Redox: the next big digital healthcare player?
Digital healthcare platform Redox recently announced it had raised $45 million in Series D funding to evolve its services, which focus on connecting healthcare providers’ systems and devices. Used by over 1,400 healthcare organisations in the US, their business model has been described as “groundbeaking”.
Redox was founded in 2014 by Luke Bonney, Niko Skievaski, and James Lloyd, formerly from Epic, the EMR software pioneer. The company’s USP is interoperability, with a platform that connects applications and data through just one access point. Compatible with more than 55 electronic health record systems, Redox members currently exchange more than 12 million patient records per day.
Tom Bremner, a partner at private equity firm Adams Street who led the latest round of funding, explained what sets Redox apart from competitors: “Three important characteristics differentiate Redox’s groundbreaking model - a focus on developer experience, a single, consistent data model, and a nationwide network…there are others, but they are mostly point-to-point. Nobody has Redox’s traction or brand in the digital health space.”
The digitisation of healthcare as a result of the Covid-19 pandemic has undoubtedly contributed to the company’s expansion, which has seen its integrations increase by 300 per cent. In June Redox appointed a new CFO to support their tremendous growth.
The company has also been involved in the Covid-19 response. Towards the start of the pandemic they launched their two-week Rapid Deployment model for telehealth companies to integrate with healthcare organisations, a process that can take 4 – 5 months.
They also worked with Electronic Lab Reporting (ELR) to enable the automation of lab findings that meet requirements for reporting cases of the virus. As a result Redox now transfers Covid ELR data to 90 per cent of state public health departments in the US. Additionally, Redox is helping to process 10 per cent of all Covid tests nationwide through its integration engine and a partnership with testing firm Curative.
Redox has been a trusted Salesforce Health Cloud integration partner since 2016, and is also available through AWS Marketplace. This enables healthcare organisations to access the largest package of pre-built EHR integrations available.
“2020 will be seen as an inflection point in digital health, as necessity brought five years of innovation forward into a single year” co-founder Luke Bonney said. “But we couldn’t have reached this point in our collective growth without the consistent dedication and creativity of our team, our customers, and our partners.
“Our mission is simple: to make the world’s healthcare data useful. We want patients to feel empowered in their healthcare experience. We do that by making it easy for the best digital health applications to scale integration seamlessly across our national network of connected providers.”
Data de-identification - why it matters in healthcare
Large amounts of healthcare data is generated yet goes unused due to privacy concerns. To address this, data privacy firm TripleBlind has created Blind De-identification, a new approach that allows healthcare organisations to use patient data while eliminating the possibility of the user learning anything about the patient’s identity.
We asked Riddhiman Das, co-founder and CEO to tell us more about data de-identification.
Why is data de-identification important in healthcare?
Blind De-identification allows every attribute of any given dataset to be used, even at an individual level, while being compliant to privacy laws, rules, and regulations by default.
Governments around the world are adopting global data privacy and residency laws like GDPR, which prohibit citizens’ personally identifiable information data from leaving the borders of the country. While great for data protection, data residency laws result in global silos of inaccessible data. TripleBlind allows computations to be done on enterprise-wise global data, while enforcing data residency regulations.
In the US, HIPAA compliance has relied on what is called the Safe Harbor method, which requires removing 18 types of personal patient identifiers like names, email addresses, and medical record numbers. The Safe Harbor method can be too restrictive with the data or can leave too many indirect identifiers, which puts the patient data security at risk. Getting de-identification wrong could make an organisation liable for a costly mistake.
What does TripleBlind's solution do?
With TripleBlind, data is legally de-identified in real time with practically 0% probability of re-identification. Our solution allows analytics on data containing personally identifiable information and protected health information with zero possibility of re-identifying an individual from the dataset. This allows healthcare organisations to access more meaningful data, creating more accurate and less biased results.
For example, a healthcare drug researcher in a rural, predominantly white area, would only have patient data that would reflect their local population. With TripleBlind’s de-identification, they could more easily leverage third-party data from another healthcare facility in a more diverse region, creating a more complete data set that more accurately reflects the larger population. This has the possibility to create more accurate diagnoses and better drug results for more diverse populations.
How can healthcare organisations use this in practice?
TripleBlind is blind to all data and algorithms. That means we never take possession of customer data. We only route traffic between entities, enforce permissions, and provide audit trails. The enterprise’s data remains under their control. TripleBlind does not host, copy or control their data, algorithms or other information assets, ever.
We facilitate a connection to an encrypted version of their information assets. Our technology allows the algorithms and data to interact in an encrypted space that only exists for the duration of the operation. Organisations use their existing infrastructure, so it’s not hardware dependent.