Businesswire | June 01, 2023
Apollo Intelligence (Apollo), a leading provider of real-time global data and insights to the healthcare and life science industries, announces the launch of its next-generation market insights technology platform to support rapid insights and data collection in the healthcare and life science industries. The advanced platform is fueled by the company’s ongoing investments in its core technologies, propelled by machine learning (ML) and artificial intelligence (AI).
With a modern enterprise data architecture, built from best-in-class technologies, Apollo’s next-generation platform provides customers with advanced capabilities to support their progressive insight and data needs. The platform uses ML sampling intelligence to reach global healthcare professional (HCP) panelists with higher efficiency, offering the right research opportunities to the right HCP stakeholders, at the right place and time. This new, advanced capability fosters a seamless cycle of targeted interaction and ongoing engagement that enables greater speed-to-insight and higher quality data. For HCPs, Apollo’s enhanced routing capabilities mean they receive more relevant and matched opportunities to share their expertise and amplify their voice.
Capabilities currently rolling out in beta include
natural language processing (NLP) advancements in open text analysis for tagging, coding, ML-enhanced adverse event (AE) detection, and reporting.
ML-based honoraria optimization for panel engagement.
dynamic profiling and validation.
In the second half of 2023, these foundational capabilities will support further ML and AI advancements focused on sentiment analysis for free text, survey automation, and expanded global capabilities.
“Apollo has been on a multi-year, multimillion-dollar journey building towards this moment when our investments in data and technology would allow us to take advantage of advances in machine learning and data science applications to provide our clients with an unmatched service experience,” said Daniel S. Fitzgerald, president and CEO of Apollo Intelligence. “Life science companies will be able to see the immediate impact in speed and data quality as we leverage machine learning to intelligently sample our HCP communities for data collection. These advances are just the beginning for Apollo as we continue our innovative journey and extend our robust roadmap to deliver higher quality data, speed-to-insight, and advanced analytics and data visualization for our clients.”
Apollo has made sizable investments in its platform since 2019 in anticipation of this launch. Its relationship with Frazier Healthcare Partners, in June 2022, has accelerated investment in these areas, with Frazier and Apollo sharing a vision for technological innovation within the healthcare data and insights market. The Frazier Data and AI Center of Excellence has been an instrumental partner in rapidly advancing these modern elements and realizing Apollo’s technology vision.
Apollo’s mission is to accelerate health innovation to improve life. In 2019, Apollo launched with the acquisition of InCrowd, a pioneer of real-time, automated insights for the life science industry. In 2020, Apollo strengthened its global reach by acquiring Survey Healthcare Global, a global market leader of first-party healthcare data collection and custom survey solutions. Apollo provides access to 2 million healthcare stakeholders worldwide—including physicians, patients, caregivers, and allied healthcare professionals. Apollo’s 250+ employees support top global pharmaceutical brands, market research agencies, and consultancies across 13 different countries in the Americas, Europe, and Asia. Apollo is a portfolio company of Frazier Healthcare Partners.
HEALTH TECHNOLOGY, HEALTHCARE ANALYTICS
PRNewswire | May 31, 2023
Marpai, Inc. an artificial intelligence (AI)-powered healthcare payer transforming self-funded employer health plans, is proud to announce the launch of its innovative platform, Marpai Connect.
Marpai Connect, an AI and data-driven matchmaking platform, actively pairs health plan members with an array of value-based providers. Marpai Connect offers self-insured employers a way to reduce risk and cost associated with their healthcare spending. Marpai Connect will be a core part of Marpai's offerings within health plans that it manages for self-insured employers. It includes analytics to measure the impact of the value-based solutions over time versus the current trend.
Marpai also intends to offer Marpai Connect to other healthcare payers starting in Q4 of this year.
"We realized that chronic diseases are currently representing 41% of the cost across our book of business", said Lutz Finger, Marpai's President of Product and Development. To address those costs, Marpai Connect started to partner with the best value-based solutions for chronic conditions. As of June 2023, Marpai Connect will offer more new vendors.
Edmundo Gonzalez, CEO of Marpai, emphasized, "There are amazing, evidence-based solutions that are very specific to a condition, like diabetes, but our clients need a portfolio of solutions covering all the cost drivers of a health plan. That's what Marpai Connect delivers." To monitor the cost drivers, Marpai Connect has created a new AI driven forecasting solution so that Marpai Connect clients can keep track of the reduction of cost.
