ClosedLoop

Overview
Preventive Healthcare?
Product stageSegments
Early
?
Population Health Management Solutions
?

Texas-based ClosedLoop, an AI-powered healthcare data science platform, develops predictive models that allow healthcare providers to identify at-risk patients and recommend the best course of action while reducing healthcare costs. The company leverages data from electronic health records, insurance claims, and medical device metrics to build a wide range of off-the-shelf predictive models and workflow automation solutions for common healthcare use cases. The company says it can build models in 24 hours with more than 2,000 features and takes two weeks to deploy to the customer. The predictive models offered by the company include preventable hospitalizations, readmissions, chronic disease onset, medication adherence, member churn, and out-of-network utilization.  

The company’s clients include healthcare providers, payers, health insurance companies, and digital health companies. ClosedLoop’s customers have the flexibility to use the company’s platform to build their own predictive models or request the company to develop custom models based on their requirements. 

Founded in 2017, the company gained popularity after releasing an open-source, predictive model that identifies people who are likely to experience severe complications from Covid-19. The model has allowed healthcare organizations to identify 10 million people. ClosedLoop’s client base includes national healthcare organizations such as Palm Beach ACO, Booz Allen Hamilton, Healthfirst, and Medical Home Network. In the long term, the firm plans to triple the number of lives covered via partnerships with healthcare organizations. In 2021, ClosedLoop increased revenue by 4x YoY.

The company concluded a Series B funding round in August 2021 after winning the USD 1.6 million CMS AI for Health Outcomes Challenge in April 2021, beating 300 participants in the competition. With total funding of USD 43 million as of August 2021, the company plans to improve accessibility to its platform and explore more AI applications in healthcare, such as the risk of fall-related injuries, opioid abuse, and developing rare diseases.

HQ location:
512 E Riverside Dr. Austin TX USA
Founded year:
2017
Employees:
51-100
IPO status:
Private
Total funding:
USD 49.1 mn
Last Funding:
USD 25.0 k (Series Unknown; Aug 2022)
Key competitors
 
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Product Overview
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Company profile
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EDGE Insights

Predicting the future of healthcare with ClosedLoop.ai CEO Andrew Eye

Recent Updates

Partnerships
Nov 10, 2021
Olive partners with ClosedLoop.ai to introduce predictive analytics in hospitals
Preventive Healthcare

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