Health IT, Startups

AnalyticsMD raises $13M to support “air traffic control” for hospitals

Norwest Venture Partners and Mayfield led the Series A round with participation from Y Combinator and the Stanford StartX fund.

Radar

When people in healthcare talk about technology, they occasionally draw inspiration from the aviation industry, particularly air traffic control. Both hospitals and airports rely on a complex web of interconnected systems and procedures to ensure that people get from one point to another safely, despite so many factors that can pop up at any time and threaten to undermine the process.

AnalyticsMD, a health IT company that bills itself as air traffic control for hospitals, has closed a $13 million Series A round, according to a press release. The company’s technology applies artificial intelligence and data analytics to managing patient flow in hospital emergency rooms, and inpatient and outpatient departments. The company claims in the press release that its platform can recommend “course-corrections,” which are sent to frontline teams in the form of a ‘nudge’,  so that better decisions can be made at the right time and to prevent larger issues from arising.

“When it comes to health systems, operations is highly neglected. But it’s important. It’s where you’ll find the bulk of hospital’s costs and it’s also where we can really move the needle on patient satisfaction. We believe that it’s time to overhaul hospital operations,” CEO and Co-founder Mudit Garg said in the news release.

Norwest Venture Partners and Mayfield led the Series A round with participation from Y Combinator and the Stanford StartX fund.

The funding will be used to advance product development. In a phone interview, analyticsMD and co-founder Mudit Garg told MedCity News that the company plans to launch a way to better manage outpatient supply and demand early next year.

“We now have seen a very broad range of hospitals driving improvements at the right time, in the right place,” Garg said.

The health IT startup’s partners include public, academic, and community hospitals such Lucile Packard Children’s Hospital Stanford, El Camino Hospital, Sutter Auburn Faith Hospital, St. Joseph’s Medical Center, and Medstar Montgomery Medical Center.

Additionally, the company filled three posts including Natalie Sunderland as head of marketing — she served in a similar role at Castlight Health. Michael Mucha, head of sales, previously worked for Evolent Health. The head of engineering, Srinivas Mantripragada, had worked for Infoblox and Foundation Capital prior to analyticsMD

Image: Getty Images

Shares0
Shares0