Data analytics company Health Catalyst received $70 million in new venture capital funding from major names in healthcare, such as Oakland, Calif.-based Kaiser Permanente and Boston-based Partners HealthCare.
Health Catalyst, a startup based in Salt Lake City, has accumulated approximately $170 million in venture capital funding to date. The company creates data warehouses for clinics and hospitals through the organizations' EHR systems, intending to improve outcomes and reduce waste, according to Venture Beat.
The company plans to use the additional funding to expand the capabilities of its analytics platform, which provides population health, data mining, predictive analytics and workflow analysis, according to the company's website. Health Catalyst currently has contracts with 200 hospitals and 2,000 clinics, including Kaiser Permanente and Partners HealthCare, according to the report.
Data analytics is a growing trend in healthcare. Two of three healthcare decision makers said analytics was among their top priorities for 2015, according to a CDW Healthcare survey. Analytics are intended to improve patient outcomes, a rumored target for CMS' meaningful use Stage 3 requirements.