Editor’s be aware: This text has been up to date with a quote from Layer Well being’s cofounder and CEO.
Layer Well being, an AI-enabled chart evaluate firm, introduced it secured $21 million in Collection A funding.
Outline Ventures led the spherical, with participation from GV (Google Ventures), Flare Capital Companions and MultiCare Capital Companions.
WHAT IT DOES
Layer Well being’s AI platform is constructed on machine studying algorithms that leverage massive language fashions (LLMs) to streamline the chart evaluate course of from unstructured information.
The corporate touts its AI as performing higher than a human at complicated chart abstraction and that every one main registries are supported, together with cardiovascular and oncology registries and nationwide surgical procedure.
The know-how will be built-in into present merchandise and goals to assist with high quality measurement, curation of real-world proof, income cycle administration, high quality measurement and registry submissions with out the necessity for labeled information.
Layer will use the funding to scale its AI platform and increase its workforce.
“Our Collection A marks a serious milestone in Layer Well being’s mission to deliver AI-powered medical understanding to the center of healthcare operations. The complexity of managing medical information throughout fragmented techniques is without doubt one of the largest boundaries to scalable, high-quality care-especially in value-based environments,” David Sontag, CEO and cofounder of Layer Well being, advised MobiHealthNews in an electronic mail.
“This funding permits us to speed up our work with well being techniques and life sciences organizations to unravel that drawback at scale. We’re additionally lucky to have a world-class group of buyers behind us, whose deep experience in healthcare and know-how might be instrumental as we enter this subsequent section of development.”
MARKET SNAPSHOT
Layer Well being, spun out of MIT, launched in 2023 with $4 million in funding from GV (Google Ventures), Basic Catalyst and Inception Well being.
Earlier this month, the corporate introduced a multi-year collaboration with the American Most cancers Society (ACS) to expedite most cancers analysis.
ACS will use Layer Well being’s LLM-powered information abstraction platform to tug medical information from 1000’s of medical charts of sufferers enrolled in ACS analysis research.
One other firm that makes use of pure language processing to investigate and summarize EHRs is DigitalOwl.
DigitalOwl raised $20 million in Collection A funding in 2022 and final yr scored a $12 million funding from insurance coverage large Reinsurance Group of America (RGA).
Final yr, DigitalOwl collaborated with Quest Diagnostics firm ExamOne with the intention of enhancing the effectivity of document retrieval and evaluation by way of DigitalOwl’s View product. ExamOne supplies risk-assessment instruments for the life insurance coverage trade with a collection of providers aimed toward streamlining the underwriting course of.
Source link
