May 17, 2020

Oscar Health raises $165mn in new funding round

healthcare services
USA
Health Insurance
healthcare services
Catherine Sturman
2 min
funding round graph (Getty Images)
Inspired to overhaul a fragmented US healthcare system, Mario Schlosser, Joshua Kushner and Kevin Nazemi decided to look at ways to empower consumers th...

Inspired to overhaul a fragmented US healthcare system, Mario Schlosser, Joshua Kushner and Kevin Nazemi decided to look at ways to empower consumers through utilising data science and technology to provide patient healthcare.

Launched in 2012, Oscar Health has recently raised $165mn in a new funding round, which will go towards its plans for expansion. It also highlights the increased move for health insurers and organisations to partner to provide a complete picture of consumers healthcare needs.

“Our investors have consistently believed in Oscar’s long-term vision, in the underlying strength of our business model, and in the talent and drive of more than 700 of the brightest minds from health care, technology, data, and operations,” the two remaining founders said.

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“To fuel Oscar’s next phase of growth, we’ve officially closed a $165 million funding round, led by Brian Singerman and Founders Fund and including 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Thrive Capital, among others. Our investors’ deep collective experience in health care and technology will be vital to our success in the coming years.”

Enrolling over 250,000 members in 2018 alone under the Affordable Care Act, the company is projecting up to $1bn in gross premium revenue, the company has stated, in its bid to drive cost-effective, quality healthcare for consumers.

The company’s partnership with healthcare organisations, such as the Cleveland Clinic, Humana, and AXA signifies Oscar Health’s exponential growth, where it houses ambitions to expand at a rate of five cities each year, whilst exploring further markets.  

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Jun 23, 2021

Introducing Dosis - the AI powered dosing platform

AI
medication
personalisedmedicine
chronicdisease
3 min
Dosis is an AI-powered personalised medication dosing platform that's on a mission to transform chronic disease management

Cloud-based platform Dosis uses AI to help patients and clinicians tailor their medication plans. Shivrat Chhabra, CEO and co-founder, tells us how it works. 

When and why was Dosis founded?
Divya, my co-founder and I founded Dosis in 2017 with the purpose of creating a personalised dosing platform. We see personalisation in so many aspects of our lives, but not in the amount of medication we receive. We came across some research at the University of Louisville that personalised the dosing of a class of drugs called ESAs that are used to treat chronic anaemia. We thought, if commercialised, this could greatly benefit the healthcare industry by introducing precision medicine to drug dosing. 

The research also showed that by taking this personalised approach, less drugs were needed to achieve the same or better outcomes. That meant that patients were exposed to less medication, so there was a lower likelihood of side effects. It also meant that the cost of care was reduced. 

What is the Strategic Anemia Advisor? 
Dosis’s flagship product, Strategic Anemia Advisor (SAA), personalises the dosing of Erythropoiesis Stimulating Agents (ESAs). ESAs are a class of drugs used to treat chronic anaemia, a common complication of chronic kidney disease. 

SAA takes into account a patient’s previous ESA doses and lab levels, determines the patient’s unique response to the drug and outputs an ESA dose recommendation to keep the patient within a specified therapeutic target range. Healthcare providers use SAA as a clinical decision support tool. 

What else is Dosis working on? 
In the near term, we are working on releasing a personalised dosing module for IV iron, another drug that’s used in tandem with ESAs to treat chronic anaemia. We’re also working on personalising the dosing for the three drugs used to treat Mineral Bone Disorder. We’re very excited to expand our platform to these new drugs. 

What are Dosis' strategic goals for the next 2-3 years? 
We strongly believe that personalised dosing will be the standard of care within the next decade, and we’re honored to be a part of making that future a reality. In the next few years, we see Dosis entering partnerships with other companies that operate within value-based care environments, where tools like ours that help reduce cost while maintaining or improving outcomes are extremely useful.

What do you think AI's greatest benefits to healthcare are?
If designed well, AI in healthcare allows for a practical and usable way to deploy solutions that would not be feasible otherwise. For example, it’s possible for someone to manually solve the mathematical equations necessary to personalise drug dosing, but it is just not practical. AI in healthcare offers an exciting path forward for implementing solutions that for so long have appeared impractical or impossible.

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