OptMyCare, a clinically engineered AI platform in healthcare and risk management, announced that it raised $3 million in Series A financing from a group of investors led by LiveOak Ventures.
This funding round enables OptMyCare to accelerate its customer acquisition plans, continuously refine its technology, onboard key management personnel, and add experienced healthcare & technology leaders to our board. The total investment to date is $4.5 million.
OptMyCare is a scalable, secure, and cloud-based SaaS product and it combines precision analytics with actionable risk stratification solutions across multiple chronic conditions. Recommendations are based on real-time outputs. And clinically-engineered algorithms take data from 55 chronic clinical diagnoses, their associated procedures, and claims costs and facilitate rapid and accurate risk identification. And these predictive and prescriptive solutions actively help risk bearers improve workflow, lowering the time and costs associated with manual processing.
KEY QUOTES:
“The need for a clinically driven AI solution to identify and mitigate rising risk across multi-chronic diseases is lacking, OptMyCare is the first comprehensive machine learning platform that comprehensively addresses holistic care incorporating social determinants of health (SDOH) and behavioral health while mitigating risk progression and healthcare cost. We are excited to partner with Live Oak Ventures to expand our technical and marketing platform to evolve into an industry leader in AI solutions for value-based care.”
– Dr. Saravanan Balamuthusamy, CEO and co-founder of OptMyCare
“Providing patients, their providers, and payors with relevant information to empower decision-making and appropriation of resources helps improve the efficiency of our healthcare system.”
– Dr. Antony E. Pfaffle, co-founder
“Drs. Balamuthusamy and Pfaffle bring incredible clinical domain knowledge and success in developing one of the most accurate ML-based predictive risk-stratification models at a patient level. We are excited about the potential to apply this distinctive capability combined with their expertise to build a next-generation software and solutions company that can materially improve health outcomes and reduce costs for broad swathes of the population. As such, we are delighted with the opportunity to expand the Live Oak portfolio in digital health and collaborate with them to build a great business in the nexus between care delivery and predictive analytics.”
– Krishna Srinivasan, founding partner of Live Oak
