Navina — a company that uses AI to enable better value-based care — closed a $55 million Series C funding round led by Goldman Sachs on Tuesday, bringing its total funding amount to $100 million.
The company, founded in 2018, is based in Israel and New York. It provides an AI copilot that gathers and analyzes patient data from the EHR and other disparate sources to facilitate physicians’ participation in value-based care models.
Ronen Lavi, Navina’s CEO and co-founder, pointed out that providers often face major barriers when transitioning to value-based care arrangements.
For example, physicians often struggle to access the data they need to deliver on value-based care objectives.
Physicians are flooded with and overwhelmed by exponentially growing amounts of data flowing in — from sources like the EHR, claims, wearables and pharmacy records. The information they have to wade through is siloed and often non-chronological, and recent data often can’t be integrated quickly from different sources, Lavi explained.
This leads to physician burnout, missed diagnoses and redundant procedures, he added.
Physicians’ willingness to participate in value-based care is also a key barrier. Many physicians are worried about meeting the many documentation requirements that come along with value-based care — and oftentimes for good reason. The technology available to them often predates the movement to value-based care, Lavi noted.
Navina’s AI copilot addresses these issues by analyzing and summarizing patient data from various sources — and then providing insights at the point of care.
“AI extracts all the points of data and then connects the dots between to get what we call the one source of truth about the patient,” Lavi declared.
By giving physicians easy access to relevant patient information in an easy-to-digest format, Navina’s platform seeks to improve diagnostic accuracy, identify care gaps and reduce burnout, he said.
Overall, Lavi believes Navina’s solutions give physicians “all the data they need to have the most efficient and empathic care during any interaction they have with the patient.”
Navina’s platform serves about 10,000 clinicians across 1,300 clinics.
Some of the company’s customers include InnovaCare Health, Millennium Physician Group and Privia Health. It also recently partnered with primary care company Agilon to deploy its AI copilot among the organization’s 2,800 clinicians.
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