Akido Labs Launches Medical Network

Akido Labs, a medtech startup-transformed healthcare provider, has realigned its growth strategy by partnering with Pomona-based Chaparral Medical Group.

The partnership takes Akido’s proprietary technology platform, which the company calls the Wellbeing Graph, and makes it available to healthcare networks.

The platform is a software technology that predicts the social or health outcomes a person may be susceptible to based on their medical history and life events, which Akido classifies as social determinants of health. It also meets the needs of patients with pre-existing chronic conditions who regularly see specialists.

CTO Jared Goodner provided an example of the platform being used.
“As a patient, I may have recently lost my job, and I happened to bring this up to my doctor. Because our system is trained to recognize markers, especially markers of social determinants that indicate that the disease is likely to worsen, our system Unemployment is flagged,” Goodner said. “This causes a series of automatic events to fire based on that (marker).”

The software can also suggest additional screening around markers of prediabetes, notify doctors and patients to discuss food insecurity or send patients an application to enroll in a nutrition plan. Goodner added that the platform is designed to support doctors’ services, not make decisions for patients.

“By exposing (patients) to a larger market of intervention opportunities, some of which can be created and managed by Akido and others entirely by third parties, you are democratizing the ability to prevent further disease progression,” said Prashant, Akido’s CEO That’s what makes the most sense for the patient’s health, Samant said.

Also Read :  Zhengzhou, China: Protesters at Foxconn factory clash with police, videos show

Through its technology, the company has entered the preventative care market, rather than point-of-care for patient conditions that have already been achieved.
Akido’s partnership with Chaparral Medical Group, which has more than 30 locations in Pomona Valley, enables the company to bring more users to its technology and thus more revenue. This also marks Akido’s transformation from a software provider for different healthcare customers to a true healthcare provider with its own technical support.

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

AKIDO 315 W 9th Street Los Angeles, CA
The company’s headquarters are located on 9th Street in downtown.

Under the partnership, Chaparral’s founder, Dr. Prasad Jeereddi, will continue his group’s day-to-day medical functions and serve as Akido’s Chief Medical Officer. He will work closely with Akido’s Head of Business Development, Sanjit Mahanti.

Mahanti said Chaparral was a good fit for Akido’s business because of its focus on treating chronic conditions in a multi-specialty manner, which he described as the best way to create a durable healthcare business.

core competitiveness

“We’re talking about endocrinologists, rheumatologists, pulmonologists and cardiologists, really those core subspecialties that we now think are most important in caring for chronic disease,” Mahanti said. “We want to make sure we work with organisations that have this core competency.”

Also Read :  U.N. carbon market talks to drag beyond COP27 as deals elusive

With over 50 years of operational knowledge and experience in multi-specialty care, Jeereddi and Mahanti will be key players in Akido’s expansion into new markets.

“I have always believed that patient care is both an art and a science, and the consideration of creating a symbiotic relationship between the ingenious practice of medicine and Akido’s powerful technology will greatly serve our patients, physicians, care teams and communities,” said Jaredy.

The collaboration comes seven years after Akido was founded from USC’s D-Health lab, around the time the company secured an early investment from tech startup accelerator Y Combinator.

From then until the development of the new healthcare network, the company primarily provided services to entities that needed help managing healthcare delivery. For example, Akido has used its platform to work with organizations like Long Beach, Santa Monica, Moffitt Cancer Center, and the American Foundation for the Blind.

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

“From a cultural standpoint, a place like Long Beach works with people with very different needs, right? It’s a very multicultural city,” Mahathir said. “This means that, as a doctor, paramedic or social worker, it’s very helpful to provide support to meet the cultural needs of any given individual, so we’ve put a lot of work into designing the system to make that happen.”

Also Read :  The truth about the finance job market at the end of 2022

Last year, the company announced that it had raised a total of $25 million in funding to expand its reach, with its latest funding round being Future Communities Capital.

Akido used to follow an enterprise software business model, but with the shift to a healthcare business model, the company generates revenue from patient care. This income is a mixture of service care costs and head care costs. According to the American Academy of Family Physicians, capitation care “is a payment arrangement for health care services in which entities receive a risk-adjusted The amount that person is looking for.”

Akido has its own medical network and is now looking to delve further into the field of preventive healthcare. Samant said the company’s biggest challenge to date has been validating its presence in the space.

“This 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, ‘Are you really responsible for the rocks here? Or, are you just a Silicon Valley guy throwing rocks at software?

According to Samant, Akido plans to increase its financing by 150% to 200% over the next year, mainly due to business from the partnership with Chaparral.

Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button