Seattle Children’s spin-out MDMetrix raises $3M to unlock data from medical records

Seattle Children’s spin-out MDMetrix raises $3M to unlock data from medical records

11:24am, 14th May, 2019
(MDMetrix Photo) Imagine knowing that all the data you need to do your job better was locked in a system that you couldn’t access. That’s the frustrating reality for many healthcare workers who aren’t able to extract useful data from their hospital’s electronic medical records systems. Seattle startup just landed $3 million to make medical records more useful with a product that lets caregivers ask data-driven questions about their patients. Warren Ratliff. (Warren Ratliff Photo) The seed round was led by Founders’ Co-op along with investors Arnold Venture Group and WRF Capital. , CEO at MDMetrix, said the company plans to use the money to speed up its plans and apply artificial intelligence to help clinicians filter out “the signal from the noise” of patient data. The idea behind MDMetrix is to give healthcare workers the ability to track improvements over time. “We give clinicians visibility they’ve never had before into what’s going on. They’re able to ask questions on the fly. They’re able to really manage clinical operations in a continuously improving way,” said Ratliff. The company, which has raised more than $4 million to date, was started in 2016 by , an anesthesiologist at Seattle Children’s Hospital. It employs around a dozen full-time and contract staff. Seattle Children’s uses MDMetrix at its main campus hospital and surgery center, but the company declined to talk about its other customers. Dr. Dan Low, an anesthesiologist and co-founder of MDMetrix. (GeekWire Photo / Clare McGrane) Electronic health records are a popular punching bag. They’ve been blamed for everything from among doctors to . “Something’s gone terribly wrong. Doctors are among the most technology-avid people in society; computerization has simplified tasks in many industries. Yet somehow we’ve reached a point where people in the medical profession actively, viscerally, volubly hate their computers,” wrote Haven CEO Atul Gawande last fall. Haven is a healthcare joint venture between Amazon, JPMorgan Chase and Berkshire Hathaway. Ratliff says the frustration doesn’t just come from the countless hours spent clicking around poorly-designed interfaces. Doctors are also fed up with not being able to use data from the health record to answer questions. Ratliff joined the company last August. He was previously co-founder and COO of Caradigm, a healthcare joint venture between GE Healthcare and Microsoft. MDMetrix essentially tries to make it as easy as possible for a licensed practitioner to find answers to basic questions related to patient care. Ratliff said the interface was designed to be as easy to use as the Airbnb app. The platform also brings together key metrics into a control center for leaders and staff to monitor. The idea is to avoid a situation in which important questions go unasked and unanswered. With more useful data, clinicians can more easily establish best practices. Ratliff contrasts the situation facing medical professionals with that of a chief financial officer, who has tools to easily see high-level profit-and-loss statements as well as granular expenses. “In medicine, we’ve tolerated a system where clinicians don’t have the visibility you would expect in any other kind of industry or business,” Ratliff said. “Imagine trying to run a complex financial organization with a spreadsheet. There are just better ways of doing that.”
Dandelion Energy, the Alphabet X spinout, raises another $16M led by GV and Comcast

Dandelion Energy, the Alphabet X spinout, raises another $16M led by GV and Comcast

