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Apixio’s $19.3m Series D round highlights the potential of Big Data in healthcare

What with the Affordable Care Act making health insurance more widely available, healthcare providers and other medical organizations are under growing pressure to accurately predict the costs of patient care. Apixio Inc., a San Mateo, Calif.-based data science company, is hoping to help healthcare providers do just that. The six-year old startup offers a cognitive computing solution called the “HCC profiler” that helps healthcare providers better understand their patient’s chronic medical conditions, in order to better optimize their care. HCC profiler works the way all the best Big Data platforms do, by analyzing reams of unstructured medical data, including existing clinical records and doctor’s notes, in order to provide healthcare organizations wit the insights they need to accurately estimate patient risk. In turn, healthcare providers can bill their patients more accurately and also deliver more effective medical treatments.

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