TriHealix, a Norwalk, Conn.-based developer of technology for streamlining healthcare payments and consumer account settlements, has raised $7 million in Series C funding. Lemhi Ventures led the round.
TriHealix, a developer of innovative technology to streamline healthcare payments and consumer account settlements, has secured $7 Million in Series C financing. The funds will support the continued development and deployment of its patent-pending Multi-Authorization Processing (MAP) technology and proprietary integrated transaction processing platform.
Lemhi Ventures (www.lemhiventures.com), a Minneapolis-based venture capital firm, led the financing. “Lemhi Ventures invests in companies that bring disruptive change to the healthcare services industry,“ said Randy Schmidt, Lemhi Ventures Venture Partner and a member of the TriHealix board of directors. “We believe TriHealix is poised to re-invent the healthcare payments business and become one of those companies.“
Funds raised through this financing will allow TriHealix to build out its provider and payor solutions. The company is actively marketing its products and services to providers, health plans, third party administrators and financial services firms. TriHealix technology significantly reduces administrative costs, enhances connectivity, accelerates payments and provides superior reporting and business intelligence.
“We understand the dynamic relationships between providers, payors and third-party financial administrators, and we've developed our product platform to better connect them. The response from national and regional health plans, financial account administrators and provider organizations has been very enthusiastic,“ said Gregory Morris, co-founder, President and CEO, TriHealix. “Our unique business model eliminates much of the administrative friction within the healthcare space and builds more efficient and effective connectivity between all parties to a healthcare transaction.“
TriHealix provides an integrated healthcare and financial transaction platform designed to administer complex health insurance products and streamline the settlement process between payors and providers, including dental, medical, pharmacy, and vision practitioners. The TriHealix Multi-Authorization Processing platform enables simultaneous, electronic communication and data sharing by all parties to a healthcare transaction