Akido Labs Launches Medical Network

Akido Labs is a medtech startup turned health care provider that is redirecting its growth strategy through a partnership with Pomona-based Chaparral Medical Group.

The partnership takes Akido’s proprietary tech platform, which the company calls the Wellbeing Graph, and makes it available to a medical network.

The platform is a software technology that predicts a person’s social or health outcomes that can be easily attributed to their medical history and events in their life, which Akido classifies as social determinants of health. It also caters to the needs of patients with pre-existing conditions who regularly visit specialist doctors.

Chief Technology Officer Jared Goodner gave an example of using the platform.
“As a patient, I may have just lost my job, which I discussed with my doctor. Because our system is trained to recognize markers, especially social determinant markers that indicate a potential development of worsening disease, our system signals the absence of work,” Goodner said. “And this results in an automated sequence of events that are triggered based on (the score).”

The software can also suggest additional screenings around pre-diabetic markers, a notification that the doctor and patient discuss food insecurity or send an application to enroll the patient for a program of nutrition. Goodner added that the platform is designed to support doctors in their services, not make decisions for the patient.

“A kind of democratization of the ability to prevent a further aggravation of a disease by exposing (patients) to a larger market of intervention opportunities, some of which can be managed by Akido and others are completely third parties, whatever is most important for a patient’s health,” said Prashant Samant, Akido’s chief executive.

Also Read :  Inflation, uncertainty fuel new gold rush at ancient Austrian Mint

Through its technology, the company works in the market for preventive care, as opposed to the immediate care of the patient’s conditions that have already been created.
Akido’s partnership with Chaparral Medical Group, which has more than 30 locations in the Pomona Valley, allows the company to bring more users to its technology, and thus, more revenue. This also marks Akido’s transition from a software provider for various healthcare clients to a bona fide health care provider backed by its own technology.

“(Chapparal has) a culture of chronic disease management, and we can complement that with our technology platform and infrastructure,” Samant said.

AKIDO 315 W 9th Street Los Angeles, CA
Company HQ on 9th Street downtown.

Under the partnership, Dr. Prasad Jeereddi, the founder of Chaparral, will continue his group’s day-to-day medical operations and will take on the role of chief medical officer for Akido. He will work closely with Akido Head of Business Development Sanjit Mahanti.

Mahanti said Chaparral was a good fit for Akido’s business because of its focus on treating chronic diseases in a multispecialty manner, which he described as the best way to build a strong business. in health care.

Core competency

“We’re talking about endocrinologists, rheumatologists, pulmonologists and cardiologists, really the main subspecialties that we now see as the most important care for chronic diseases,” Mahanti said. “We want to make sure we’re working with an organization that has a core competency.”

Also Read :  As Egypt’s economic crisis deepens, an affordable meal is hard to find

Jeereddi and Mahanti together have more than 50 years of operational knowledge and experience in the multispecialty care sector and will be key players in Akido’s expansion into new markets.

“I have always believed that patient care is as much an art as a science, and the consideration given to create a symbiotic relationship between the art of medical practice and the powerful technology of Akido will serve me well. to our patients, doctors, care teams and communities,” Jeereddi said.

The partnership comes seven years after Akido was founded out of the D-Health Lab at the University of Southern California, during which time the company received an early investment from Y Combinator, a technology startup accelerator.

In the period between then and the development of its new medical network, the company mainly provides its services to entities that need help in managing health care services. For example, Akido uses its platform to work with the city of Long Beach, the city of Santa Monica, the Moffitt Cancer Center and the American Foundation for the Blind, among other organizations.

In the case of Long Beach, Akido provides its platform to help the city coordinate the care of many social and health care-oriented services.

“Places like Long Beach work with populations that have very different needs from a cultural standpoint, don’t they? It’s a multicultural city,” Maanti said. “That means as a doctor, care provider or social worker, providing support to meet the cultural needs of any individual can be very helpful, and so we put a lot of work into designing the system to do that.”

Also Read :  Fed Quick To Downplay November Inflation Surprise, Markets Disagree

Last year, the company announced that it had raised a total of $25 million in funding to expand its impact and that its most recent financing was Future Community Capital.

Akido used to follow a business software business model, but with the transition to a healthcare business model the company earns revenue through patient care. That income is a mix of fee for service care and capitated care. According to the American Academy of Family Physicians, capitated care “is a payment arrangement for health care services in which an entity receives a risk-adjusted amount of money for every person dedicated to them, every period of time, regardless of the number of services. that person is looking.”

With its own medical network, Akido is now looking to further explore the preventive care space. Samant said the company’s biggest challenge so far has been validating its presence in the space.

“It requires a lot of validation from other parts of the business ecosystem, from insurance companies and government agencies to healthcare providers who want to work with us,” Samant said. . “Like, ‘can you take responsibility for the stone here? Or, is it just people in Silicon Valley who throw stones with software?'”

According to Samant, Akido plans to increase its financing by 150% to 200% next year, mainly because of the business that will come from its partnership with Chaparral.

Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button