Healthcare Outcome Analytics Company OM1 Closes $15 Million Series A Financing
General Catalyst leads the investment and Dr. Gary Gottlieb joins the Board of Directors as the team expands its comprehensive HIPAA-compliant system for measuring and predicting health outcomes
BOSTON, April 6, 2017 /PRNewswire/ -- OM1, a leading healthcare technology company focused on providing outcomes measurement and predictive analytics for value-based and personalized healthcare, today confirmed that it raised a series A financing round of $15 million led by General Catalyst and with participation from Glikvest, 7wire Ventures and Wanxiang Healthcare Investments. With the funding, OM1 will continue the buildout of its outcomes measurement and machine learning technology giving healthcare stakeholders a more holistic view and better understanding of real-world outcomes than has not been available until now.
Healthcare providers increasingly seek to better understand individual patient outcomes and to deliver more precise care. Life sciences researchers are looking for deeper clinical insights into the patient journey and the effectiveness and safety of their products. Simultaneously, insurers, including the federal government, are exploring value and outcomes-based payment models. OM1 has created a scientifically robust and clinically meaningful approach that provides a detailed level of outcomes information by leveraging big clinical data and artificial intelligence (AI) to enable stakeholders across the healthcare ecosystem to have more precise information for better decision-making.
"There is more data than ever to consider in determining value and satisfaction in healthcare," said Larry Bohn, managing director, General Catalyst and board member, OM1. "Rich and his team are helping to turn that data into actionable insights and ultimately, to transform today's healthcare organizations into dynamic, always-learning health systems."
The OM1 system gathers, synthesizes, enriches, and leverages clinical data to provide measurements and AI-driven insights and predictions that can improve clinical, financial, and operational management. The system's analytics can help healthcare organizations better optimize care for both individuals and populations, can inform smart supply chain decisions, and can provide a clearer link between outcomes and value — enabling risk-bearing entities to succeed under value-based care.
"To improve healthcare across the board we need to fundamentally understand real world results and become much better at both predicting at-risk patients and assessing potential treatment options for them," said Rich Gliklich, founder and CEO, OM1. "The system that we're building at OM1 will give providers unprecedented insight on the relationship between care and outcomes, helping them to avoid high cost events and ultimately provide the best care possible. At the same time, we're focused on helping researchers and payers to more quickly and accurately generate real-world evidence and better understand the connection between outcomes and value."
OM1 is focused on solutions that enable healthcare providers to meet value-based requirements, lower costs, and improve quality; life sciences researchers to better understand and improve real-world outcomes and to demonstrate and contract on value; and payers to better understand populations and risks and create accountability based on outcomes. The platform personalizes healthcare data drawing insights from a tremendous repository of data combined with advanced machine and deep learning algorithms.
The inspiration for OM1 comes from Dr. Richard Gliklich, an Executive-in-Residence (XIR) at GC and the founder of Outcome, a technology and services company focused on real world research and health outcomes that was acquired by Quintiles in 2011. Dr. Gliklich is also the principal investigator for a major federal effort focused on outcomes measurement and standardization.
The funding announcement follows the addition of Gary Gottlieb, MD, MBA, the CEO of Partners in Health and former President and CEO of Partners HealthCare, to the OM1 board of directors last year. In addition to his role at Partners in Health, Dr. Gottlieb is a professor of psychiatry at Harvard Medical School and serves as the chairman of the board of directors of the Federal Reserve Bank of Boston.
For more information, visit www.om1.com.
About OM1
OM1 is a leading healthcare technology company focused on providing outcomes measurement and predictive analytics for value-based and personalized healthcare. Leveraging big clinical data, standardized outcomes measures, and artificial intelligence technology, OM1 delivers a scientifically robust and clinically meaningful approach to enable stakeholders across the healthcare ecosystem to improve clinical and financial outcomes with more precise information for better decision-making. Learn more at www.om1.com.
SOURCE OM1
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