Recently, Apixio, a new star in the field of medical big data , received US$19.3 million in funding for the new round of Round D financing. Apixio aims to provide a big data analysis platform for medical institutions to facilitate more accurate medical treatment. The investment institutions for this round of financing were led by SSM Partners, and First Analysis and Bain Capital Ventures followed suit. As of now, Apixio has invested a total of 41.88 million US dollars.
Apixio uses cognitive analysis to process data, and the platform manages for chronic diseases.
In 2009, Apixio was founded in San Mateo, Calif., and its medical big data analytics platform called HCC Profiler uses unstructured data to analyze and predict the health of patients. The platform is designed to analyze chronic diseases. At the same time, the company has developed a new platform called Apixio Iris, which is backed by a larger database. Apixio CEO Darren Schulte said that the funds from the D round of financing will be used to improve the analytical accuracy of the existing platform and develop a health management APP.
Apixio's investment and financing situation list
Apixio's platform is built using cognitive analysis for data processing. Data analysis can be divided into four phases, namely descriptive analysis, predictive analysis, mandatory analysis and cognitive analysis. Descriptive analysis is the analysis of past results from historical transaction data. Predictive analysis predicts the future through existing data. Instructional analysis uses the analysis results to guide behavior based on the analysis of the past and the prediction of the future. Descriptive analysis, predictive analysis, and instructional analysis are all static analyses. In the ever-changing era of big data, a lot of valuable data resources are generated every day, and data analysis also enters a new stage of cognitive analysis. Cognitive analysis is the process of gradually increasing the analytical ability and gradually improving the cognitive process through interactive learning. Cognitive analysis is a new stage in the evolution of data analysis.
Big data creates high added value for the medical field, and a large number of medical records are yet to be developed and utilized.
In 2014, IBM launched the big data analytics platform Watson Foundations, which uses cognitive analysis to work. In recent years, various industries have produced massive amounts of data, and the medical industry needs to analyze and process data, and use the results of the analysis for medical services. In recent years, many countries have been actively promoting the development of medical informatization , and many medical institutions have funds for big data analysis. Apixio CEO Darren Schulte said: "There are a lot of emerging technologies in the medical field today, but 80% of medical records have not been developed and utilized."
In its report, McKinsey pointed out that big data analysis can help the US medical service industry create an added value of 300 billion US dollars each year. If the big data of clinical operation direction can be fully adopted, the national medical health expenditure can be reduced by 16.5 billion US dollars per year. IDC International Data predicts that by 2018, about one-third of health management systems will use cognitive analysis to obtain results from patient data to help patients achieve personalized treatment options.
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