Sunday, April 21, 2024

Data exchange company Moxe Health secures $25M -Dlight News

Healthcare data exchange startup Moxe Health raised $25 million in growth capital from Trinity Capital.

WHAT IT DOES

The company offers payers and providers tools for sharing patient health record information. Moxe’s convergence product allows payers to input their insights into the EHR for providers.

For providers specifically, the company offers its digital release of information product, which automates requests for medical charts, and payers can access a chart retrieval tool. 

The company will use the investment to continue to scale its operations. 

“Moxe’s innovative technology has the potential to revolutionize the way data is exchanged by the healthcare system,” Lauren Cosentino, managing director of life sciences at Trinity, said in a statement. “We look forward to partnering with Moxe’s leadership team and supporting the company’s continued growth.”

MARKET SNAPSHOT

In 2022, the digital health information exchange platform secured $30 million in a Series B funding round led by Piper Sandler Merchant Banking and Vensana Capital, with participation from existing investors.

At the time, the company said it planned to use the investment to expand its team and advance its data exchange technology.

Interoperability in healthcare is a big topic of discussion, with some experts noting some milestones are being reached, including the FHIR at Scale Taskforce (FAST) initiative identifying Fast Healthcare Interoperability Resources (FHIR). 

Another company focused on interoperability is the startup Avaneer, which offers a network using blockchain and FHIR technologies to allow for secure data exchange between healthcare organizations. 

Microsoft Cloud for Healthcare expanded its API services for healthcare in 2021. Azure Healthcare APIs allow users to input health data and map it with FHIR, allowing it to be more easily searched and shared.

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