The healthcare system’s goal is to accelerate the development of Trilliant’s predictive analytics platform, while also gaining access to data on national and local healthcare trends, said Deepesh Chandra, chief analytics officer, Bon Secours Mercy. Health, in an email.
The health system’s latest investment is part of its broader push in the field of health analysis. The vendor is also a founding member of Truveta, a vendor-led data company, which recently raised $ 95 million.
“We are committed to harnessing the use of data to advance our ability to improve the health and well-being of our communities, especially the poor, dying and underserved,” said Chandra.
As part of the investment in Trilliant, Chandra will join the company’s board of directors as an observer.
Trilliant Health’s platform leverages and synthesizes first- and third-party data, providing users with a comprehensive view of market dynamics, both nationally and regionally, said Hal Andrews, president and CEO of the Brentwood-based company. , Tennessee, in an Email.
“Healthcare provision is a ‘negative sum game’ and healthcare providers are under intense pressure to increase market share and generate a return on invested capital,” he said.
The company’s platform uses advanced analytics and machine learning to provide market insights on past and present supply and demand. This allows vendors to predict future market dynamics and implement evidence-based growth strategies, he added.
Founded in 2017, the company has raised approximately $ 20 million so far.
The health analytics market is large and is expected to grow rapidly. The market value is projected to reach $ 80.2 billion in 2026, up from $ 11.5 billion in 2018. according to a recent report.
But Trilliant Health faces some massive players in the market, including McKinsey, Bain, Sg2, and the Advisory Board.
In the face of fierce competition, Trilliant can distinguish itself “by applying its unique domain expertise in healthcare delivery, consumer behavior, and advanced analytics and machine learning to create evidence-based strategies for healthcare providers,” Andrews said.
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