The cornerstone of Marpai Connect's distinctive approach is its use of advanced deep learning technologies, which enable the proactive identification and outreach of health plan members in need. "Marpai Connect is not just about reporting cost trends, rather we're helping plan members improve their health and this leads to savings for employers," asserted Mr. Gonzalez.
Marpai Connect aims to create more quality life years for its members. "We have ambitious plans", said Mr. Finger. "We aim to grow our value-based-care network to cover more than 15 different disease states."
The launch of Marpai Connect signifies Marpai's dedication to revolutionizing the healthcare industry. By harnessing AI and data, Marpai is transforming the landscape of self-funded health plans, providing a higher quality of care while effectively managing costs.
About Marpai, Inc.
Marpai, Inc. is an AI-powered Third Party Administrator (TPA) delivering health plan administration and services to employers that directly pay for employee health benefits (self-funded employer health plans). As a technology innovator in the $22 billion TPA sector representing over $1 trillion in annual claims, Marpai includes services beyond traditional TPA services that improve health plan value to members, and significantly reduce medical and pharmaceutical costs for members and the plan.
PRnewsiwire | June 05, 2023
Carrum Health today announced an oversubscribed $45 million Series B financing led by OMERS Growth Equity. Revelation Partners joined the round along with return investors Tiger Global, Wildcat Venture Partners, Cross Creek and SpringRock Ventures. Carrum Health will use the funding to expand its growing oncology benefit offerings and scale its surgical care service lines to give employees access to the top 10% of doctors and providers across the country while helping employers control healthcare spending.
Teresa Lee, managing director of OMERS Growth Equity, will join Carrum Health's board of directors.
"We are very excited to partner with Carrum Health, a pioneering and differentiated player in the healthcare space, that offers an innovative, scalable approach in the shift to value-based care. With its Centers of Excellence (COE) network, digital platform and data-driven surgical episode bundling capabilities, Carrum Health has created a solution that allows for real-time and measurable value to employers, as well as a superior patient and clinician experience," said Lee. "The company is well-positioned to transform how healthcare is delivered and paid for, and we look forward to supporting the management team in realizing that vision."
Carrum Health's unique value-based program addresses acute care scenarios, such as orthopedic surgery and cancer treatment, which accounts for nearly half of total employer spend. Carrum Health's COE solution not only reduces unnecessary procedures by as much as 30%, leading to better patient outcomes, it can result in savings of up to 45% per care episode, according to a published study by the RAND Corporation.
"Every business in America is looking to manage costs, but they can't afford to sacrifice the benefits they offer employees. Carrum Health firmly believes that the path to reducing healthcare costs starts with delivering higher quality care," said Carrum Health CEO Sach Jain. "Our COE solution is proven to deliver significant savings on healthcare spend and generate measurable cost savings within the first year of deployment. In a time when employers are looking to consolidate benefits, we've seen 100% year-over-year growth in new customers and zero churn of existing customers."
Carrum Health has seen formidable momentum with its pioneering oncology COE offering and currently partners with top cancer care providers across the country, including AccessHope LLC, City of Hope, GRAIL LLC, Memorial Sloan Kettering Cancer Center and University of Chicago Medicine. In 2022 alone, the company added six new partners, including CVS, Included Health, Accolade, Rightway, SWORD Health and Virgin Pulse.
About Carrum Health
Carrum Health is a value-based healthcare platform delivering higher quality care while helping self-funded employers immediately reduce their spend for the most prevalent and costly conditions including cancer, musculoskeletal, cardiovascular, and bariatric. Utilizing a Centers of Excellence (COE) network, with an all-inclusive pricing model and 30-day warranty on care, Carrum members receive surgical and cancer treatment guidance and coordination through the entire care journey with upfront pricing, ensuring the highest quality, most appropriate care. Carrum reduces unnecessary procedures by as much as 30% and aligns cost and care incentives to save employers up to 45% per episode of care, all validated by peer-reviewed publications. Carrum's award-winning technology gives members access to a mobile app and Care Specialist that guides them through the surgery process, and a seamless platform integration to make COE adoption plug-and-play for employers. Backed by OMERS Growth Equity and Tiger Global, Carrum was named to the 2021 CB Insights Digital Health 150 and named one of the best places to work in 2022 by Built In. The company, founded in 2014, is headquartered in Silicon Valley.