11:45am, 12th February, 2019
As tech companies continue their race to control the smart home, a promising energy startup has raised a round of funding from traditionally-tech and strategic investors, for a geothermal solution to heat and cool houses. , a spinout from Alphabet X, has raised $16 million in a Series A round of funding, with strategic investors Comcast Ventures leading the round along with GV, the investment arm of Alphabet formerly known as Google Ventures. Lennar Corporation, the home building giant, is also coming in as an investor, as are previous backers NEA, Collaborative Fund, Ground Up, and Zhenfund, and other unnamed investors. Notably, Lennar once worked with Apple but is now . As a side note, Dandelion’s investment is a timely reminder of how central “new home” startups are right now in smart home plays. Amazon just yesterday announced one more big move in its own connected home strategy with the , which helps extend the range and quality of WiFi coverage in a property. This is the second funding round for Dandelion in the space of a year, after the company raised a seed round of, a mark of how the company has been seeing a demand for its services and now needs the capital to scale. In the past year, it had accrued a waitlist of “thousands” of homeowners requesting its services across America, where it is estimated that millions of homeowners heat their homes with fossil fuels, which are estimated to account for of all carbon emissions. The company is based out of New York, and for now New York is the only state where its services are offered. The funding may help change that. It will be used in part for R&D, but also to hire more people, open new warehouses for its equipment and supplies, and for business development. Dandelion is not disclosing its valuation, but in its last round the company had a modest post-money valuation of $15 million, according to . It has now raised $23 million in total since spinning out from Alphabet X, the company’s moonshot lab, in May 2017. The premise of Dandelion’s business is that it provides a source of heating and cooling homes that takes people away from consuming traditional, energy grid-based services — which represent significant costs, both in terms of financial and environmental impact. If you calculate usage over a period of years, Dandelion claims that it can cut a household’s energy bills in half while also being significantly more friendly for the environment compared to conventional systems that use gas and fossil fuels. While there have been a number of efforts over the years to tap geothermal currents to provide home heating and cooling, many of the solutions up to now have been challenging to put in place, with services typically using wide drills and digging wells at depths of over 1,000 feet. “These machines are unnecessarily large and slow for installing a system that needs only a few 4” diameter holes at depths of a few hundred feet,” Kathy Hannun, cofounder and CEO of Dandelion, has said in the past. “So we decided to try to design a better drill that could reduce the time, mess and hassle of installing these pipes, which could in turn reduce the final cost of a system to homeowners.” The smaller scale of what Dandelion builds also means that the company can do an installation in one day. While a pared-down approach this means a lower set of costs (half the price of traditional geothermal systems) and quicker installation, that doesn’t mean that upfront costs are non-existent. Dandelion installations run between $20,000 and $25,000, although home owners can subsequently rack up savings of $35,000 over 20 years. (Hannun noted that today about 50 percent of customers choose to finance the installation which removes the upfront cost and spreads it out across monthly payments.) This is also where Lennar comes in. The company is in the business of building homes, and it has been investing in particular in the idea of building the next generation of homes by incorporating better connectivity, more services — and potentially alternative energy sources — from the ground up. “We’re incredibly excited to invest in Dandelion Energy,” said Eric Feder, Managing General Partner for Lennar Ventures, in a statement. “The possibility of incorporating geothermal heating & cooling systems in our new homes is something we’ve explored for years, but the math never made sense. Dandelion Energy is finally making geothermal affordable and we look forward to the possibility of including it in the homes Lennar builds.” The fact that Comcast is among the investors in Dandelion is a notable development. The company has been , and taking in, a number of as it builds its own connected home offering, where it not only brings broadband and entertainment to your TV and come computers, and also provides the tools to link up other connected devices to that network to control them from a centralised point. Dandelion is “off grid” in its approach to providing home energy, and while you might think that it doesn’t make sense for a company that is investing in and peddling services and electronic devices connected to a centralised (equally electricity-consuming) internet to be endorsing a company that’s trying to build an alternative, it actually does. For starters, Dandelion may be tapping geothermal energy but its pump uses electricity and sensors to monitor and moderate its performance. “Dandelion’s heat pump is a connected device with 60 sensors that monitor the performance and ensures that the home owner is proactively warned if there are any issues,” Hannun said in an interview. “This paves the way to operate it in a smart way. It’s aligned with the connected home.” In other words, this positions Dandelion as one more device and system that could be integrated into Comcast’s connected home solution. Aside from this, view in terms of the segment of customers that Comcast is targeting, it’s selling a bundle of connected home services to a demographic of users who are not afraid of using (and buying) new and alternative technology to do things a different way from how their parents did it. Dandelion may not be “connected” but even its approach to disconnecting will appeal to a person who may already be thinking of ways of reducing his or her carbon footprint and energy bills (especially since they may be consuming vast amounts of electricity to run their connected homes). “The home heating and cooling industry has been constrained by lack of innovation and high-costs,” said Sam Landman, managing director of in a statement. “The team at Dandelion and their modern approach to implementing geothermal technology is transforming the industry and giving consumers a convenient, safe, and cost-effective way to heat and cool their homes while reducing carbon emissions.” Landman and Shaun Maguire, a partner at will both be joining Dandelion’s board with this round. “In a short amount of time, Dandelion has already proven to be an effective and affordable alternative for home heating and cooling, leveraging best-in-class geothermal technology,” said Maguire, in a statement. “Driven by an exceptional leadership team, including CEO Kathy Hannun, Dandelion Energy is poised to have a meaningful impact on adoption of geothermal energy solutions among homeowners.”
Univ. of Washington spinout takes on $5.2B scheduling problem with custom AI analytics

