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.
Dreamit introduced its first cohort in 2013. Over the years more than 100 companies have gone through the program, according to Steve Barsh, managing partner at Dreamit.
Although Dreamit’s cohort is primarily digital health companies, it also works with medical device startups as well. A typical cohort is made up of about 75 percent digital health startups and 25 percent medical device companies, Barsh said.
“The whole program really is focused on getting companies to a successful fundraising [round],” Dakin said.
After companies go through the mentorship and development stage, Dreamit sets up face-to-face meetings between the startups and venture firms that might be interested in investing. On average, 50 percent of a cohort will complete a fundraising round within six months of being part of the accelerator.
Dreamit doesn’t write a check to the company off the bat, although it does have an opportunity to invest in the next round of funding.
While many of the startups in the latest round use similar technology or have a similar focus area, their products vary. Infermedica, for example, is an AI company that aims to help patients chose their care based on their symptoms. It uses an advanced reasoning technology to perform preliminary diagnostic interviews.
“Infermedica’s platform is used to help [customers] diagnose with a simple … self-diagnostic tool,” Dakin said. “Today, most patients will self diagnose by doing a Google, which will often result in a misdiagnosis or anxiety.”
Another cohort startup, Trials.ai, is also using AI, but their goal is to leverage the technology to improve clinical trial protocol recommendations, automate study design, and optimize day-to-day execution of the trials.
Below is a full list of the nine startups for Dreamit Health’s spring 2018 cycle:
Giblib creates a comprehensive library of surgical procedures and medical lectures. The library can be accessed on the web, on mobile, and in virtual reality.
HealthTensor is an artificial intelligence company that reviews patient data, diagnoses common conditions, and creates documentation for clinicians.
Infermedica gives patients the tools to look up cost-efficiency means of care based on their symptoms, and can perform a virtual preliminary diagnostic review.
McCoy Health coordinates care with providers by giving real-time patient data. It is aimed at helping care teams coordinate and communicate.
Praos Health aims to fill in the staffing shortage by deploying qualified nursed to healthcare organizations. Providers can look at nursing credentials and availability.
Tailored Care is a predictive care management system that standardizes assessments, decision algorithms, care planning tools, and community resources in order to delay putting a senior in an assisted living situation.
Trials.ai uses AI to help improve trial protocols, design, and execution.
Vitls is a remote patient monitor that patients can wear. It can monitor vital signs, and send those directly to an EHR.
Vytalize Health is a platform of tech-enabled services tailored towards independent primary care providers to help them expand their fee-for-service primary care and transition to a risk-based payment model.