Aver Inc., a Columbus, Ohio-based provider of a patented data management platform that simplifies the healthcare reimbursement process, raised $13.6m in funding.
The round was led by Heritage Group, with participation from Cardinal Health, Inc., GE Ventures, Hearst Health Ventures, and affiliates of NCT Ventures and StartUp Health. In conjunction with the funding, Rock Morphis, managing director at Heritage Group, will join Aver’s board of directors.
The company intends to use the funds to further scale operations, grow its platform capabilities and expand market share.
Founded in 2010 by President and CEO Nick Augustinos, Aver provides a suite of products that allows customers to transition from fee for service to value-based reimbursement. By analyzing vast amounts of data available in current healthcare systems, Aver packages patient care services to create bundled payments and related reports.
The Aver Cloud enables the creation, management, insight, and payment processing for fee-for-value payment programs. The company’s solutions support commercial, Medicare, and Medicaid plans as well as health care providers in managing delivery costs and reimbursement solutions.