalizing clinical data and transforming it into a valuable data asset via an API that enables real-time data exchange. Its leading FHIR-enabled integration engine, Fusion, parses, normalizes and enriches over 225 million clinical documents on behalf of health information exchanges, the Veterans Administration, state governments, large health plans, health information technology (IT) vendors as well as life insurance companies.
Diameter Health plans to use the new funding to expand Fusion’s ingestion capabilities to accept all health messages, standards and data sources as well as to further enhance Fusion’s real-time enrichment and analytics with machine learning capabilities like natural language processing. Diameter Health also plans to expand its large network of direct connections between Electronic Health Record (EHR) systems, Health Information Exchanges (HIEs) and other health care data sources to enable more widespread, seamless and secure data exchange.
“We are thrilled to have Centene Corporation join the Diameter Health investor syndicate in this round,” said Eric Rosow, chief executive officer (CEO) and co-founder of Diameter Health. “This new financing validates that our technology is a valuable component to solving today’s challenges of health data interoperability across an enterprise. Normalizing, enriching and integrating data across sources is time consuming and expensive. Organizations are using our API to accelerate their own data enterprise strategy and are driving real cost efficiencies and value in closing care gaps, more accurately assessing risk, strengthening underwriting, and ultimately improving patient care and outcomes.”
Diameter Health is the standard for health data optimization, transforming raw information into the highest quantity and quality of interoperable data for health care organizations. Powered by automated, scalable, auditable technology and a team of industry experts, Diameter Health delivers actionable and enriched health care data that enables real-time transactions, improved analytics, reduced cost, and better care outcomes. The Diameter Health platform enables organizations that depend on multi-source health care data streams, such as health plans, Health Information Exchanges (HIEs), health care IT, life insurers, and health systems to realize greater value from their data. For more information, visit www.diameterhealth.com or contact us at firstname.lastname@example.org.
This was reported by Diameter Health on December 17, 2020.