While there are many different things that make human beings special, it’s hard for us to find anything more significant than our solution-oriented tendencies. You see, when an individual is able to find a way through every situation, they eventually steer themselves towards some notable milestones along the way. Talk about these milestones, each one, so far, has done a lot in making us better over time. However, the only one that had the prowess to reimagine human life from scratch was technology. Technology’s emergence was such a pivotal moment in our history, considering it didn’t just help us in conceiving solutions on a rather consistent basis, but it also simultaneously scaled up the quality of the said solutions, therefore unlocking many new horizons. Now, when you have a progressive dynamic like this running the show, some beneficiaries are always going to emerge. As an example, we’ll dig into our healthcare sector and everything technology did for facilitating its transition. In fact, if we assess healthcare’s outdated state before the creation’s takeover, we will also notice how the linkup couldn’t have happened at a better time. Nevertheless, even after giving us a completely different identity, it will continue to deliver the right goods, and a recent funding should only further that pattern.
Socially Determined, a healthcare analytics startup focused on SDOH insights, has successfully raised over $26 million in Series B financing. Led by Questa Capital, the round saw many other investors, including LRVHealth, OSF Healthcare, Ziegler Link-Age Funds, and HealthWorx, the investment arm of CareFirst BlueCross BlueShield, throwing their hat in the ring. According to certain reports, Socially Determined will use the newly-raised cash to expand its customer base, which currently stretches across entities like health plans, health systems, and life sciences organizations. Since starting out in 2017, the company has been trying to navigate through the limitations that we usually associate with SDOH (social determinants of health) and its impact on community. The company would do using extensive datasets that are updated continuously so to keep them relevant for long stretches. These datasets, in turn, are known to revolve around several valuable elements such as transportation access, reliable housing, food insecurity and social connectedness. In case the innate technology wasn’t enough, Socially Determined’s software is also designed to provide comprehensible social risk scores, therefore making the result much easier to understand.
“Through our work with clients like CareFirst BlueCross BlueShield and AmeriHealth, we’ve proven that our approach works and can make a real impact,” said Trenor Williams, founder of Socially Determined. “Because of the value we’ve shown, clients are expanding the length and scope of their contracts and we’re now in a position to bring our unique solutions to additional organizations across the healthcare ecosystem.”
