Annual Ranking Recognizes the Most Innovative Digital Health Startups
axialHealthcare has been named to the 2020 CB Insights Digital Health 150 ranking, which highlights the world’s most promising startups that are reimagining the lines of the traditional healthcare experience across 12 categories. Countries represented this year include Canada, China, Israel, France, the United Kingdom, and the United States, among others.
“We’re honored to be recognized as a CB Insights Digital Health 150 company for our work connecting the traditionally siloed substance use treatment and recovery ecosystem,” said Carter Paine, Chief Executive Officer at axialHealthcare. “There is a significant need to incorporate accessible, high-quality behavioral healthcare into a patient’s overall care plan, especially in today’s landscape. Drive to address this need for our health plan partners, we developed an end-to-end platform that delivers personalized solutions and better health outcomes from risk to recovery.”
Through an evidence-based approach, the CB Insights research team selected the Digital Health 150 from hundreds of applications based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
“This year’s Digital Health 150 is our most global ever, covering the best private healthcare companies from 17 countries. Beyond geographic diversity, these companies are innovating across the entire healthcare value chain, spanning technologies that benefit pharma and biotech companies, to payers, hospitals, insurers, and more,” said CB Insights CEO Anand Sanwal. “Last year’s Digital Health 150 winners saw numerous exits and went on to raise nearly $5 billion in investor financing after being recognized. We look forward to seeing the success of this year’s class of the best in digital health.”
The opioid epidemic in the U.S. is evolving. New legislation and stricter prescription guidelines helped curb overprescribing however, the U.S. still prescribes and consumes 80 percent of the world’s opioid supply. As opioid scripts declined, opioid-related overdose deaths have skyrocketed as individuals have turned to black market drugs. Compounding the issue, access and adherence to substance use disorder treatment remain low due to a fractured treatment system. To address this challenge, axialHealthcare offers health plans a comprehensive risk-to-recovery substance use management platform that connects ecosystem stakeholders at every stage to identify patients at risk, prevent escalation in their condition, and support treatment enrollment and adherence.