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Marina del Rey-based HealthTensor mines electronic medical records for conditions that physicians might overlook. The company’s app then flags those conditions for the doctors. Eli Ben-Joseph, one of three founders, is HealthTensor’s chief executive. How did you get the idea for the software that HealthTensor has been developing? I and two of my friends – one a buddy of mine from MIT and the other from the Boston area – saw that doctors typically spend 10-15 minutes with a patient, glancing at the electronic medical records, perhaps asking a few questions.
HealthTensor, a Los Angeles, California-based startup creating software to augment medical decision-making, today announced it has raised $5 million. The company says the funds will be used to scale up operations and acquire new customers. The global market for big data analytics in health care was valued at $16.87 billion in 2017 and is projected to reach $67.82 billion by 2025, according to a recent report from Allied Market Research. It’s believed that health care organizations’ implementation of big data analytics might lead to a more than 25% reduction in annual costs in the coming years.
Early stage venture firm and accelerator Dreamit Health has just announced its latest healthcare cohort, which is largely made up of digital health startups. This round, companies working with artificial intelligence, cost efficiencies in hospitals, and clinician care efficiencies were the most popular topics in the cohort, according to Adam Dakin, Dreamit Health managing director. The full cohort includes HealthTensor, Giblib, Infermedica, McCoy Health, Praos Health, Tailored Care, Trials.ai, Vitls, and Vytalize Health. Teams that make it into the cohort are given 14 weeks of training and mentorship. “The three pillars of the program are coaching, customers, and capital. The first phase is an intense deep dive into value, and tightening up their proposition, all with the goal of getting ready to fundraise,” Dakin told MobiHealthNews.
SXSW has announced 50 finalists for the SXSW Accelerator Pitch Event. Half of these startups will demo their talents on Saturday, March 10, and the remaining 25 on Sunday, March 11. Winners in 10 categories will be honored at the Accelerator Award Ceremony, 7 pm on Sunday, March 11, at the Hilton Austin. The SXSW Accelerator Pitch Event takes place within the Startup & Tech Sectors track of programming. Based in Santa Monica, Calif., HealthTensor uses artificial intelligence to automatically review all patient data, diagnose the most common medical conditions and create documentation for physicians. These evidence-backed notes save physicians time, ensure that diagnoses are not missed and improve finances for physicians and hospitals. See their pitch and the other finalists in Health and Wearables Technology at 5 pm Sunday, March 11, in Salon AB of the Austin Hilton.