Artisight – a smart hospital platform powered by industry-defining AI to provide virtual care, quality improvement and care coordination solutions – announced that it raised $42 million in an oversubscribed Series B funding round. And multiple new strategic and client health system investors participated in the round, as well as full participation from Series A investors, including chipmaker NVIDIA.
Artisight’s platform – which was developed by clinicians for clinicians – combines IoT sensors with deep learning and open integration standards to streamline safe patient care, including virtual nursing. Artisight’s HIPAA-compliant capabilities include computer vision, voice recognition, vital sign monitoring, indoor positioning capabilities, and actionable analytics reports. Leveraging these seamlessly integrated capabilities reduces clinicians’ documentation and coordination burden, increases their time for direct patient care, reduces administrative costs, and supports better patient outcomes and satisfaction.
The providers implementing Artisight’s technology are seeing measurable results in superior quality metrics and improved financial outcomes. One of the company’s clients, Northwestern Medicine – an award-winning hospital system that encompasses more than 4,000 practicing physicians and twice as many nurses – reports:
1.) 52% reduction in nursing overtime
2.) 89% reduction in falls
3.) 76% reduction in nursing turnover
4.) Record-high nursing and patient satisfaction scores.
The company spends 64% of its resources on developing new capabilities to solve existing and emerging problems. And the funding will catalyze another doubling of headcount to keep up with demand for the Artisight platform.
KEY QUOTES:
“Our Series B round, which was oversubscribed by 2.4x, provides further validation of the results we have delivered for over 100 hospitals, evidenced by the fact that many of them are also investors. With nearly 200 more hospitals undergoing implementation, it was clear we needed to grow to support our emerging client base. Healthcare is in the midst of a staffing, satisfaction and financial crisis. Our novel yet widely adopted approach to helping alleviate these problems has made Artisight the most validated all-in-one platform supporting remote nursing, ambient intelligence, and real-time health system applications.”
“This success is a testament to our team and health system partners – but the real praise and our gratitude go to the nurses, physicians and hospital staff who have modernized clinical care through Artisight’s platform. We have learned immensely from them as we rolled out virtual nursing with AI co-pilots across the country and look forward to the publication of these results in the peer-reviewed literature.”
“Through the support of our investors and clients, Artisight will continue to lead the AI-enabled clinical transformation that will deliver exponentially greater improvements for health systems. We are just scratching the surface of what is possible with ambient intelligence—the best is yet to come.”
— Artisight co-founder and CEO Andrew Gostine, MD, MBA
