Georgia Tech to launch health technology initiative at the Advanced Technology Development Center
NASCO, a leading provider of information technology products and services designed to help healthcare payers across the United States address unique business challenges and revolutionize business operations, is making a significant commitment to Georgia Tech’s Advanced Technology Development Center (ATDC) to create a new initiative for entrepreneurs in healthcare-focused technology.
The ATDC Health Technology (HealthTech) Program is slated to formally launch in July and Atlanta-based NASCO’s gift will provide the initial funding to support the current and future HealthTech startups in ATDC’s portfolio. The initiative is the third of its kind at ATDC and follows other gifts used to launch programs in the financial and retail technology sectors.
“NASCO views this partnership with the ATDC and the launch of the HealthTech initiative as critical to our mission to deliver innovative health services and to support the Georgia healthcare and technology communities,” said David Weeks, NASCO’s chief technology officer. “Healthcare is a highly interconnected ecosystem, and new technologies are helping us to both reduce customer friction and improve health outcomes. The HealthTech vertical will be a key incubator of new ideas to enable these changes.”
In addition to one-on-one coaching and resources for commercial success, the funds also will support healthcare-focused commercialization workshops, hackathons, and hosting industry thought leaders in healthcare innovations in regulation, production, and manufacturing.
The more than 40 startups in ATDC’s current HealthTech portfolio are building companies with innovative approaches to population health, caregiver support, billing fraud, precision medicine, genomics, medical devices, diagnostics, data analytics, and process improvements in drug research.
“Healthcare systems across the U.S. as well as the patients in their care continue to explore ways to leverage innovation and technology to reduce costs, improve patient satisfaction, eliminate waste, increase access, and improve outcomes,” said Kirk Barnes, ATDC’s HealthTech catalyst and who spearheaded the development of this initiative. “We are extremely excited about the partnership with NASCO. The company embraces innovation and technology to improve the way that healthcare is delivered.”
The NASCO partnership will help the Georgia economy by helping entrepreneurs launch viable companies in the state, said ATDC Interim Director Jane McCracken.
"We look forward to working with NASCO to establish this program for HealthTech entrepreneurs,” McCracken said. “We will leverage NASCO’s market knowledge and that of other leading companies in the sector. Combined with Georgia Tech’s expertise and organizations throughout the state, we will help entrepreneurs develop and bring to market dynamic, leading-edge technologies that will benefit healthcare providers, payers, and patients.”
NASCO provides an integrated suite of information technology products and services that help healthcare payers address unique business challenges and revolutionize business operations. Owned by and exclusively serving Blue Cross and Blue Shield Plans for more than 30 years, NASCO provides seamless benefit management, eligibility, membership, billing and claims processing support for Blue Plans, allowing them to provide competitive healthcare products in federal, state and multistate markets for nearly 25 million members. NASCO’s partnership with multiple Blue Plans cultivates a community that fosters the collaboration needed to promote innovation, deliver shared solutions and create a competitive cost advantage. NASCO is shaping the future of healthcare IT. For more information, visit nasco.com.
About Georgia Tech
The Georgia Institute of Technology is one of the world’s premier research universities. Georgia Tech is a national and international leader in scientific and technological research and education and is the nation’s leading producer of engineers as well as a leading producer of female and minority engineering Ph.D. graduates. Ranked among the top public universities by U.S. News & World Report, the Institute enrolls more than 25,000 undergraduate and graduate students in fields ranging from engineering, computing, and sciences, to business, design, and liberal arts. For additional information, visit gatech.edu.
About the Advanced Technology Development Center (ATDC)
The Advanced Technology Development Center (ATDC), a program of the Georgia Institute of Technology, is the state of Georgia’s technology startup incubator. Founded in 1980 by the Georgia General Assembly which funds it each year, ATDC’s mission is to work with entrepreneurs in Georgia to help them learn, launch, scale, and succeed in the creation of viable, disruptive technology companies. Since its founding, ATDC has grown to become one of the longest running and most successful university-affiliated incubators in the United States, with its graduate startup companies raising $3 billion in investment financing and generating more than $12 billion in revenue in the state of Georgia. To learn more, visit atdc.org.