Conflixis secured $4.2M in seed funding to support smarter financial decisions in healthcare
Healthcare startup Conflixis raises $4.2M in seed funding to use AI and advanced analytics to help healthcare organizations better manage and understand conflicts of interest in their decision-making processes.
Healthcare data intelligence startup Conflixis has raised $4.2 million in seed funding in a round co-led by Lerer Hippeau and Origin Ventures, with participation from mark vc, Springtime Ventures, and existing investor Crētiv Capital. The company has developed a platform that enables large healthcare entities to analyze internal and external financial relationships to extract insights about their influence on medical, operations, and procurement decisions.
Conflixis unveils the sometimes subtle influence that some financial relationships can exert on other decision-making domains by supplementing traditional COI management with proprietary risk models and advanced analytics. Not every financial relationship harms decision-making, but healthcare is a domain that hinges on a very delicate balance: technology and research advance thanks to the financial support of outsiders, yet, financial agreements sometimes include conditions that do not necessarily prioritize patient outcomes or reasonable spending, like committing to use a specific treatment when more efficient alternatives exist, or buying from a provider that does not offer the best available pricing.
These two examples perfectly embody Conflixis' main aims: identify conflict points that may hurt an institution's decision-making (and consequently, its patient outcomes), and help those same institutions predict their spending capabilities by providing suggestions to improve their spending patterns. The fresh capital will enable Conflixis to expand its library of evidence-based influence models, including predictive spending capabilities using peer-reviewed data. The company also plans to grow both its client-facing and R&D teams.
"Transparency around these relationships is good for all stakeholders and will result in better decision-making at healthcare organizations of all kinds," said CEO Aaron Narva. According to Conflixis, its platform has already demonstrated strong product-market fit across major health systems and large practice groups, which puts it on a path toward becoming a leading solution for healthcare efficiency and transparency.
