Avaneer Health Launches its Decentralized Network and Platform to Transform Healthcare Administration

First to Connect are CVS Health, Cleveland Clinic, Elevance Health, and Sentara Healthcare

CHICAGO, March 13, 2023 /PRNewswire/ -- Avaneer Health, a secure digital network for healthcare, today announced that it has launched its private, peer-to-peer network with several leading healthcare organizations. With a single connection to the Avaneer Network™, participants can collaborate and share real-time data, streamlining healthcare administration and enhancing the healthcare experience for all stakeholders.

For decades, the healthcare industry has been challenged with fragmented data silos, numerous point-to-point connections, layers of technology debt, incomplete information and manual processes. The Avaneer Network is building a secure healthcare data fabric to help solve for these challenges. It is the first of its kind peer-to-peer network created exclusively for healthcare to accelerate care delivery with connectivity between payers, providers and innovators to drive efficiencies, reduce costs and improve outcomes.

"When we were founded, we embraced a bold vision of a new way to enable data fluidity in healthcare, one that began in 2017 by a group of industry leaders that were committed to re-inventing healthcare from the inside out. This vision is now built and live," said Stuart Hanson, CEO of Avaneer Health. "Our secure and trusted network creates the foundation for innovation that will reimagine healthcare administration and save billions of dollars each year. It's an incredibly exciting time for Avaneer Health, our partners and the industry. We finally have the answer to reducing administrative costs while focusing on the patient and clinician experience."

Advantages of the Avaneer Health network include:

• Streamlines revenue cycle and lowers costs: With a single connection to the network, participants can collaborate and share real-time data, streamlining healthcare administration. Real-time access to data that is current and automatically updated maximizes efficiencies.
• Strengthens data security and protection: The network seeks to protect against daa breaches with a secure platform that features an immutable audit trail and is decentralized, so data remains in control of its originator.
• Empowers innovation and collaboration: Participants can subscribe to and launch innovative solutions in collaboration with payers and providers. With such close collaboration between parties, they can work together to create joint processes that are more efficient and effective.
• Improves patient experience: Streamlined processes expedite care, resulting in cohesive processes that create better patient experiences, as well as less administrative burden for payers, clinicians and provider teams.

"Joining the network and transacting differently with payers and other providers will enable healthcare organizations to improve efficiencies and automate administrative processes, resulting in an enhanced patient and clinician experience," said Sonja O'Malley, Senior Director of Innovation at Cleveland Clinic. "Another clear advantage to the network is that data is not aggregated – it remains with the originator. We look forward to seeing additional payers and providers join us on the network in the near future."

Rajeev Ronanki, Senior Vice President, Elevance Health and President, Carelon Digital Platforms explains, "Elevance Health is committed to simplifying and enhancing the healthcare experience, and joining the Avaneer Network is another step in that direction. With a decentralized design, the network enables Elevance Health to more securely collaborate with providers, payors, and other network participants as we share relevant health information on the customers we have in common. While maintaining strict data privacy, this effort can give everyone involved a more holistic view of an individual's' health, empowering more personalized, whole-health solutions that help us address healthcare's most complex challenges."

Soon the Avaneer Network will also include a real-time adjudication application, which will drastically expedite and increase the accuracy of how healthcare claims are submitted and adjudicated.

In November 2022, Avaneer Health completed a rigorous System and Organization Control (SOC 2) Type 1 examination of the platform, including the Avaneer SparkZone™ and Avaneer Collaboration Services™. Obtaining the SOC 2 Type 1 certification reinforces Avaneer Health's ongoing commitment to exemplary customer service, and to the security, availability, and processing integrity of our platform.

About Avaneer Health

Avaneer Health is a secure digital network and platform designed for healthcare to connect, collaborate and give permissioned access to data in real time, simplifying healthcare administration. Built on innovative technologies, Avaneer Health facilitates access to updated data for transparency and interoperability in healthcare through a decentralized network. Through a permissioned process, data can be shared with anyone on the network while remaining in the creator's control. First of its kind, Avaneer Health allows for true collaboration between industry stakeholders and technology vendors to launch solutions that streamline and speed administrative processes, improving the healthcare experience. Avaneer Health was founded in 2020 by a consortium of industry leaders including Aetna, a CVS Health company; Elevance Health; Cleveland Clinic; Health Care Service Corporation (HCSC), a Mutual Legal Reserve Company (HCSC); Merative; The PNC Financial Services Group, Inc.; and Sentara Healthcare. These founding members remain engaged with the company and its mission to solve inefficiencies in the healthcare industry.

For more information, visit AvaneerHealth.com and follow Avaneer Health on LinkedIn and Twitter.

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SOURCE Avaneer Health

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