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par8o.com

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Stage

Convertible Note | Alive

Total Raised

$13.5M

Last Raised

$3M | 6 yrs ago

About Par8o

par8o is a venture-backed, EMR-agnostic platform that creates a common point for coordinating care delivery and plan design, a technology that connects providers, payers, and patients. The par8o platform acts as a cloud-based healthcare operating system enabling all parties to improve care and optimize towards several clinical and business goals in parallel rather than to the detriment of one another. par8o helps clients succeed by applying Pareto Optimization, a powerful economic principle that succeeds because it is well suited to the complex, multi-constituency nature of healthcare. Simply put, par8o helps organizations match the right patient to the right resource at the right time.

Par8o Headquarter Location

1340 Centre Street Suite 202

Newton Center, Massachusetts, 02459,

United States

855-377-2786

Latest Par8o News

Healthcare Innovator par8o Launches Research Network to Increase Diversity in Clinical Trials, Improve Health Equity

Oct 28, 2020

New clinical trial recruitment approach, approved by WCG IRB, focuses on connecting health center communities with clinical research October 28, 2020 09:35 AM Eastern Daylight Time BOSTON--( BUSINESS WIRE )-- par8o , the largest provider of referral management technologies for large health systems and self-insured employers, today announces the launch of par8o Research Network (PRN), a clinical trial recruitment service that connects health center patients with nearby trials. Notably, to ensure both HIPAA and ethical compliance, par8o’s patient outreach and engagement protocol has been reviewed and approved by an independent Institutional Review Board, WCG IRB . As a well-established partner to the nation’s leading health systems since 2011, par8o has demonstrated that its technology can be transformative. Over the last three years, the company has leveraged its expertise to assist community health centers with capturing savings for their 340B programs through prescriptions that result from referrals. Today, par8o serves over 130 health center clients across 35 states, translating to more than 7 million underinsured, uninsured or publicly insured patient lives. With the launch of PRN, par8o will apply its expertise to solve a major issue in clinical trials—namely, the lack of racial, ethnic and socioeconomic diversity. “The lack of diversity in clinical research not only increases drug costs due to failed recruitment targets and delayed timelines, but also creates an ongoing legacy of healthcare injustice against minority groups,” said par8o CEO, Dr. Daniel Palestrant, MD. “It’s well known that different racial and ethnic groups can respond differently to the same treatments. Under-representation of minority groups in a clinical trial can create a legacy of bad data, which can ultimately impact patient access to therapeutics. We are confident that PRN will move the needle on the lack of diverse racial and ethnic representation in clinical trials.” Clinical research and development diversity statistics are alarming: Out of 31 cancer treatments approved in the United States since 2015, 24 of the related clinical trials included fewer than 5% Blacks, despite Blacks making up 13.4% of the US population. Further, one in five FDA approvals differ in exposure and response as a function of racial and ethnic under-representation, according to a 2015 report published by Clinical Pharmacology & Therapeutics. "Clinical trial recruitment is difficult and recruiting racially-diverse and representative participants is even more challenging, but the sense of urgency for diversity in clinical trials has grown significantly during the COVID-19 pandemic,” said Craig Lipset, adjunct assistant professor, Rutgers University and former head of clinical innovation, Pfizer. “PRN brings trusted relationships with community-based health centers that have been on the sidelines for clinical trials, but when coupled with technology create a unique opportunity to improve diversity in trial participation and take a significant step forward in addressing racial disparities in healthcare." Health Center Patients: More Likely to Be Affected, Less Likely to Be Included Health center patients are increasingly diverse: The National Association of Community Health Centers 2020 Chart Book reported health center patients are 41% White, 36% Latino/Hispanic, and 22% Black, with 91% at or below 200% of the federal poverty level. Yet Black, Native American, and Latinx patients are far less likely than White patients to encounter or participate in clinical trial opportunities. “PRN approaches a healthcare challenge that is hampered with a long history of trust and access issues,” said Melissa Opraseuth, Pharm D. and par8o COO. “Health centers are integral to the communities they serve and have earned the trust of their patients. PRN builds upon this trust by providing a way for health centers to promote equal access to clinical trials for their patients.” Streamlining Trial Participant Identification When a health center joins PRN, par8o works with the health center to analyze electronic health record (EHR) data to identify patients who might be candidates for nearby trials. From there, par8o has built a workflow which leverages its expertise in patient referral management and care coordination that enables providers and patients to seamlessly qualify for and participate in clinical trial opportunities. ABOUT PAR8O Healthcare technology company par8o was founded in 2011 with the mission of applying the Pareto optimality concept to healthcare. Its flagship product, CareCompass, optimizes patient referrals through intelligent specialist recommendations, patient engagement and care coordination, and has processed over 3 million referrals across 42 states. In 2017, par8o introduced 340B Referral Capture, leveraging EHR and third-party administrator (TPA) integration, care coordination expertise and automation to help health centers capture 340B revenue from referrals. par8o currently serves over 130 of the nation’s health centers at over 2,000 locations in 35 states, covering almost 7 million patient lives. Contacts

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Expert Collections containing Par8o

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Par8o is included in 3 Expert Collections, including Value-Based Care & Population Health.

V

Value-Based Care & Population Health

644 items

The VBC & Population Health collection includes companies that enable and deliver care models that address the health needs for defining populations along the continuum of care, including in the community setting, through participation, engagement, and targeted interventions.

S

Startups Streamlining Healthcare Administrative Costs

349 items

Companies partnering with healthcare stakeholders to improve operational efficiency across payment, supply chain, data mgmt, and more.

D

Digital Health

10,285 items

Companies using/incorporating digital tech into health, wellness, and life science offerings. Includes cos operating within the hc, consumer health, and life science industries + tech vendors catering to them. Excludes cos exclusively focused on fitness/sports & performance

Par8o Patents

Par8o has filed 3 patents.

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7/28/2015

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