A “big data” health IT startup that aims to help hospitals better analyze large amounts of disparate data is looking to raise $3 million, according to a regulatory document.
Health Care DataWorks was founded on technology developed at Ohio State University. The Columbus, Ohio company’s enterprise data warehouse provides a pre-built model to organize the massive amounts of data — financial, clinical, administrative and research — flowing through a hospital.
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The advantage for hospitals is that it saves them the substantial time, expense and effort required to build their own data warehouse. Health Care DataWorks’ package also comes with dashboards and reporting tools to help hospital executives analyze the data.
The company declined to comment on its fundraising plans.
Health Care DataWorks is hoping it can be one of the companies to capitalize on the big data trend that advocates say could transform healthcare. “Big Data will become a key basis of competition, underpinning new waves of productivity growth, innovation and consumer surplus,” consulting firm McKinsey said in a report last year.
The company’s clients include Nationwide Children’s Hospital, Orlando Health, Essentia Health and the Children’s Medical Center of Dallas.