Univ. of Washington spinout takes on $5.2B scheduling problem with custom AI analytics

12:00pm, 9th May, 2018
(Bigstock Photo)stock Hospitals have to solve a thousand logistical challenges every day, but perhaps none are more difficult than operating room schedules. Surgeries can be difficult to predict — in fact, less than half of surgeries in the U.S. start and end on time. That can create chaos for patients and doctors, and costs hospitals $5.2 billion every year, according to University of Washington . The startup, which develops a variety of technologies for hospitals, is taking aim at the operating room problem with a new AI technology that uses data on patients and surgeons to more accurately predict how long each surgery will take. The startup recently deployed the technology at a large academic medical institution in Seattle. So far, it has cut the number of surgeries that run over their scheduled time by 20 percent, a result that could save a hospital $1 million a year in staff overtime alone. Perimatics Co-Founder and CEO Kalyani Velagapudi. (Perimatics Photo) The startup is still studying how its technology affects underage, or the number of surgeries that end before the predicted time, and other elements including patient and employee satisfaction. Perimatics’ algorithm begins by looking at a patient’s data and seeking out information that will affect how long the surgery takes, like the patient’s prior surgeries and their age. , Perimatics co-founder and CEO, told GeekWire that the surgeons themselves also have a big impact on how long a surgery takes. Each surgeon approaches an operation differently and will bring in various factors that affect the length of the operation. “That was a surprise,” said , Perimatics’ chief solutions architect and co-founder. “We had to build machine learning models customized for each surgeon.” The algorithm also takes into account the staff that will work on the procedure, like anesthesiologists. It can also suggest last-minute scheduling adjustments when operating rooms are needed for emergency procedures. Bala Nair, Perimatics’ co-Founder and chief solutions architect. (Perimatics Photo) The end goal is to help hospitals cut down the $5.2 billion a year that results from overage and underage in surgeries. In addition to staff overtime costs, operation rooms cost an estimated to run, so any variation from the set schedule can quickly become extortionate. That’s not to mention factors like patient and employee dissatisfaction, which is also a common side effect of scheduling challenges. Although this is the first time the technology has been deployed in a hospital system, Nair said it is easily scalable. Now that Perimatics has worked out which factors impact surgery length, the basic framework can be applied to almost any hospital, he said. Velagapudi said the startup is continuing work on its other AI technologies, including its Smart Anaesthesia Manager. That program, invented by Bala, analyzes a patient’s health metrics in real-time during surgery and helps doctors make decisions that have a big impact on a patient’s health when they are recovering. She also said the company is working on new solutions for post-surgery problems and surgical supplies. “It is quite different from the data science that is being done on the market today because it is real time,” Velagapudi said of the startup’s work. Perimatics spun out from the University of Washington last year and currently employs 7 at its headquarters in Bellevue, Wash. It is also a partner of , the tech giant’s startup assistance program.