Atlanta-based has closed on a $21 million Series B funding round led by .
New investor , along with returning investors and Advantage Fund, also participated in the 鈥渙versubscribed鈥 financing. Combined with a 聽in March 2016, the company has raised a total of $28.5 million.
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Per its 附近上门 profile, Oncology Analytics 鈥減rovides health plans with an evidence-based, technologically driven approach to utilization management, which is purpose-built for oncology.鈥
The Oncology Analytics e-Prior Authorization platform is used by physicians to support over 3.5 million health plan members in the US and Puerto Rico, according to the company. Oncology Analytics says it updates its platform 鈥渄aily鈥 to reflect more than 6,000 oncology treatment protocols for anti-cancer treatment across all cancer types and stages, including chemotherapy, radiation therapy, precision medicine, targeted therapy, and supportive care.
In a press release, Oncology Analytics said it planned to use the new capital toward expanding its oncology benefits management capabilities and accelerating strategic investments in data analytics, data science, and innovative digital health technologies.聽
鈥淲ith no end in sight to the rising costs and complexity of cancer treatment options 鈥 the oncology benefits management industry is in desperate need of both innovation and disruption,鈥, managing partner of Oak HC/FT, said in a written statement. 聽鈥淥ncology Analytics has the strategy, leadership team and passion to improve the delivery of cancer care. This is a company that truly embodies what it means to put the patient 鈥榝irst.鈥 Oak HC/FT is proud to help support this mission.鈥 聽
Dr. , who is joining Oncology Analytics’ board of directors, noted that over-utilization of health care was 鈥渃rippling鈥 the U.S. health system and leading to many cancer patients not getting the 鈥渙ptimal鈥 treatment for their disease.
鈥淚mproved outcomes are possible when treatment options are tailored to a patient鈥檚 specific cancer genetic profile,鈥 he said in a written statement. 鈥淕etting the best treatment to patients is at the heart of Oncology Analytics strategy and is deeply aligned to the future of cancer care.鈥
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