Analytics Healthcare Startup Company Truveta Wants to Make Data Its Main Focus

By Elijah Labby Saturday, February 27, 2021

Too many major health decisions in the United States (US) are built upon unquantifiable personal experiences, but a new healthcare analytics startup company called Truveta wants to change that by focusing on patient data.

Truveta, which joined the startup healthcare business as recently as 2018, partners with just over a dozen sources of anonymized data. The idea is to pull from a wide pool of healthcare data, which will be sorted and distributed by Truveta’s analytics findings.

The aim of the healthcare startup company is to make healthcare treatment decisions based less upon anecdotal experience and more on hard facts through the use of data analytics.

A doctor's desk with a stethoscope and a tablet.

The Necessity of Truveta

The healthcare startup company wrote in a blog post that, as the COVID-19 pandemic ravaged the world, it became clear that patients needed a healthcare business like Truveta.

“As the COVID-19 pandemic began ravaging our country and our world, families struggled to safely protect each other with well-intended, but conflicting guidance,” the post reads. “Physicians struggled to learn how to treat this virus as hundreds of thousands died. Life science companies struggled to staff clinical trials with enough diverse participants to effectively test and garner approval of life-saving vaccines. The world needed faster answers, clearer guidance, and the opportunity to learn from each other. It became clear – the world needed Truveta.”

What’s more, Chief Executive Officer of the healthcare startup company, Terry Myerson, wrote that there is a woeful lack of usage for healthcare data that is already ready to go.

“Health care is at a pivotal moment, where more data is available than ever before. The amount of health data has grown dramatically over the last several years,” he wrote in a blog post on the website for the healthcare startup business. “This year, as much as 2,314 exabytes of new data will be generated – a dramatic growth from the 153 exabytes generated in 2013.”

The Market for Truveta

The healthcare analytics business is a valuable one that could be very hospitable to a startup company like Myerson’s.

The healthcare analytics business is growing at a compound annual growth rate of 23.55% — a stellar figure that bodes well for a healthcare startup company like Truveta, all things considered — and is expected to reach a valuation of $40.8 billion by 2025.

As you may have anticipated, COVID-19 is a big reason for the rapid growth of the healthcare analytics business and the opportunities presented for a startup company like Truveta. Myerson recognizes this and says that he wants to use his healthcare startup company to make a difference.

“We imagine this potential. We want to build Truveta for everyone in the world to lead a healthier and happier life. In a decade, when we look back at the crazy year that was 2020, we hope Truveta will be one of the world-changing innovations inspired by this challenging chapter in our history,” he wrote.

About the Author

Headshot of Elijah Labby

Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.

Related Articles