Insightin Health, a company delivering personalized health care guidance, today announced it has raised $12 million. A spokesperson told VentureBeat the round will support Insightin Health’s plan to bring on more plan providers that service primarily Medicare, Medicaid, and accountable care organization members.
The global big data analytics market for health care was valued at $16.87 billion in 2017 and is projected to reach $67.82 billion by 2025, according to a recent report from Allied Market Research. It’s believed that health care organizations’ implementation of big data analytics might lead to an over 25% reduction in annual costs in the coming years. Better diagnosis and disease predictions, enabled by AI and analytics, can lead to cost reduction by decreasing hospital readmission rates, among other factors.