Qventus has now raised more than $43 million in total funding and plans to use the new dollars to expand its AI-based platforms and market its products to different health systems.
The company’s solution uses machine learning to help healthcare organizations run more efficiently by managing non-clinical decisions and other aspects surrounding the delivery of care. The goal is to drive consistency and positively affect physician and patient satisfaction.
The startup’s Founder and CEO Mudit Garg told Becker’s Hospital Review its important for Qventus to push the boundaries of what its solution can do and alleviate some of their customers’ operational challenges.
“For us it is really important we not only predict [operational inefficiencies] but … do it in a way that people will be most likely to take action,” Mr. Garg said. Qventus is exploring a number of solutions ranging from streamlining patient flow to improving pharmacy management and building staff schedules.
“Hospitals are under tremendous pressure to increase efficiency, improve margins and enhance patient experience, all while reducing the burden on frontline teams, and they currently lack tools to use data to achieve operational productivity gains,” Stephen Kraus, partner at Bessemer Ventures and newly appointed Qventus board member, said in a press release. “Qventus is the first to effectively use [AI and machine learning] to solve this real operational need in hospitals with clear ROI. We believe Qventus will become the leading logistical operating system for hospitals by turning healthcare data into insights, and turning these insights into action.”
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