Arista®, a technology-enabled service company providing eConsults and a suite of related expert referral support tools, today announced the completion of $11 million in financing. The Series A round was led by Avalon Ventures with the participation of Correlation Ventures. The proceeds will be used to accelerate the commercialization and further enhance the functionality of the proprietary Referral Intelligence Platform.
As many as 60 per cent of specialist visits are routine consultations that do not require an in-person visit. 1.2 Unnecessary care costs $10 billion annually, causes delays in care planning and exacerbates access challenges for the most vulnerable patients. 3 The Arista® Referral Intelligence Platform is designed to significantly reduce these costs and improve access to specialized care by facilitating rapid collaboration between primary care providers and specialists. The Referral Intelligence Platform includes a two-part process consisting of comprehensive referral work-up checklists licensed exclusively from the University of California, San Francisco (UCSF) and a simple, effective electronic consulting (eConsult) platform. The Arista® solution has been shown to reduce overall specialist visits by 30% or more while also reducing ER visits and hospital admissions.
‘We are delighted that Avalon and Correlation share our vision to provide a solution that optimizes referrals in today’s value-based healthcare era,’ said Rebecca Cofinas, President and CEO of Arista®. ‘The proven track record of our investors’ success in building transformational companies is instrumental to our continued growth and success. ”
Arista® clients range from small rural providers to large county health systems in urban environments. The Referral Intelligence Platform has been designed to be flexible to fit the workflow, technology and clinical needs of each individual client.
‘The Arista® platform is the most comprehensive solution on the market,’ Cofinas said. ‘Our platform saves the average provider years of precious time and resources by providing a strong foundation that can still be tailored to each unique environment. ”
‘Referrals to medical specialists have almost doubled over the last decade, and this figure is set to double again over the next five years,’ said Jay Lichter, Ph.D. D. D. Managing Director at Avalon Ventures and Chairman of the Board at Arista® ‘The Arista® Referral Intelligence Platform is a unique and innovative solution to improve appropriate patient access and significantly reduce costs. We are pleased to support Arista®’s top-notch team as they continue their drive to the next level of growth and commercial success. ”
About the MD Arista
Arista® is a digital healthcare company focused on helping primary care providers to provide enhanced specialty care through high-impact tools and solutions to reduce unnecessary referrals. Designed by practicing physicians, the Arista® Referral Intelligence Platform combines clinical guidance developed at UCSF, specialized eConsults, and robust data collection and reporting into an easy-to-use software platform that is interoperable with core EMRs. Arista® partners with clients to use the company’s platform for their own specialists or to provide eConsults directly through its comprehensive panel of board-certified experts. Arista® is at the forefront of designing exceptional tools to enable physicians to collaborate, promote efficiency and optimal clinical care.
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