FintechTechnology

Looking to modernize how health care constituents pay and supply one another, industry veteran Dunston Almeida has launched a new company with a “nine-figure” commitment from New Enterprise Associates.

What’s happening

The new company, triValence, is building next-gen infrastructure to automate B2B supply-chain management and payment processes, Almeida tells Sarah.

• In addition to Almeida, a former Zelis, eviCore and Medco executive, triValence has assembled executives with past experience at CVS, Inovalon, John Hopkins, Optum and Symplr.
• Strategic advisers include former GE and Athenahealth CEO Jeff Immelt and ex-White House policy director Kavita Patel. Almeida says triValence aims for a 50% female leadership team.

Why it matters: The health care payments and supply chain ecosystem is inefficient and ripe for change. Providers manage vendors and systems that are siloed, and processes remain largely paper-based and manual.

• Most health care payments innovation has focused on the consumer, whereas the B2B universe — despite its size — has lagged.
• “There’s big demand because nobody is doing it,” Almeida says. “It’s boring. Not sexy. It’s infrastructure. It’s hard to do.”

Read the rest of this article at Axios.com