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Insight Venture Partners Invests $26M Series B in LeanTaaS to Fuel Growth of Healthcare Operations Platform

Predictive Analytics and Machine Learning Technology Lowers Wait Times, Increases Patient Access and Improves Operational Performance

SANTA CLARA, Calif. — Nov. 14, 2017 — LeanTaaS, Inc., a Silicon Valley software innovator that increases patient access and transforms operational performance for healthcare providers, today announced that new investor Insight Venture Partners, a leading global venture capital and private equity firm, has invested $26 million in a Series B round of financing.

“Healthcare is a difficult space in which to bring about radical change,” said Jeff Horing, co-founder and managing director of Insight Venture Partners. “We are impressed by the quality of deep customer partnerships, the product portfolio and the team that LeanTaaS has assembled.”

The company’s solutions — relied upon by more than 40 of the nation’s leading hospitals and infusion centers — use lean principles, predictive analytics, machine learning and the cloud to dramatically improve the patient experience. LeanTaaS customers have reduced wait times for appointments and surgeries by up to 50 percent, increased patient access by as much as 30 percent and improved operational performance up to 20 percent through increased revenue and reduced costs.

The mathematical foundation on which patient appointments are scheduled is fundamentally flawed. As a result, expensive assets like infusion chairs, operating rooms, diagnostic imaging equipment and inpatient beds are commonly over- and underutilized, often on the same day.

LeanTaaS has quickly emerged as the leader in using advanced data science and mathematics to address this perplexing paradox. The company’s patent-pending algorithms help providers do more with existing assets and defer investments in additional staff, equipment and facilities. LeanTaaS solutions also improve surgeon access to valuable operating room time, lower wait times for patients and level-load the day for anesthesiologists, nurses and staff.

“We are privileged to work with many of the leading health systems in the country to demonstrate the impact of combining lean principles, predictive analytics and scalable software to drive significant improvements in operational performance and asset utilization,” said Mohan Giridharadas, founder and CEO of LeanTaaS. “This investment from Insight Venture Partners is a strong validation of our approach and will enable us to dramatically accelerate our growth over the coming years.”

The financing will fund continued investment in the LeanTaaS iQueue platform, which currently consists of two solutions: iQueue for Infusion Centers and iQueue for Operating Rooms. In May 2017, the company also established iQueue Labs, which explores answers to emerging, significant operational challenges in diagnostic imaging departments, emergency departments, pharmacies, labs and inpatient beds. The iQueue platform is a cloud service that works with any electronic health record and requires only minimal assistance by the provider’s internal IT staff to set up and use.

LeanTaaS joins an Insight Venture Partners portfolio that already boasts five companies on Inc.’s annual ranking of the fastest-growing private companies in America.

About LeanTaaS

LeanTaaS provides software solutions that combine lean principles, predictive analytics and machine learning to transform hospital and infusion center operations. More than 40 providers across the nation rely on the company’s iQueue cloud-based platform to increase patient access, decrease wait times, reduce healthcare delivery costs and improve revenues. LeanTaaS is based in Santa Clara, California.  For more information about LeanTaaS, please visit www.leantaas.com, and connect on Twitter/LeanTaaSFacebook/LeanTaaSand LinkedIn/LeanTaaS.

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

November 14, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

CareSkore Releases Industry’s First Population Health Management as a ServiceTM

PHMaaSTM Provides 3rd-party Apps Full Access to Complete Suite of Machine-learning Analytics through API

Mountain View, CA – February 9, 2017CareSkore, the leader in end-to-end personalized population health management, announced today the release of its Population Health Management as a ServiceTM (PHMaaSTM), providing direct access to its extensive machine-learning analytics engine to 3rd-party applications through an API.

“PHMaaS completely changes the game for how organizations adopt population health management,” said Jaspinder Grewal, CEO of CareSkore.  “We have too many proprietary application interfaces in health care.  PHMaaS allows us to provide insights within existing applications that are already part of user workflows.  Now patient-specific clinical, financial, and behavioral risk stratification is as simple as making a seamless API call from within your existing EHR and other applications.”

CareSkore’s personalized population health management SaaS platform incorporates advanced real-time analytics and innovative AI-based patient engagement to deliver optimized quality of care.  CareSkore PHMaaS provides existing health care IT systems seamless access to its machine-learning-based, real-time analytics engine, aptly called Zeus, through a simple API call.  Now EHRs, middleware platforms, enterprise data warehouses, clinical information networks, and health information exchanges that are already deployed can provide Zeus with real-time internal clinical and claims data and have Zeus augment that with external intelligence specific to every patient on things like demographics and socio-economic characteristics.  The output is patient-specific predictive analytics with a focus on how providers can quickly operationalize those insights. 

Traditional analytics typically achieve accuracy between 60 and 70%, while CareSkore can deliver greater than 90% accuracy to help create a full view of each patient.  This superior capability is driving rapid growth, with customers increasing 1,000% and headcount rising 12x in 2016.  By the end of 2017, CareSkore expects to be deployed in hundreds of locations.

“CareSkore has dramatically simplified the implementation of advanced patient-specific analytics,” said Rohit Arora, Professor and Chairman of Cardiovascular Medicine, Chicago Medical School.  “Access through and integration with existing EHR and other apps significantly lowers the barriers to adoption and deployment.”

CareSkore will exhibit at HIMSS 17 in Orlando in booth 1623 from February 20-22, 2017. To schedule a demo of the PHMaaS solution, go tohttp://resources.careskore.com/himss-2017.

About CareSkore

CareSkore is the leading provider of personalized population health management, leveraging machine-learning to generate real-time predictive and prescriptive analytics to understand each patient you are managing, what you are managing them for, and how you are/should be managing them.  CareSkore’s AI-enhanced post-discharged engagement reduces risk of patient behaviors that could lead to poorer outcomes.  CareSkore’s end-to-end patient care management platform ensures quality results and maximum revenue with value-based contracts.

February 9, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.