TLDR:
– Siftwell Analytics secures $5.8 million in funding in its first venture capital round led by former Cardinal Innovations Healthcare executives.
– The company focuses on using machine learning and AI to improve member outcomes in community health plans.
Full Article Summary:
Digital health company Siftwell Analytics has successfully secured $5.8 million in their first venture capital funding round to enhance their product offerings for community health plans. Co-founded by former Cardinal Innovations Healthcare CEO Trey Sutten and General Counsel Chuck Hollowell, the company aims to leverage machine learning and AI to proactively improve member outcomes. VC firms AlleyCorp, Arkin Digital Health, Tau Ventures, and The Charlotte Fund participated in this funding round, showing confidence in Siftwell’s potential.
Siftwell Analytics currently focuses on major health conditions such as COPD, depression, hypertension, and obesity. The company aims to expand its reach by addressing more areas of population health, including health-related social needs or Social Determinants of Health (SDOH) factors to make interventions more actionable. They operate in four states and plan to expand further.
By utilizing data like claims, health risk assessments, and call center data from health plans, Siftwell Analytics employs machine learning to identify patterns that determine compliance with quality score measures like HEDIS. The company can then group members based on specific needs and preferences to deliver personalized and actionable solutions. This approach has shown promising results in anticipating future costs and improving health outcomes for members.
Investors and industry partners have shown enthusiasm for Siftwell Analytics’ innovative approach, aiming to address the needs of the most vulnerable populations effectively. With a focus on improving quality scores, cost profiles, and member behaviors, Siftwell Analytics is poised to make a significant impact in the digital health space and transform the way clinical operations teams within community health plans work.
