Oasys Well beinga behavioral well being startup, has raised $4.6 million in funding to develop its AI-powered platform, the corporate introduced on Wednesday.
The New York-based firm helps behavioral well being organizations by automating duties like documentation, scribing, billing, scheduling and insurance coverage reimbursements. It additionally syncs with wearables and apps just like the Apple Watch, Oura Ring, Strava and Flo to assist suppliers perceive sufferers’ wellbeing.
“Oasys has the bigger purpose of constructing psychological well being extra goal and measurable and data-driven. We’re constructing the working system for contemporary psychological well being,” mentioned Hashem Abdou, co-founder and CEO at Oasys, in an interview. “Oasys helps clinics run their practices with AI automation, whereas giving the clinicians real-time insights from wearable units and from different sources of information, affected person information particularly, in order that remedy isn’t only a weekly dialog, however extra of a steady and data-informed care journey.”
The $4.6 million in funding included a $4 million seed spherical led by Pathlight Ventures, with participation from Twine Ventures and Higher Ventures, in addition to $600K pre-seed funding from 1984 Ventures.
“Oasys is defining a brand new class in psychological well being care, transferring past legacy EHRs and fragmented level options to construct a very complete information spine,” mentioned Charley Ma at Pathlight Ventures, in an announcement. “The corporate’s founding workforce has the technical depth and execution velocity to set a brand new normal for the way the world clinically understands and helps psychological well being. It’s an honor to be a part of their journey on the distinctive intersection of AI, information infrastructure, and medical care.”
With the financing, Oasys will enhance its AI platform, deepen its integrations with wearables and well being apps, develop its engineering and information science groups and broaden its partnerships with suppliers, in accordance with Abdou.
The world is at the moment dealing with a psychological well being disaster, and on the identical time, the psychological healthcare system may be very outdated and reactive, in accordance with Abdou. Whereas different areas of healthcare have embraced information and automation, psychological well being is behind, leading to varied issues, he argued.
“One is clinicians which might be overwhelmed and overburdened,” he mentioned. “There’s a ton of admin work that they must take care of, in order that’s simply much less time that they’re able to spend on delivering higher high quality look after sufferers. And on account of that, clearly, sufferers are handled way more episodically, and infrequently search therapy actually as soon as issues actually get unhealthy and attain a breaking level. What we’re attempting to do is shut that hole and produce the precision of recent medication to psychological well being care as properly.”
There are different firms that present elements of what Oasys does, in accordance with Abdou. For instance, Abridge presents ambient scribe providers — although it doesn’t concentrate on behavioral well being. What differentiates Oasys is that it’s the “working system” that mixes the EHR, AI copilot and real-world information in a single place, Abdou mentioned.
Photograph: dan, Getty Pictures
