Abartys Health was a part of Parallel 18’s class of 2016 in Puerto Rico and is now carving out a space in the American health insurance market. Lauren Cascio spoke to LATAM.tech about the startup’s goals of stemming losses within the system.
“Giving patients access to their own healthcare is what we want to do.” Lauren Cascio says, when speaking to LATAM.tech about Abartys Health, saying that when it comes to digitally serving both providers and patients, health insurance in the US still has some way to go.
Founded in 2015 by Cascio and business partner Dolmarie “Dolma” Mendez, the insuretech startup wants to be the technology layer between American insurance providers and their members.
“Why don’t I have access to my healthcare through digital means?” was a question that the company set out to solve in an industry that continues to bleed losses yearly. Given that $750B are annually lost within the US healthcare market, Abartys have the ambition of lowering healthcare costs and giving patients access to their records.
“There were issues with the old system,” Cascio said, citing duplicate records and the discrepancy as to what services cost. “We have an algorithm that can establish better data about providers.”
Casicio said that using electronic health record systems, the company can help providers administer records to ensure that they can improve their service. “We provide insurance companies more information to help them better understand their members: their clinical data and health risks of the population.” Abartys also helps providers better manage their network to providers.
The company has already added Quest Diagnostics and Roche Pharmaceuticals to their client list and their work allows the data (from blood tests for example that will be formed into clinical and financial codes) to be presented to patients in an understandable way.
“For the providers we give them a filtered version of the data,” Casico said, adding that patients concerned about what data gets shared can be assured that the sharing of data can only occur if the patients opt-into the system.
“We are committed to being an advocate for patients. We’re here to help patients better understand their health and we make it clear that only they have access to the info unless otherwise agreed.” Cascio told us.
The company hopes to democratize healthcare by creating a transparent and accessible network for patients, doctors, and insurance carriers. Having been part of Puerto Rico’s P18 accelerator in 2016, so far they’ve raised over $2M in funding and the company have exceeded 750K active patients.
Disclosure: This article contains a client of an Espacio portfolio company.