Healthcare analytics startup founded by early Amazon employee lands $6.5M
Summary
The goal is to allow these companies to be able to analyze what is being done with the capital they spend on health plans.In the traditional model, the employer is completely cut out of all the economic transactions, founder and CEO Mike Hanlon told GeekWire. The employer is pumping money into the system, but they cant observe anything, let alone intervene.Hanlon was the seventh employee hired by Amazon, working on operations and software development from 1995 to 2001. However, that company shut down shortly after it was profiled by GeekWire in 2017, he said.One of the legal tailwinds driving Abetts business model was the passage of the 21st Century Cures Act, which restricts information-blocking by providers and carriers over consumer healthcare data. Abett is among the first wave of products that is specifically targeting this market opportunity, Hanlon said.The startup works with large employers, including multiple Fortune 10 companies. The startups data partners include CVS Pharmacy, United Healthcare and Travelers Insurance, among others.The round was led by GreatPoint Ventures.