LeanTaaS Closes $15 M in Series C Funding

LeanTaaS, a predictive analytics and machine learning company that aims to improve healthcare operations, has closed a $15 million Series C financing round led by current investor Insight Venture Partners.

LeanTaaS, whose mission is to cut healthcare wait times, improve operations and increase patient access, will use the money to expand its flagship platform, which comprises three solutions: iQueue for Infusion Centers, iQueue for Operating Rooms and iQueue for Clinics.

>> READ: $26 M for High-Tech Health Scheduling Company

“This investment will substantially accelerate the pace at which we build and deploy the iQueue platform to power the future of healthcare operations,” said Mohan Giridharadas, founder and CEO of LeanTaaS, a Silicon Valley company founded in 2010.

Roughly 50 academic institutions use the LeanTaaS platform, and the company claims all of them are seeing significant improvements in operating rooms, infusion chair and ambulatory clinic efficiency. LeanTaaS’s solutions are used by the nation’s leading hospitals and more than 100 infusion systems, including Memorial Sloan Kettering Cancer Center, NewYork-Presbyterian Hospital and Stanford Cancer Center.

“iQueue is a far more scientific way of managing OR capacity and creating access to OR time, accountability for block time, and transparency into operating metrics,” said Dio Sumagaysay, associate chief nursing officer, perioperative systems & multispecialty procedure units, at Oregon Health & Science University. “In fact, we have unlocked more OR time within the first week of using iQueue than we had in an entire year.”

LeanTaaS customers have reduced wait times for appointments and surgeries by 50 percent, increased patient access by 30 percent and improved operational performance up to 20 percent through increased revenue and reduced costs, the company claims.

“iQueue has demonstrated beyond doubt that it solves one of the biggest issues in U.S. healthcare — access to care — by fundamentally transforming core scheduling and throughput processes through digital tools,” said Peter Segall, managing director at Insight, and board member at LeanTaas.

A press release published on Nov. 13, 2018 said, “LeanTaaS has quickly emerged as the leader in using advanced data science and mathematics to unlock the capacity of scarce assets in health systems.”

This investment comes a year after Insight invested $26 million to the Silicon Valley company during the Series B financing round.

LeanTaaS is just one of many companies that have pushed the limits of technology increasing efficiency in healthcare. For instance, El Camino Hospital, branded the “hospital of Silicon Valley,” has developed artificial intelligence (AI) systems that predict which patients are at risk of falling and robotic delivery modules. The hospital also is partnering with Apple to integrate iOs devices into the hospital’s information systems. These apps would streamline communications between doctors, nurses and patients.

Get the best insights in healthcare analytics directly to your inbox.

Related

Mobile Videoconferencing Linked with Reduced Stress, Increased Productivity in Employees

mHealth Apps: Trust the Studies, Not the Stars

How AI Is Shaking Up Healthcare, Beyond Diagnostics