The Israel Innovation Authority (IIA) has announced it will provide a grant of nearly $6 million to Change Healthcare as part of an initiative to expand the country’s digital health ecosystem. With the IIA grant, Change Healthcare will increase its presence in Israel, creating career opportunities while collaborating with other innovators in the Israeli digital health community and the company’s own development centers.
“With our strong focus on innovation, it’s a great honor to be selected for this grant,” said Alex Choy, EVP, Research & Development/IT and CIO, Change Healthcare. “This will enable Change Healthcare to advance and accelerate the delivery of innovative solutions for smarter and more efficient healthcare interactions, wherever they occur.”
Change Healthcare was selected for its potential to drive global transformation to inspire a better healthcare system and also contribute to the Israeli digital health ecosystem, following a competitive process that began last March. The Israeli government has decided to invest one billion shekels (about $270 million US) in digital health, and sees it as a major strategy for growth. There’s no major player in that space in Israel today, and the expectation is that Change Healthcare will play a big role in driving the local industry by sharing its knowledge and expertise, in addition to helping Israeli companies connect with the global market.
“With this grant, we will expand our presence in Israel,” said Omer Schalit-Cohen, site leader for Change Healthcare Israel operations. “We’re developing innovative solutions to solve some of the greatest efficiency challenges in the healthcare system, by leveraging the entrepreneurial culture, cutting edge technological capabilities, and unique government support in Israel. We’ll also be interested in cooperating with companies that can offer us new approaches or innovative solutions that fit with our strategic directions.”
Change Healthcare has a pervasive presence with payer and provider customers across the continuum of care. The Change Healthcare Intelligent Healthcare NetworkTM is used to process clinical, administrative, and financial transactions among hundreds of thousands of healthcare industry stakeholders (physicians, hospitals, and other providers, as well as commercial and government payers), including processing more than $2 trillion in claims annually.
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