Providence Health & Services Launches $150 Million Venture Capital Fund

Providence Health & Services today announced the launch of a venture capital fund aimed at driving innovations across the health care system to improve quality and convenience, lower cost and create better health outcomes.

“We have to find better solutions faster if we are going to help people access higher quality, lower cost care in a more convenient way,” said Rod Hochman, MD, president and CEO of Providence Health & Services. “Consumers want quality and convenience, competitive costs and better health outcomes. We aren’t going to find real change through the traditional lens of health system practices that only improve things incrementally. We need to change faster.”

Providence Ventures will invest $150 million over five to seven years in innovations across the health care system that will improve patient care. The fund will target early- to mid-stage companies that focus on six core areas: online primary care access, care coordination and patient engagement, chronic disease management, clinician experience, data analytics and consumer health and wellness services.

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