Tuva Health, an open-source healthcare data transformation platform, announced it launched out of stealth with $5 million in seed funding. The funding round was led by Virtue, with participation from Box Group, Y Combinator, and several health tech angel investors. In an expanding market like healthcare, the growth potential is unparalleled.
Tuva Health is well-positioned for significant expansion opportunities as the demand for data-driven insights and improved cost efficiency rises. This capital will enable continued growth, investment in commercial initiatives, and accelerated product development.
The company allows payers, providers, and pharmaceutical companies to transform claims and EHR datasets into analytics-ready data tables via an open-source data model with built-in normalization, data quality testing, and enrichment. And Tuva Health’s goal is to advance high-quality healthcare analytics by making data transformation open, transparent, and customizable, ultimately accelerating the identification of novel treatment pathways and improving patient care.
Healthcare companies are desperate to make use of their data for insights. Still, they face challenges like lack of resources and budgets needed to create and implement tools that will enable them to use their data effectively. And traditional black box solutions often hinder transparency, accessibility, and control over data.
Tuva Health’s open-source platform integrates seamlessly with its customers’ data warehouses, offering organizations complete control over their data infrastructure without upfront costs. With an open, reusable standard used and created by a community of 1,500 healthcare data and analytics practitioners, Tuva Health is enabling the healthcare industry to move toward consistent, accurate analytics methods, benefiting from continuous community-driven improvements that are transparently refined and applied across datasets.
Tuva Health’s open-source platform enables customers and partners to develop new methodologies to refine the model continuously. As new methods and approaches are developed, the entire community reviews the methods for accuracy. Then as the methods are released into the open source, every customer and partner can immediately run them on their data. Leading organizations like Oscar and CareAbout Health have already integrated Tuva Health’s technology and have reduced costs and increased control and transparency over their data.
KEY QUOTES:
“Healthcare organizations have lacked a flexible, scalable, and transparent analytics solution to enhance patient outcomes and improve operational efficiency. Tuva Health’s model addresses this need, providing a comprehensive solution that meets the growing demand for innovation in healthcare. By leveraging an open-source and community-centric approach, the company is poised to lead the transformation of the healthcare analytics industry, enabling stakeholders and partners to achieve greater efficiency and improved outcomes in a transparent, trusted manner.”
- Sean Doolan, Founder and Managing Partner of Virtue
“Having worked in healthcare analytics for years, I’ve seen firsthand the challenges organizations face when trying to harness data to improve patient care and make business decisions. Tuva Health’s open data model solves the transparency issues found in other platforms and encourages collaborative analysis, allowing organizations to take control of their data. With this, we are accelerating clinical research, evidence-based decision-making, and AI advancements all while reducing costs and increasing transparency.”
- Aaron Neiderhiser, CEO and Co-Founder of Tuva Health
“True tech companies in healthcare find we are solving the same problems over and over again. We believe it is necessary for us to collaborate — creating open-source solutions and improving data interoperability to make healthcare work better. Tuva does that, and is aligned to Oscar’s vision to turn healthcare into a consumer-driven market.”
- Mario Schlosser, Co-Founder and President of Technology of Oscar Health
