Siftwell Analytics: Revolutionizing Healthcare Through Data Insights
Siftwell Analytics, Inc., a digital health company specializing in community health plans, has secured a substantial $5.8 million in its inaugural venture capital funding round. The funding round marks a pivotal moment for the company as it harnesses the power of machine learning and AI to proactively enhance member outcomes.
Venture capital firms AlleyCorp, Arkin Digital Health, Tau Ventures, and The Charlotte Fund have all joined forces to support Siftwell in this endeavor, showcasing a collective belief in the company’s potential. The infusion of funds is earmarked for further product enhancement, signaling an exciting phase of growth for Siftwell.
Currently operating in four states – Idaho, Montana, Wyoming, and North Carolina – with expansion plans for New Jersey and Arizona, Siftwell focuses on major health conditions such as COPD, depression, hypertension, and obesity. The company’s unique approach involves leveraging machine learning and AI to identify at-risk individuals, thereby improving quality scores and cost profiles.
iftwell envisions incorporating more health-related social needs or SDOH factors into their datasets, making them even more actionable. The commitment to addressing the diverse aspects of population health is evident in their expansion plans and the company’s proactive stance in utilizing cutting-edge technology.
Siftwell’s innovative methodology involves analyzing a plethora of data, including claims, health risk assessments, and call center data. The incorporation of social determinants of health (SDOH) factors, such as access to food, transportation, housing, and employment, enables the company to glean valuable insights. This data is then subjected to machine learning processes, revealing patterns that determine compliance with quality score measures.
The company’s ability to categorize members into unique groups, guided by artificial intelligence, facilitates tailored and efficient healthcare solutions. Through precise identification of individuals at risk, Siftwell empowers health plans to intervene proactively, resulting in improved quality measures and health outcomes.
Siftwell’s impact extends beyond the traditional realms of healthcare analytics. By defining data twins and identifying virtually identical clusters with a single intervention factor, the company provides health plans with actionable insights. This approach enhances the efficiency of health plans, urging members to seek specific interventions like primary care visits.
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