Taking AVIA partnership to the next level

The first year OSF Ventures came to fruition, we invested in four companies with one being AVIA in Chicago. AVIA helps source digital solutions for forward-leaning health systems working to address shared challenges.

Over these last several years, AVIA has introduced us to a variety of companies with emerging technologies to improve patient outcomes and reduce costs. OSF HealthCare has partnered with many of those businesses to implement their solutions within our Ministry.

One that stands out is SilverCloud, an interactive digital platform out of Enterprise Ireland that helps people manage the feelings and causes of depression, anxiety or stress. OSF HealthCare has offered this service free of charge to individuals in all of the communities we serve by open enrollment. It has reached more than 3,000 people.

We look forward to our continuing partnership as AVIA continues to grow it member base, expand services and gain national recognition for its work serving the Medicaid population.

Expanding services

AVIA has been successful in bringing health care systems together to work towards solving a shared challenge, so much so that the company has attracted upwards of 50 organizations to be part of one of its many cohorts. As it evolves, AVIA is expected to focus more on supporting the adoption of the technologies it presents to its members.

The company has gained a lot of attention recently with the formation of the Medicaid Transformation Project, a national effort to transform health care and related social needs for the most vulnerable. The two-year effort brings the nation’s leading health systems together, including OSF HealthCare, to identify, develop and scale financially sustainable solutions to four critical challenges facing under-served populations across the country. These include behavioral health, women and infant care, substance use disorder and avoidable emergency department visits.

The most recent service offered through AVIA is the creation of the Venture Forum Group. The collective is made up of about 12 health care systems that have venture programs, including OSF Ventures. The idea is to expose us to new companies we may consider for future investments. We also have the ability to build relationships with other health care systems investing in new technologies, opening the doors for future collaboration.

Continuing partnership

At the end of last year, we made the decision to invest in AVIA for the third time. Meanwhile, the company is helping us evaluate our own digital readiness capabilities. We look forward to continuing our collaboration with AVIA as we analyze and solve problems for our facilities and the people we serve.

About Author: Stan Lynall

Stan Lynall, CPA, is the Vice President of Ventures Investments for OSF Ventures, the corporate venture program of OSF HealthCare. In this role, Stan identifies new technology that can positively impact those served by the Ministry. He also manages the diligence and venture investment process and maintains relations with the system’s portfolio investments and syndicate co-investors.

Before that, Stan founded and was the Managing Member of LMA Consulting, LLC, providing merger and acquisition services to private businesses. He also co-founded Central Illinois Angels, a nonprofit entity that provides early-stage investment opportunities for accredited angel investors. Stan is an honors graduate of the University of Illinois where he earned a Bachelor of Science degree in Accountancy. He is a Certified Public Accountant and is also a 2005 graduate of RSM’s Business Advisor Program conducted by the University of Chicago-Graduate School of Business.

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Categories: Innovation