CareSet Company Profile

Background

Overview

CareSet is a healthcare analytics company founded in 2014, specializing in the analysis of Medicare claims data to provide insights into patient care and treatment patterns. The company is headquartered in Houston, Texas, and operates with a team of approximately 22 employees.

Mission and Vision

CareSet's mission is to enhance patient outcomes by transforming complex Medicare data into actionable insights, thereby improving healthcare delivery and decision-making processes. The company's vision is to be a leader in healthcare data analytics, driving innovation and transparency in the industry.

Primary Area of Focus

The company focuses on analyzing Medicare claims data to uncover provider influence, identify gaps in data, and map patient journeys. By providing comprehensive insights into treatment patterns and patient behaviors, CareSet aims to support pharmaceutical companies, healthcare providers, and policymakers in making informed decisions.

Industry Significance

CareSet holds a significant position in the healthcare analytics industry by being the first company to commercialize 100% of Medicare claims data, including Parts A, B, C, and D. This comprehensive access enables the company to offer unparalleled insights into patient care and treatment patterns, setting it apart from competitors.

Key Strategic Focus

Core Objectives

Data Transparency: Advocate for open access to healthcare data to improve patient outcomes and drive industry progress.

Comprehensive Analytics: Provide detailed analyses of Medicare claims data to uncover provider influence, identify data gaps, and map patient journeys.

Client Empowerment: Equip pharmaceutical companies, healthcare providers, and policymakers with actionable insights to inform decision-making processes.

Specific Areas of Specialization

Medicare Claims Analysis: Decoding complex Medicare data to reveal treatment patterns and patient behaviors.

Patient Journey Mapping: Tracking cohorts of Medicare patients through the healthcare system to understand disease progression and treatment pathways.

Provider Influence Assessment: Analyzing provider prescribing behaviors and their impact on patient outcomes.

Key Technologies Utilized

Data Science and Analytics: Employing advanced data analytics techniques to process and interpret large-scale Medicare claims data.

Data Liberation Tools: Utilizing tools to access and release Medicare data as public use files, promoting transparency and open data initiatives.

Primary Markets or Conditions Targeted

Pharmaceutical Industry: Assisting pharmaceutical companies in understanding treatment patterns and patient behaviors to inform drug development and marketing strategies.

Healthcare Providers: Providing insights to healthcare providers to optimize patient care and treatment protocols.

Policy Makers: Offering data-driven insights to policymakers to inform healthcare policies and initiatives.

Financials and Funding

Funding History

CareSet has not accepted outside investment since crowdfunding the company's original product offering.

Total Funds Raised

Specific details regarding the total funds raised by CareSet are not publicly disclosed.

Notable Investors

Information about individual investors is not publicly available.

Intended Utilization of Capital

The company has utilized its capital to expand its data analytics capabilities, enhance its technological infrastructure, and grow its client base, particularly within the pharmaceutical industry.

Pipeline Development

Key Pipeline Candidates

CareSet offers several data science products to aid new drug launches, including:

CareSet Target: Physician segmentation and targeting data.

CareSet Pathway: Patient journey mapping.

CareSet Market View: Medicare market reports.

CareSet Cube: Data warehouse and data cube.

Stages of Clinical Trials or Product Development

As a data analytics company, CareSet does not engage in clinical trials but focuses on providing data-driven insights to support pharmaceutical companies in their drug development processes.

Target Conditions

CareSet's analytics cover a wide range of conditions, as its data is derived from comprehensive Medicare claims data, encompassing various therapeutic areas.

Relevant Timelines for Anticipated Milestones

Specific timelines for product development milestones are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

DocGraph Datasets: Open healthcare datasets created by CareSet Labs, promoting transparency and open data initiatives.

Significant Scientific Methods

Data Liberation: Releasing Medicare data as public use files to encourage innovation and research.

Advanced Data Analytics: Utilizing sophisticated analytics techniques to process and interpret large-scale healthcare data.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, CareSet employs advanced data analytics techniques that may include machine learning algorithms to process and interpret complex healthcare data.

Leadership Team

Ashish Patel – CEO and Founder

Professional Background: An accomplished analyst, data scientist, and journalist, Ashish co-founded CareSet and has been instrumental in its growth and success.

Key Contributions: Led the company through significant growth, expanded its client base, and advocated for healthcare data transparency.

John Beriont – Chief Commercial Officer

Professional Background: A successful healthcare executive, entrepreneur, and pharmaceutical veteran with over 35 years of experience.

Key Contributions: Oversees commercial operations, driving business development and client relationships.

Michael Antonoff – Chief Operating Officer

Professional Background: With over two decades of experience, Michael has been a driving force in data management, analytics, and artificial intelligence.

Key Contributions: Manages operational aspects of the company, ensuring efficient delivery of services.

Leadership Changes

Specific details regarding recent significant changes or appointments within CareSet's leadership are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The healthcare analytics market is growing, driven by the increasing need for data-driven decision-making in healthcare. CareSet's comprehensive access to Medicare claims data positions it uniquely in this market.

Competitor Analysis

CareSet's primary competitors include:

Validic: Founded in 2010, Validic provides a platform for healthcare data integration, enabling access to patient-generated health data.

Kyruus: Established in 2010, Kyruus offers provider search and scheduling solutions, connecting patients with appropriate healthcare providers.

Strategic Collaborations and Partnerships

CareSet has collaborated with organizations such as ProPublica, The Wall Street Journal, the Robert Wood Johnson Foundation, and the White House to release Medicare data as public use files.

Operational Insights

CareSet's comprehensive access to Medicare claims data and its focus on data transparency provide a competitive advantage in delivering actionable healthcare insights.

Strategic Opportunities and Future Directions

Strategic Roadmap

CareSet aims to expand its data analytics capabilities, enhance its technological infrastructure, and grow its client base, particularly within the pharmaceutical industry.

Future Business Directions

The company plans to continue advocating for healthcare data transparency and to develop new data science products to support drug launches and patient care.

Opportunities for Expansion

CareSet has opportunities to expand its services to include additional healthcare data sources and to collaborate with more healthcare organizations to enhance patient care.

Current Strengths

CareSet's unique access to comprehensive Medicare claims data and its commitment to data transparency position it well to achieve its future objectives.