The rockstar team over at Providence’s Digital Innovation Group officially spun out its fourth digital health startup: Praia Health.
Praia Health is making its grand debut armed with $20M in Series A funding to help hospitals avoid the commoditized care caravan by building deeper relationships with their patients.
To accomplish that, Praia enables the creation of robust consumer profiles that extend beyond the medical record, which might finally give providers a way to build the “digital flywheels” enjoyed in other consumer industries.
Here’s how it works (perfectly explained in these short videos):
- The first step is a “lift and shift” to Praia’s Secure Patient Identity Service (SPI). Once transitioned, SPI seamlessly supports all of the system’s signed-in digital experiences (branded mobile and web apps, patient portals, etc.).
- Praia Health’s PersonStore then enables health system’s to marry consumer identity with consumer data, securely synchronizing the EMR with outside data sources to connect-the-dots between consumer data and outcomes.
- Those SPI and PersonStore capabilities lay the groundwork for a new class of digital experiences that reflect the health system’s unique brand and offerings, assisted by a full suite of development tools to integrate Praia into existing solutions.
- Once those consumer experiences are available, the flywheel is fueled by adding more solutions to Praia’s partner ecosystem. The platform delivers all of these solutions through a single scalable experience.
Although Praia has some lofty goals, Providence’s incubation model carries some massive advantages that might make them possible.
- Praia has been in use at the 51 hospital system since January 2022, and already supports over 3.5 million user accounts.
- Indiana-based Community Health Network is already lined up as Praia’s first post-launch implementation.
- The aforementioned partner ecosystem is debuting with a whopping 17 startups on-board, including Omada, Wellthy, Kyruus, and Season.
The Takeaway
Although there’s no doubt that Praia’s mission is ambitious, it’s equally apparent that Providence brings plenty of advantages that other founders can only dream of. Providence has a solid track record with its incubator (see: Xealth, DexCare, Circle), and all signs are pointing to Praia keeping that streak alive.
