Avant-garde Health will use the funding led by Fulcrum Equity Partners to more than double its team this year, and further accelerate its mission of advancing knowledge around improving health care delivery.
Today, Avant-garde Health, announces the release of its CareMeasurement analytics platform across all surgical and procedure-based care areas, and $12M in Series A funding.
After seven years of development and close collaboration with its clients, Avant-garde has now completed rolling out its CareMeasurement analytics software across all surgical and procedure-based care areas. Avant-garde built its CareMeasurement software clinical area by clinical area (e.g. beginning first with joint replacements in 2015) to make sure it resonates with physicians given the complexity of care choices in each clinical area.
CareMeasurement provides comprehensive insights into surgical care to hospitals, surgery centers, and physicians. The software measures the true costs of care processes, analyzes multiple types of clinical outcomes, compares treatment-specific data, and provides benchmarks from other hospitals across the country to give health care providers actionable insights to improve their care. For instance, Avant-garde will surface how to improve operating room efficiency, the selection and cost of medical supplies, and the care processes to follow to discharge patients home safely on time.
“We have been working with Avant-garde since 2016 and there is no other company like them that I have seen with their ability to robustly examine our care delivery and identify how we can continue to do better in a way that resonates with our surgeons. Their attention to detail and commitment to squeezing every bit of health care value is incomparable,” says Dr. Steven Schutzer, Physician Executive for the Orthopedic Service Line at Trinity Health of New England.
Avant-garde Health’s CEO, Derek Haas, founded the business based on his work with Professors Michael Porter and Robert Kaplan at Harvard Business School around value-based health care. “It was clear health care providers needed better analytics to inform their care, which I also saw through the experiences of my family—my parents, brother and sister are all physicians. We are now working with dozens of hospitals across the country. The Series A funding will enable us to empower even more health care providers with the best possible care improvement analytics,” said Derek Haas.
Avant-garde will also use the funding to more than double its team this year, and further accelerate its mission of advancing knowledge around improving health care delivery. The team has published dozens of articles across Harvard Business Review, The New England Journal of Medicine, JAMA, and other medical journals.
The Series A funding is led by Fulcrum Equity Partners. Prior investors General Catalyst, Founder Collective, and Tectonic Ventures also participated, as did Sparta Group, and former health system and physician group CEOs. “We knew that Avant-garde’s software was unique and powerful, and now being able to improve all surgical care is an incredibly important milestone. The amazing culture of the team also really shines through for us,” said Fulcrum Partner Philip Lewis.
About Avant-garde Health
Avant-garde Health is building a national network of leading health care providers committed to improving the value of their care. Avant-garde Health enables health care providers to understand their costs, outcomes and processes across the care continuum, and then achieve improvements. Its analytics platform measures the true costs of care processes, analyzes multiple types of clinical outcomes, compares treatment-specific data, and provides benchmarks from other hospitals across the country to give health care providers actionable insights to improve their care.
Learn more at http://www.avantgardehealth.com.
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $600 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum’s initial target investment is $5 million – $25 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity, and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum’s target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum’s limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies.
Learn more at http://www.fulcrumep.com
