Concert Genetics, Inc.

Concert Genetics, Inc. provides a comprehensive platform for enhancing payment accuracy in precision health diagnostics, aimed at streamlining operational efficiency for healthcare organizations. Founded in 2010 and headquartered in Nashville, US, Concert Genetics specializes in payment solutions for precision health diagnostics. The company has not undergone notable pivots or changes and operates independently.

The CEO, Rob Metcalf, has a history of leadership within healthcare technology. Concert has raised a total of USD 1. 47 mn with its latest funding round in January 2018, securing investment from Deerfield Management. The firm has completed a total of 9 deals to date.

Concert offers an integrated platform designed to enhance payment accuracy in precision health diagnostics. Its core product harmonizes clinical guidelines, coding, policy, and payment rules for automation, catering to health plans, hospitals, health systems, and laboratories. The solution addresses challenges in the fast-evolving diagnostics landscape, ensuring healthcare organizations can navigate payment complexities effectively. The services are primarily deployed in the US, where there is increasing demand for precision health solutions.

Concert generates revenue through partnerships and subscription models with healthcare organizations, focusing on the licensing of its cloud-based platform. This platform assists clients in managing test orders and reimbursement processes while integrating into existing workflows. Concert's offerings, including the test order management system and GTU® Test Identifier, enhance insurance alignment and clinical stewardship. The pricing structures reflect the value delivered to clients, aligning with the precision health market.

Concert Genetics plans to leverage the growth financing from its January 2018 funding round to enhance its platform further and expand into new geographic markets. The company is anticipated to focus on developing new products with specific functionalities to improve payment accuracy and efficiency. Future expansions are likely to target additional regions in the US, where the demand for precision health services is significantly increasing. The recent funding will support product development and market entry strategies.