Serial entrepreneur Kurt Waltenbaugh has been in the business of data since the early 90’s.
At Retek (acq. 1996 by HNC Software), it was retail data and with Integral7 (acq. 2010 by Pearson), it was professional credentialing.
That was before he did five years inside Optum, building products based on clinical and claims data for the employer, payer and provider markets.
“I learned that taking costs out of healthcare is good on the whole, but very challenging for the individual players within that market,” he says on his motive for returning to the startup game.
“Coupled with the fact that 99.9% of our lives are spent outside of the health system, it became clear to me that the EHR data on its own is not nearly sufficient enough to understand consumer behavior and make wise predictions.”
Joined by partners Derek Rucker (CTO), Steve Sigmond (CFO), Won Chung (Physician) — Prairie Compass has set out to marry claims/clinical data with broader consumer data, packed in SaaS and placed on a consumer loyalty platform.
Prairie’s analytical magic happens behind the scenes by combining thousands of disparate data points (300m+ households) with the organization’s existing health databases. The result is designed to help payers and providers achieve better outcomes in areas of customer acquisition, engagement, retainment, and payment.
For example, Waltenbaugh says, their customers can analyze a variety of dimensions to determine which patient clusters are likely to have specific healthcare needs, when they will have them, and if they can pay for them.
By integrating Prairie’s results their CRM, they can in turn, can can craft targeted campaigns like never before, reducing the cost of guesswork and increasing revenue through granular channels.
“Identifying a group known to behave in certain ways and aligning them with what the provider seeks to influence is very powerful stuff. That’s what we enable…it’s a customer growth machine!”
Prairie Compass has already acquired half a dozen paying customers across the country this year, with plans to scale the technology and sales going into next. Self finananced at inception, the venture is a new tentant at TreeHouse Health — gaining some cash, space, mentorship and connections in exchange for equity.