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Healthcare AI company Layer Health, spun out of MIT, announced its launch with $4 million in funding from GV (Google Ventures), General Catalyst and Inception Health.
WHAT THEY DO
Layer Health’s AI platform, dubbed Distill, built on machine learning algorithms that leverage large language models, aims to streamline the chart review process from unstructured data.
The technology can be integrated into existing products and aims to help with quality measurement, curation of real-world evidence, revenue cycle management, quality measurement and registry submissions without the need for labeled data.
The company is led by David Sontag, Layer Health’s CEO and a professor at MIT, who has published more than 100 papers on AI and machine learning.
Its leadership team includes Luke Murray, who built MedKnowts and Know Your Data at Google, and Monica Agrawal, who previously built ML models for oncology-focused digital health company Flatiron Health.
MARKET SNAPSHOT
Several companies are utilizing AI to improve clinical workflow, including Dallas-based Pieces Technologies, a healthcare generative AI company for care teams.
Earlier this month, the company announced it incorporated Amazon Web Services’ genAI offerings to create Sculpted AI. This platform can tailor to health systems’ specifications and embeds AI within electronic health record clinical workflows.
In March, New York-based health technology company Florence, which focuses on clinical capacity management, launched with $20 million in seed funding in a round led by Google Ventures, Thrive Capital and Salesforce Ventures.
Florence’s platform is more patient-facing, allowing them to track their healthcare journey using a smartphone. Patients can complete intake forms, fill prescriptions, update their clinical information and schedule follow-up appointments to help ease the clinical workflow for providers.
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