Editor’s observe: This text has been up to date with a quote from Layer Well being’s cofounder and CEO.
Layer Well being, an AI-enabled chart evaluation corporate, introduced it secured $21 million in Sequence A investment.
Outline Ventures led the spherical, with participation from GV (Google Ventures), Flare Capital Companions and MultiCare Capital Companions.
WHAT IT DOES
Layer Well being’s AI platform is constructed on system studying algorithms that leverage massive language fashions (LLMs) to streamline the chart evaluation procedure from unstructured knowledge.
The corporate touts its AI as appearing higher than a human at complicated chart abstraction and that every one main registries are supported, together with cardiovascular and oncology registries and nationwide surgical treatment.
The generation may also be built-in into current merchandise and objectives to assist with high quality size, curation of real-world proof, earnings cycle control, high quality size and registry submissions with out the will for categorized knowledge.
Layer will use the funding to scale its AI platform and make bigger its staff.
“Our Sequence A marks a significant milestone in Layer Well being’s undertaking to convey AI-powered scientific working out to the guts of healthcare operations. The complexity of managing scientific knowledge throughout fragmented methods is likely one of the greatest boundaries to scalable, top quality care-especially in value-based environments,” David Sontag, CEO and cofounder of Layer Well being, advised MobiHealthNews in an e-mail.
“This investment permits us to boost up our paintings with well being methods and lifestyles sciences organizations to resolve that drawback at scale. We are additionally lucky to have a world-class staff of buyers at the back of us, whose deep experience in healthcare and generation can be instrumental as we input this subsequent segment of expansion.”
MARKET SNAPSHOT
Layer Well being, spun out of MIT, introduced in 2023 with $4 million in investment from GV (Google Ventures), Normal Catalyst and Inception Well being.
Previous this month, the corporate introduced a multi-year collaboration with the American Most cancers Society (ACS) to expedite most cancers analysis.
ACS will use Layer Well being’s LLM-powered knowledge abstraction platform to tug scientific knowledge from hundreds of scientific charts of sufferers enrolled in ACS analysis research.
Some other corporate that makes use of herbal language processing to investigate and summarize EHRs is DigitalOwl.
DigitalOwl raised $20 million in Sequence A investment in 2022 and closing yr scored a $12 million funding from insurance coverage large Reinsurance Team of The us (RGA).
Remaining yr, DigitalOwl collaborated with Quest Diagnostics corporate ExamOne with the purpose of bettering the potency of file retrieval and research via DigitalOwl’s View product. ExamOne supplies risk-assessment equipment for the lifestyles insurance coverage trade with a set of services and products geared toward streamlining the underwriting procedure.
