Peoria, Ill.-based OSF HealthCare’s venture arm participated in a $7.3 million funding round for Socially Determined, a startup using data analytics to identify patients in need of social services and other resources, OSF Ventures announced Oct. 28.
Socially Determined’s analytics and machine learning tools are fed commercial and government data and information from insurers and health systems. Using this social determinants of health data, the startup can not only better target existing interventions, but will also eventually be able to predict those socially vulnerable patients most in need of preemptive interventions, according to Sarah de Ramirez, OSF HealthCare’s vice president and CMO for clinical innovation.
“Our investment strategy is to always look at ways to reduce costs and improve patient outcomes,” Stan Lynall, vice president for OSF Venture Investments, said in the announcement. “Socially Determined will let us connect nontraditional data with our clinical data for our patients to identify the risks they face outside of our hospitals and medical offices. That will enhance our efforts to develop strategies with community partners to intervene and impact overall health and wellness.”
Source: OSF Ventures invests in healthcare data analytics startup
