New healthcare technology startup OODA Health has selected Salt Lake City for a new technology and engineering hub, with plans to add more than 60 jobs in 2019. The OODA Health Salt Lake City office currently has 24 employees.
Since opening offices in Salt Lake City, OODA Health company leaders have been continuously impressed with both the level of expertise and quality of life members of the community have.
“Salt Lake City has an impressive concentration of world class technical talent, undoubtedly due to the great quality of life in the area,” said Seth Cohen, co-founder and president of OODA Health. “We want to continue investing in our employees and leveraging Utah’s impressive technology and engineering talent.”
OODA Health is focused on transforming the healthcare payment system by enabling collaborative, real-time interactions between providers, insurance companies, and patients. To accomplish this, OODA Health is building a modern, real-time payment platform, beginning with two products: a solution for patient payments, and a solution for payer payments. These products reduce administrative costs and allow healthcare professionals to spend more time caring for their patients.
The name OODA Health is taken from the “OODA Loop,” a concept coined by former United States Air Force fighter pilot, Colonel John Boyd. The acronym stands for “Observe, Orient, Decide, Act,” a metaphor for their approach to addressing such complex healthcare challenges. The founders believe that better visibility and the ability to act faster is the best way to transform healthcare administration. The company closed a $40.5 million Series A funding round in September 2018 and have secured strategic partnerships with Anthem, Blue Cross Blue Shield of Arizona, Blue Shield of California, Dignity Health, Hill Physicians and Blue Cross Blue Shield of Massachusetts.
“We’re excited for OODA Health to join a vibrant, diverse, global innovation hub with some of the greatest entrepreneurs and companies in the world,” says Lara Fritts, Salt Lake City’s economic development director. “This dynamic community was highlighted when our team connected OODA Health to the Silicon Slopes Tech Summit.”
“Working with local economic development teams has been very positive. The teams have provided guidance and resources and have helped us better understand the landscape in Salt Lake City, which was very helpful for a company based out-of-state,” added Cohen.
“The opportunity for impact in the local community is enormous,” says Theresa Foxley, president and CEO of EDCUtah. “Not only does OODA Health bring more innovation and quality jobs to Salt Lake City, but they are also working on new solutions to solve our nation’s rising health care costs. Their culture will be a nice addition to our Silicon Slopes community.”
OODA Health is now hiring for 60+ jobs and plans to move to a new Salt Lake City office.
About OODA Health: OODA Health was founded by a team of seasoned healthcare entrepreneurs who envision a healthcare system freed from an estimated $400 billion in waste. The company’s mission is to transform healthcare administration by enabling real-time interactions between providers, payers and members. Using a collaborative and innovative approach, the company enables stakeholders to eliminate billions of dollars in waste and dramatically improve the payment experience for members. For more information about OODA Health, please visit www.ooda-health.com.
About Salt Lake City Department of Economic Development: Formed in 2016, under the leadership of Mayor Jackie Biskupski, Salt Lake City’s Department of Economic Development is focused on building Salt Lake City as a vibrant, beautiful, prosperous, diverse, and authentic place – a place that is economically accessible to everyone. Known as the “Crossroads of the West,” Salt Lake City is strategically located for businesses to succeed. SLCDED works to streamline processes, provide excellent customer service, and offer an array of resources and services to recruit and retain businesses in the City, and ensure they have the tools to thrive.