ClosedLoop.ai (previously Deep Well being Applied sciences), a well being care knowledge science startup specializing in AI and automation, at this time raised $11 million in sequence A funding led by Greycroft and .406 Ventures with participation from Silicon Valley Financial institution and Meridian Avenue Capital. The corporate plans to place the contemporary capital towards advertising and product R&D efforts because it seems to be to broaden its rising buyer base.
Well being care knowledge will expertise a compound annual development price of 36% by means of 2025, according to a 2018 report from IDC. Regardless of the approaching knowledge deluge, well being techniques stay woefully unprepared. One 2017 study confirmed 56% of hospitals haven’t any methods for knowledge governance or analytics.
ClosedLoop was based to unravel that downside in 2017 by Boxer and Ciphent cofounders Andrew Eye and Dave DeCaprio. (VMWare and Optiv acquired Boxer and Ciphent, respectively, for undisclosed quantities.) DeCaprio beforehand helped to guide the Human Genome Undertaking at MIT’s Broad Institute, a global scientific analysis challenge with the purpose of figuring out the bottom pairs that make up human DNA, and he and Eye have been longtime pals who labored collectively on prior initiatives together with Boxer.
The ClosedLoop platform supplies off-the-shelf AI fashions and automation workflows for well being care functions and guide processes involving knowledge science duties. Along with preventable hospitalizations, readmissions, danger, power illness onset, treatment adherence, member churn, and out-of-network utilization, the startup claims its algorithms can match sufferers with scientific trials, predict product efficacy, and personalize care pathways.
ClosedLoop ostensibly makes it easy to import well being care datasets like medical claims, prescriptions, digital medical data, and customized knowledge together with socioeconomic components, geolocation info, environmental knowledge (like climate), medical machine metrics, and wearable knowledge with out the necessity for normalization and cleaning. Hospitals and well being insurers can construct fashions in 24 hours with over 2,000 options (e.g., treatment adherence, commodities, and frailty) utilizing bespoke instruments whereas on the similar time operationalizing fashions to make sure they’re mechanically up to date as new knowledge arrives. An API permits superior customers to leverage ClosedLoop’s capabilities inside environments like Python and Jupyter notebooks. (Jupyter notebooks are among the many hottest apps for creating and sharing machine studying code.)
Bias reporting for age, gender, ethnicity, and socioeconomic standing are constructed straight into the platform and may be evaluated throughout mannequin coaching, ClosedLoop says. They’re monitored each day for manufacturing deployed fashions, which is necessary — partly as a result of a reticence to launch code, datasets, and strategies, a lot of the info used at this time to coach AI algorithms for diagnosing ailments might perpetuate inequalities, a growing body of research has found.
Eye notes that there have been roughly 3.Three million grownup 30-day all-cause hospital readmissions within the U.S. in 2011 related to $41.Three billion in hospital prices. Yearly, roughly 2 million sufferers undergo with well being care-associated infections and almost 90,000 die. Roughly 4.Four million hospital admissions for acute sickness or worsening power situations totaled $30.eight billion in hospital prices.
ClosedLoop just lately launched the C-19 Index, an open supply predictive mannequin that identifies individuals more likely to have a heightened vulnerability to extreme issues from COVID-19. Whereas the C-19 Index doesn’t predict who will turn out to be contaminated with COVID-19, it’s supposed to assist hospitals, public well being businesses, and different well being care organizations establish, plan for, reply to, and cut back the affect of COVID-19 of their communities. ClosedLoop claims that over 10 million lives throughout companions together with Cerner, Johns Hopkins College, and Ascension have been positively impacted by the C-19 Index.
In October, ClosedLoop — which supplies predictions on over 15 million sufferers within the U.S. — was chosen as a finalist amongst 300 contestants within the U.S. Facilities for Medicare & Medicaid Providers AI Health Outcomes Challenge. The $1.6 million greenback contest goals to spur the event of AI-driven predictions for well being care suppliers and clinicians, with the purpose of demonstrating how AI might be used to foretell unplanned hospital and nursing facility admissions and opposed occasions for Medicare beneficiaries whereas explaining the predictions to clinicians and sufferers in ways in which would assist in offering acceptable scientific assets.
This newest funding brings Austin, Texas-based ClosedLoop’s complete raised to this point to $15 million.