RadiantGraph – a platform using machine learning and artificial intelligence to drive consumer engagement for health plans – recently announced its launch after raising $5 million in seed funding in a round led by True Ventures and XYZ Ventures, with participation from Remus Capital. This funding round will be used to accelerate growth, which includes partnering with new healthcare organizations and advancing their enterprise health and health plan product offerings.
As healthcare costs continue to rise, with a projected increase of 7% in 2024, but consumer engagement with healthcare is still low. And engagement is critical because it leads to better health outcomes and overall consumer experience. An example where engagement is necessary is the management of chronic conditions, one of the largest drivers of healthcare cost and something that requires patient activation and collaboration to be successful. Plus, missed opportunities leave health plans and healthcare companies scrambling to engage members and promote healthy behaviors.
RadiantGraph utilizes machine learning (ML) and artificial intelligence (AI) to translate data, including medical claims, medication history, and biometric data, to create tailored healthcare experiences that reach consumers where they are. This results in more effective communication, higher patient satisfaction, and improved healthcare outcomes.
Health plans, Providers, and Enterprise Health companies often do not have the resources and expertise to deploy proprietary ML and AI models to reach their consumers effectively. And data science teams can spend 50-80% of their time ingesting, detangling, enriching, and managing incomplete healthcare data. And RadiantGraph’s platform approach begins generating usable insights in weeks versus the years it would take a company to build a platform from the ground up. This enables companies to save millions in capital investment and critically accelerate timelines to deploy models and deliver outcomes. This type of personalized communication can reduce acquisition costs by up to 50% and increase revenue 5-15%.
RadiantGraph’s team are pioneers in the field, with decades of experience in applying data science, AI, and ML to healthcare challenges. And this gives them an understanding of the difficulties that building a system from the ground up can bring. RadiantGraph allows customers to accelerate their offerings while reducing risk and cost compared to building out and employing their own data science team.
RadiantGraph helps healthcare companies effectively deploy AI models in order to attract and engage consumers, meet clinical needs, and drive personalized care. And these models are integrating RadiantGraph seamlessly into their product and marketing, with the ability to discover new patterns to drive conversions. Growth-stage clients see positive results after only several months of using RadiantGraph, including savings in direct technical development expense.
KEY QUOTES:
“We are firm believers in what the RadiantGraph team is building. Growth scale healthcare companies, as well as health plans, benefit from better population targeting that leverages data and AI. RadiantGraph is generating direct cost savings and ROI for Pelago; and they’re helping us bring new clinical growth and interventions to our members faster.”
— Yusuf Sherwani, Co-Founder and CEO of Pelago
“There are many platform approaches that aim to improve health outcomes but miss the mark when it comes to engaging directly with patients. RadiantGraph’s approach prompts companies to digest often overlooked data to empower patients. There’s a big opportunity to uplevel a patient’s role in their own care management, and that will result in not only better health outcomes but greater cost effectiveness in our healthcare system at large.”
— Adam D’Augelli, partner at True Ventures
“RadiantGraph addresses a problem I’ve worked to solve time and time again – companies building AI systems from the ground up in an effort to transform data into better consumer experiences. It’s simply inefficient. RadiantGraph can drive direct impact on outcomes and help healthcare companies apply AI to drive personalized experiences and keep up with the rapid evolution of AI technology underway. This removes the friction that healthcare companies experience when trying to engage with consumers; and outpaces in-house and third-party options.”
— Anmol Madan, founder and CEO of RadiantGraph
