Seed-funded startup Carenostics is applying AI to health system EMR data to help end the underdiagnosis and undertreatment of common chronic diseases, starting with chronic kidney disease and asthma. The extra-clever part of this? Their software is FREE for health systems, thanks to health plans and pharma companies (a.k.a. those who directly financially benefit from the early identification of these patients) agreeing to step up and foot the bill.
Co-Founder & COO Kanishka Rao talks us through the tech, which identifies at-risk populations using data that already exists in the health system’s EMR, then activates those insights within existing clinician workflows. “I think a lot of folks underestimate how much data and insight IS available just in that existing data there.” he explains.
But, he and his co-founder father, Bharat Rao (who Kanishka describes as one of the “pioneers” of healthcare machine learning, thanks to leadership stints at Siemens and KPMG) have taken this a step further...
Learning from years of experience and the failed one-size-fits-all AI models that have plagued the industry, Carenostics has opted instead to tailor their tech to each unique health system they work with - leaning into the benefits of localized healthcare data, which more accurately reflects the way that individual system practices medicine and the way their clinicians collect data (how they collect it, when, and why). It also provides the best chance for their algorithm to identify patients from historically marginalized populations, effectively working against health disparities and helping those who have suffered most from underdiagnosis of chronic conditions.
With all the AI hype in healthcare right now, how do we know Carenostics the real deal? We get into it… Outcomes data? Check it out. More details on that slick business model where payers and pharmas support a provider’s ability to deliver better care? Check. Insight on “bias-adjusted machine learning” and how it can help solve for health equity? You know it. And, how about having early backing from Bayer, then landing $5M in seed funding, from notable health tech investors like M13, Greatpoint Ventures, Gaingels, and Humana’s Chairman Kurt Hilzinger, who’s now on their healthcare hero-studded advisory board? Yep, we get into that too. Tune in now!
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