Particle’s Series A
The world looks very different than it did 2 months ago. Even before COVID, the government made a huge push to open data sharing in healthcare. In fact, Trump was slated to speak at HIMSS to publicly announce the passing of Anti-Information Blocking. That law did, in fact, pass only to be shadowed by the unprecedented tsunami wave of media attention that the Coronavirus received.
What we’re seeing in healthcare is the straw breaking the camel’s back.
All of a sudden, some of the most stubborn roadblocks holding healthcare data sharing back dissipated. Epic — the biggest voice against Anti-Information Blocking — has since flipped and has become publicly supportive. Costs, business misalignments and ancient regulation shrunk as access to medical care took front and center. We’re living in a different world and we’re not going back.
At Particle Health, we’ve looked at other industries since day one to consider how data flows (for example banking) and how it could translate to healthcare. A simple model in almost every category was incredibly apparent: the aggregation of a fragmented system, the developer as the end-user (the data must be clean & actionable!) and security/privacy by design. And so, thanks to TEFCA and groups like CommonWell & Carequality, we were able to build an API simple enough that our customers were conducting thousands of successful transactions in hours of using our platform and signing one Agreement. When we launched in January, we started seeing a >83% success rate (or hit rate) - the ‘access-to-data’ piece of the problem was starting to dissipate. Now, 1.4 million records later, we’re starting to really move the needle.
In a time when legislation is demanding patients have more rights to their data and a global pandemic urges our healthcare system to figure out better ways to treat remotely, digitally, and at massive scale, Particle is uniquely positioned to actually make a difference in the world. We’ve opened our API up at no cost to any organization needing medical records to fight COVID. We’ve focused on building an API that just needs patient demographics to search the country for their records and we’ve built it with patient consent/authorization at its core.
Email us at Go@ParticleHealth.com to learn more about Particle & plug into our API.
With our Series A fundraise behind us, we now have the fuel to build a bigger team of rockstars, partner with more data sources — like claims, lab and provider data — and to build the best in class developer experience possible. We’re moving towards HITRUST certification, we’re rolling out data transformation pipelines and we’re beginning work on SDKs and Data Products that make our data actionable and easy to implement.
In a world where people want better access to more affordable care, during a global health crisis, we hope Particle can be an important piece of that puzzle. Our whole team shares a vision where groundbreaking new innovations can safely access medical data and transform the way we live our lives — we can’t wait to make that vision a reality across the US.
Thank you everyone that’s helped us so far (particularly Menlo Ventures, Collaborative Fund, Company Ventures, the data-centric Story Ventures, Chris Bradley, Elliot Cohen, Polina Hanin and many others). We are so excited to accelerate the development of our solution and fix this core issue that has plagued healthcare - once and for all.
