Avhana Health, a Baltimore-based health IT startup from the DreamIT Health accelerator, has raised nearly $750,000 of seed funding, according to a filing with the SEC.
Avhana, launched in early 2014 by brothers Nate and Noah Weiner, seeks to help physicians and hospitals with new quality metrics from Medicare, which determine billions of dollars in reimbursements. The startup uses a cloud-based platform that is says integrates the new metrics into “patient-specific checklists.”
Currently, the nation’s 6,400-plus hospitals capture less than 70 percent of their potential reimbursements under incentive payments because of improper documentation or implementation of best practices, according to Avhana.
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The Smith brothers founded the company after working for Johns Hopkins as EMR analysts, engineers and health outcome researchers. Avhena health is a graduate of the DreamIT accelerator in Baltimore, sponsored by Johns Hopkins, Kaiser Permanente and Northup Grumman.
Avhana has raised $660,000 so far through the sale of debt, with another $90,000 remaining to be sold, according to the From D. It was started with a $100,000 two-round investment from DreamIT in January 2014.
