US healthcare and technology company Curisium has recently raised $3.5mn in seed funding to advance its healthcare blockchain-based platform. Providing personalised, tailored solutions for payers, providers, and life science companies to enable them to enter into patient-centric, secure and efficient innovative contracting arrangements.
Investors include Flare Capital Partners, New Enterprise Associates (NEA), Shuttle Fund, Sanofi Ventures, and Green Bay Ventures. Bill Geary of Flare Capital and Mohamad Makhzoumi of NEA have also joined Curisium’s Board of Directors, with Ruchita Sinha of Sanofi Ventures appointed a Board Observer.
The use of blockchain technology within the healthcare industry is set to accelerate in 2018, due to advantages in cyber-security and its ability to support the growth of electronic health records on a global scale and guarantee quality patient care. Up to a third of payments in the $3trn US healthcare market are attached to an innovative payment model.
"Payers, providers, and life science companies are increasingly entering into various forms of innovative contracts," explained Peter Kim, co-founder and CEO of Curisium.
"However, effective implementation today is hampered by costly logistics, lack of trust, and difficulty verifying patient-level outcomes."
Focused on early stage and emerging growth investments in healthcare technology, Flare Capital’s co-founder Bill Geary added: "By enabling outcome verification at the patient level, while automating the payment side, Curisium has the potential to rapidly accelerate the breadth and depth of innovative contracting arrangements.”
The use of blockchain will therefore help create a centralised, integral platform, connecting healthcare providers and eliminating any silos in the delivery of patient care. The sharing of patient data will have a significant audit trail, whilst adhering to the highest levels of cyber-security.