A Chicago health-tech startup wants to bring some of the sophisticated tools other industries are using to health care.
Artisight Inc. aims to identify workloads and workflows of clinicians and caregivers to try to figure out which could be augmented through the use of technology like artificial intelligence, ambient sensors, computer vision and natural-language processing in a smart-hospital platform.
Led by physicians and clinicians, Artisight is leveraging these advanced technologies to reduce clinician documentation and coordination tasks, thereby allowing caregivers to increase their time for direct patient care.
The startup raised a $42 million Series B funding round that was announced this week that the company said included multiple new strategic and client health-system investors. The round, according to the company, was oversubscribed by 2.4X.
Artisight spokesperson Stephanie Lahr said the startup is well positioned to solve the challenges that health-care systems are facing, and that's one reason why it found such strong fundraising momentum.
"As a platform approach, we can deliver return on investment across a variety of spaces in the health-care ecosystem," she told Chicago Inno. "We have solutions for the patient room (and) clinic, and depending on an organization's particular problem they want to solve, there's an opportunity for them to do that."
Lahr is seeing a lot of startups in health tech provide point solutions, but Artisight wants to be a "platform solution" that's appealing to a wide range of investors.
Artisight's platform has been delivered to more than 100 hospitals — many of which returned as investors — with an additional 200 undergoing implementation.
Northwestern Medicine, for example, a client with more than 4,000 practicing physicians and twice as many nurses, saw a 52% reduction in nursing overtime, a 76% reduction in nursing turnover, and high nursing and patient-satisfaction scores after implementing Artisight's technology, according to Artisight.
