At Canvas, we believe that simplifying access to patient health data is foundational to the development and delivery of next-gen healthcare solutions.
But it’s not actually so simple. Today, payors, providers, pharmacies, and labs are just some of the entities serving 300m+ Americans’ healthcare needs. A single patient’s medical record is owned and operated by myriad different companies, and this fragmentation creates challenges for both practitioners and patients alike.
Particle Health is a new healthcare data platform bringing transparency to the healthcare industry by standardizing vital medical data and providing easy API-based access to consolidated records.
The result? Infrastructure that enables better patient care at lower costs.
I’m so proud to have Canvas lead Particle’s $25M Series B.
The moment is now
Healthcare spending in the US will continue its hot streak through the next decade as we reach the peak of the baby-boomer retirement cycle by the end of 2029, according to the Pew Research Center. Recent changes in legislation, including new rules and regulations like Anti-Information Blocking and TEFCA (Trusted Exchange Framework and Common Agreement), have opened access to over 300M people’s medical records.
Particle Health has been building its platform for precisely this moment, as it combines data from 270 million-plus patients’ medical records by aggregating and unifying healthcare records from thousands of sources. The changes in legislation allow Particle to continue adding to its database, creating the fullest picture yet of a patient’s medical records.
A Technology Platform for Healthcare
Through the Particle API, businesses can aggregate healthcare records from thousands of sources. The platform then standardizes the data to FHIR R4 (Fast Health Interoperability Resources), the newest generation of the electronic health record exchange, to ensure that they are usable at scale. On average, per each patient search, Particle pulls 105 records and delivers a 90% success rate. That success can lead to real health outcomes. Pulling accurate data can help us understand critical health trends, prevent disease, and even accelerate the development of life-saving medicine.
The need for improved accessibility to core health data to inform better medical decisions is not new, but advances in regulation and tech are catching up with our ambitions. I invested in Practice Fusion (acquired by Allscripts) in 2009. At time of acquisition, Practice Fusion had a dataset of 81 million patient records. However, the lack of AI technology and market regulations got in the way of what we were trying to build.
A leader with deep knowledge of the healthcare industry
Having gone to med school and worked as an EMT, Founder and CEO Troy Bannister knows firsthand the complex barrier to entry that comes with working in healthcare. He has been engineering a team of engineers, for engineers. The Particle Health executive team brings years of knowledge from the complex worlds of data and healthcare, from VP of Engineering Dave Hauenstein (Better) to VP of Product Paul Robbins (Quartet Health) to Chief Revenue Officer Steve Swank (Datavant) and VP of Customer Success Mara Kaufman (Doctor.com).
Troy and the team have spent the last four years building connections to data sources across the healthcare ecosystem, converting that data into actionable formats for developers and are now embarking on the next critical step-- developing insights to better inform patient care.
Currently, Particle helps treatment providers access data. Providers are onboarding countless new patients, organizing records, and keeping patients out of the hospital with the help of Particle’s platform. In the coming year, direct patient access to data will also be possible through Particle’s API. The team already has additional technology solutions underway, including tools for current partners, such as Strive Health, Cureatr, and Invitae, that are sure to make a big splash.
Find out how you can partner with Particle Health here.