Opmed.ai Secures $15M to Spearhead AI Revolution in Healthcare Operations

Opmed.ai, “the AI optimisation platform for healthcare”, has announced the successful raise of 15 million USD in series A funding. The round was co-led by NFX and Grove Ventures, with Secret Chord Ventures, the Impact investor Sir Ronald Cohen, and Unbox Ventures also participating. Healthcare Operations

The funding announcement comes amidst a healthcare labor shortage, projected to be 3.2 million healthcare professionals by 2026 according to the company, and rising labor cost in hospitals. Operating Rooms (ORs) account for 40% of a hospital’s costs, generate 60-70% of its revenue, and often serve as a primary source of profitability. However, inefficient OR scheduling carried out via dated spreadsheets or largely manual solutions exacerbate the issues.

Opmed.ai specialises in optimising healthcare operations,

starting with ORs, through the application of advanced AI technology. The company’s optimisation engine runs billions of permutations in seconds and is tailored to make predictions based on industry-specific factors, automatically generating alternative schedules to improve resource allocation. Healthcare Operations

The company says that given that the potential revenue of each unused minute is 50-150 USD and that empty ORs carry a cost of 1,000 USD for each unused hour, the technology’s impact is enormous. By implementing Opmed.ai, hospitals generate an additional  1M+ USD per OR while reducing costs by 500,000 USD annually and remaining resilient in the face of unforeseen delays or events says the company.

AI Revolution in Healthcare Operations

Opmed.ai Secures $15M to Revolutionize Healthcare Operations with AI

Unlocking Efficiency and Savings: The Opmed.ai Advantage

• AI Optimization Engine:
  • Opmed.ai specializes in optimizing healthcare operations, starting with Operating Rooms (ORs).
  • Their advanced AI technology runs billions of permutations in seconds, predicting resource allocation based on industry-specific factors.
  • The result? Alternative schedules that significantly improve efficiency and utilization.
• Immediate Impact:
  • Each unused minute in an OR represents potential revenue ($50-$150).
  • Empty ORs cost $1,000 for every unused hour.
  • Opmed.ai’s technology can have an enormous financial impact.
• Implementation in Weeks, Not Months:
  • Despite the complexity of ORs and healthcare settings, Opmed.ai’s platform is implemented within 2-4 weeks.
  • It detects overestimations, underestimations, gaps, anesthesia time, and turnover time.
  • Generates optimized alternative plans, considering staff, equipment, preferences, and add-ons.
• Long-Term Planning:
  • Planners can create quarterly and yearly block allocation plans.
  • Aim: Increase OR utilization by 10% and generate cascading savings and revenue.
  • Hospitals typically achieve ROI within 3-4 months.

Investor Enthusiasm and Mission:

• Renana Ashkenazi (Grove Ventures):
  • Opmed.ai solves a complex issue with a specialized vertical solution.
  • Clear and significant ROI even from an early stage.
  • Hospitals’ enthusiasm drives expansion.
• Gigi Levy-Weiss (NFX):
  • Opmed.ai addresses inefficiencies and staffing shortages.
  • Improving OR experiences for doctors and patients.

A Vision for the Future:

• Dr. Mor Brokman Meltzer (Co-Founder & CEO):
  • Opmed.ai’s mission: Support hospitals with a less labor-intensive, effective way to excel.
  • Revolutionizing healthcare operations with cutting-edge AI.
• Avi Paz (Co-Founder & CTO):
  • Funding validates Opmed.ai’s commitment to empower healthcare professionals.
  • Efficiency and effectiveness pave the way forward.

Deployed and Collaborating:

• Opmed.ai already deployed in leading US and Israeli hospitals.
• Collaborating with Mayo Clinic and other top Health Systems.

Opmed.ai’s journey is more than financial—it’s a transformative leap toward efficient, effective healthcare. 🌟💡🏥