Covera Health, a provider of analytics-based programs for reducing medical misdiagnoses and the improved quality of care, announced it raised $8.5 million in Series A funding. This round of funding was led by Equity Group Investments — which is a private investment firm led by Sam Zell. Select strategic and individual investors also participated in this round.
Covera Health utilizes advanced data analytics to build Radiology Centers of Excellence Programs for employers, health plans, and healthcare entities in order to reduce the misdiagnoses, reduce medical costs, and improve patient outcomes.
“An accurate diagnosis is fundamentally important for formulating the right treatment plan. That is why we started in radiology. All too often, patients are misdiagnosed at this pivotal juncture in their care, hindering their ability to get better,” said Covera Health CEO Ron Vianu. “Our approach to improving outcomes is premised upon partnering with providers to better understand how to measure and deliver quality care, ensuring each and every patient has the best opportunity for recovery.”
With this funding round, Covera Health plans to deepen existing clinical partnerships and invest heavily in its research and development efforts especially around quality analytics and to establish new relationships with various clinical and data partners.
Plus, Covera Health is planning to use the funding to support several growth initiatives, accelerate product development, and to further build its data science, engineering, and sales teams. Covera Health’s solution has been deployed in nearly every state across the U.S. and is used by more than one million covered lives.
