Onos Health has raised $17 million in Series A financing to expand adoption of its behavioral health clinical intelligence platform among U.S. health plans. Costanoa led the round, with participation from Flare Capital Partners and strategic investment from CVS Health Ventures.
Onos said leading health plans, including Aetna, are already using its AI technology to improve clinical quality while reducing the total cost of behavioral healthcare.
The company is targeting a major area of healthcare spending.
More than 23% of U.S. adults experience a mental health condition annually, while direct medical spending on behavioral health exceeds $140 billion per year.
Onos argues that health plans often lack sufficient visibility into behavioral care because much of the information needed to evaluate treatment quality is contained in unstructured clinical records rather than conventional structured datasets.
The company built what it describes as the largest behavioral healthcare quality database and developed proprietary models designed for the complexity of behavioral diagnoses and services.
Across deployments, Onos reported a 35% improvement in adherence to clinical standards, a 75% increase in clinical review efficiency and more than a 6% reduction in behavioral health program costs within 12 months through improved clinical quality.
Its platform combines claims, utilization information, clinical documentation and quality guidelines to provide health plans with a broader view of patient care pathways.
More than 70% of behavioral health quality signals are embedded in unstructured documentation, according to Onos.
The company’s AI converts that information into clinical intelligence that can identify treatment patterns, care gaps and opportunities for quality improvement.
Onos is currently trusted by three of the six largest health plans in the U.S.
The Series A will support broader adoption as the company attempts to move payers from retrospective utilization oversight toward proactive collaboration with behavioral healthcare providers.
KEY QUOTE:
“AI has the potential to fundamentally transform how health plans manage care by making clinical quality and care pathways measurable at scale. Onos leverages proprietary AI to give plans unprecedented visibility into their populations, enabling them to proactively partner with providers, eliminate manual administrative work, and improve outcomes while driving efficiency across the healthcare system.”
Akshay Agarwal, Co-Founder And CEO Of Onos Health
