New York-based health IT company Prognos recently secured $20.5m in Series C financing to build out its artificial intelligence capabilities, which it has applied to a giant diagnostic laboratory registry containing data from some 180 million patients. Given the shift to value-based health care and the high costs of treating chronic diseases, insurers might use information from this registry to predict the likelihood of disease and reach out to members to help head off illnesses. Pharma clients, in turn, can use the data to target physicians to help them deliver effective treatments.
The shift toward value-based health care has created an ever-growing need for technology companies that apply artificial intelligence, or machine-learning-enabled algorithms, to large sets of data and extract valuable information that can be used by companies and providers to create better outcomes.
One of these companies, New York-based startup Prognos, formerly known as Medivo, last November raised $20.5m in Series C funding...