A few weeks ago, TechCrunch caught up with Terry Myerson and others from the Truveta team to discuss a major product update for the company. This post has covered Truveta for some timeCurious about his goals as a company that has a strong public health component, and because Myerson was a long-time Microsoft resident that we were familiar with from covering Windows for years and years.
Our interest was also piqued at the end of last year when Truveta raised $100 million, just over double its capital base. With about $200 million in backingTruveta had a list of people we were familiar with and enough cash to carry out whatever she was dreaming of.
Truveta’s concept is simple: work with different health care groups to collect anonymous patient data, aggregate the information, and make it available to third parties so they can see what’s really happening in terms of patient outcomes in a broader sense. holistic The potential commercial and public health applications are reasonably self-evident, but what surprised her scribe when she spoke with Myerson and the team was that this kind of aggregated database of depersonalized information did not yet exist.
While having a public-private healthcare system has some advantages, centralized data apparently isn’t one of them.
Back to recent: Truveta has expanded the list of health systems contributing to its data set from a handful towards the end of 2021 to 25 today. More data is good when it comes to this kind of “health care analytics” work, so the additional 11 providers are important.
But most notably, Truveta’s software product launched earlier this month. In 2021, the company caused a bit of a stir when it launched a COVID-focused product. Now Truveta Studio came out and I got a tour.
One thing Truveta has to deal with is harmonizing information from disparate systems. This is something you’re addressing, allowing users to configure definitions in a computable format and then collect results and graph them. The resulting wall of charts and graphs is exciting to watch if you, like me, are a huge data visualization idiot.
The service is not something, in my run, that anyone with a passing interest in health care outcomes can use. But for an expert, it might be worth it: our tour guide explained that, in his previous research environment, he would spend weeks executing what he can do in minutes with Truveta. That’s more than an order of magnitude of time saved. As long as the service is easy enough for professionals to use, the company could be right.
The question now is how many people (customers) want to use it. Truveta’s early goals (establish data ingestion, raise money, build a team, and then a product for regular use) have been met. Now we are in the business of effort brass tacks. And there are nine figures of capital bet that he will achieve it.
Since health care in the United States is exorbitantly expensive, opaque, and fraught with inequitable outcomes, people who work to make it a little less impossible to analyze are fine with me.