Health data management company Explorys has received a 60 percent, seven-year tax credit from the state of Ohio.
In exchange for the credit, Cleveland-based Explorys is expected to create 165 jobs and retain 35 positions, according to the Ohio Department of Development. Explorys’ employment expansion is expected to create $13.3 million in additional payroll.
CEO Steve McHale was traveling and said he didn’t have any further information when reached by email.
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The state of Ohio is no longer publicly releasing an estimated dollar value of the tax credits it issues, according to the Department of Development.
Explorys has started what it calls a Google-like service that helps clinicians analyze in real-time information culled from troves of EMRs, financial records and other data . The idea is that medical researchers can mine the vast amounts of data to learn how variations in treatment can affect outcomes, uncovering best practices to enhance patient care and lower costs.
The company’s technology was developed by a physician formerly at the Cleveland Clinic, which is an Explorys investor.
Explorys is among the leaders of the “big data” movement in healthcare, which is hoped to improve cost and quality by helping clinicians gain insights into effective treatment options through the analysis of vast amounts of patient and payer data.
Photo from flickr user DonkeyHotey
