BlueCross BlueShield's venture arm leads $7.5M round for Oncology Analytics

BlueCross BlueShield’s venture arm leads $7.5M round for Oncology Analytics

Oncology Analytics' aims to improve affordability is a clear reason why an insurer like BlueCross BlueShield is investing in the startup - as cancer drug costs skyrocket, payers are looking for ways to mitigate the disease's impact on their bottom line.

By Meghana Keshavan on March 08, 2016

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Florida cancer management startup Oncology Analytics just closed a $7.5 million investment round, led by BlueCross BlueShield Venture Partners.

The startup’s software links physicians that treat cancer patients with information that’s meant to assure them that they’re providing the best possible care. The decision support service is meant to help doctors give patients effective, minimally toxic and affordable regimens.

This affordability factor is a clear reason why an insurer like BlueCross BlueShield is investing in the startup – as cancer drug costs skyrocket, payers are looking for ways to mitigate the disease’s impact on their bottom line. Software solutions like Oncology Analytics’ could prove an efficient first step. Notably, Oncology Analytics is being used by Humana as well.

Chicago venture firm Sandbox Industries, which is has an exclusive partnership to help manage the venture fund of BlueCross BlueShield, participated in the round as well.