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Eleos, Sword’s UK Move, and Primary Care Goes Corporate
January 30, 2025
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Together with
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“You have to really enjoy it, and you have to like people. This is a people business. If you don’t like people, you shouldn’t be in this business.”
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Peter Fine, Former CEO of Banner Health
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There’s riches in niches, and “the most widely deployed behavioral health AI solution on the market” just landed another $60M with Eleos Health’s Series C fundraise.
Eleos’ clinical documentation solution looks a lot like other ambient AI tech on the surface:
- It converts session audio directly into a clinical note in near real-time
- It works with smartphones, telehealth, and 100+ languages
- Providers can review the note and push through any changes
The ambient AI arena is packed with companies catering to the broad needs of health systems, but Eleos side steps that competition by focusing exclusively on community behavioral health organizations.
- These orgs usually face tight budget constraints, don’t use a major EHR vendor, and serve primarily Medicaid patients with state-by-state documentation needs.
- By supporting a wide range of integrations and optimizing its solution so that it can document hour-long sessions without driving up costs, Eleos has become a crowd favorite in this corner of the market. It serves 120 orgs across 30 states.
The launch of Eleos Compliance added another differentiator to the funding announcement.
- Eleos Compliance provides an instant review of every submitted note, proactively flagging potential documentation errors before they can trigger fines or clawbacks.
The Series C will go toward Eleos’ expansion to more settings that often get missed by the latest innovations, particularly substance use treatment centers and post-acute behavioral care.
- These historically underserved segments not only allow Eleos to help the patients who need it most, but they also let it steer clear of larger players.
- Rock Health’s recent market overview devoted an entire section to the David vs. Goliath story unfolding in this space, and Eleos is a great example of why taking the path less traveled is a good way to avoid getting stepped on.
The Takeaway
The number of patients seeking behavioral healthcare far outstrips the providers available to deliver it, and Eleos is looking to help balance the equation with generative AI. The race to solve clinical documentation is as heated as they come, but Eleos’ momentum and specialization are also great tailwinds.
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Join Leading CMIOs for Strategies to Maximize AI
Nabla is bringing together an all-star cast of CMIOs from Cedars-Sinai, Carle Health, and Boulder Community Health to explore ambient AI’s potential beyond clinical documentation. Secure your spot by February 6 to see leading systems discuss the hidden value in ambient AI, its impact on revenue cycle management, and key steps for ensuring measurable results.
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AI, Automation, and Data-Driven Innovation
Community Health Systems CMO Dr. Lynn Simon sees a future where AI moves healthcare from reactive treatment to proactive care. Catch Medallion’s Elevate discussion to see Dr. Simon’s predictions on what to expect, including stronger AI-human connections and a culture shift around powerful partnerships.
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- Sword Acquires Surgery Hero: Sword Health is going after the U.K. market with the acquisition of Surgery Hero, the “world’s first digital clinic for surgery.” Surgery Hero already supports over 10M people through its work with the NHS, and integrating its prehabilitation services with Sword’s AI musculoskeletal care platform will give patients a unified solution for support during critical transitions before and after surgery.
- Americans Want Transparency: KFF’s first Health Tracking Poll since Trump took office shed light on public opinion regarding key agenda items. Of the 11 healthcare policies in the poll, price transparency was the most pressing issue, with 61% saying it should be a top priority for the new administration. A majority of respondents expressed concerns about their rising healthcare costs (58%) and the fact that the government isn’t investing enough in preventing chronic diseases (60%).
- Neko Nabs New Funds: Spotify founder Daniel Ek’s full-body scan startup Neko Health secured $260M in Series B funding to fuel its expansion into the U.S. The ongoing debate over the medical appropriateness of preventative body scans hasn’t stopped Neko from gaining early traction. Its two small clinics have completed over 10k scans and racked up a 100k person waiting list since launching in 2023.
- Nabla’s AI Best Practices: Nabla just released a top tier resource showcasing its best practices for AI documentation based on years of experience working alongside clinical leaders to fine-tune its own platform. The paper spells out the A to Z of Nabla’s exact evaluation methods, complete with real-world examples highlighting the importance of rigorous evaluation, progressive rollouts, and active clinician feedback.
- Return Trips to the ED: Nearly a fifth of patients who leave the ED without being seen return within seven days. That’s based on Epic Cosmos data from 1,500 hospitals, which revealed that 1% of patients in the ED left without being seen in 2023. Of the 18.5% that returned within a week, 0.19% were admitted to the ICU and 1.63% were admitted to the hospital. The researchers point out that patients usually return at a similar time of day, a sign that they could be having trouble accessing nonemergent care.
- Johns Hopkins + Caregility: Johns Hopkins Medicine inked a partnership with Caregility to support the debut of its new Virtual Nursing program and care modernization strategy. The collaboration will see the Caregility Cloud virtual care platform and inpatient telehealth devices implemented in four hospitals, allowing virtual nurses to support bedside teams with routine care tasks like admission assessments and discharge education.
- Datavant Eyes M&A Targets: Datavant is on the hunt for more acquisitions as the $7B patient data exchange company gears up for its IPO. CEO Kyle Armbrester told Business Insider that Datavant’s planning at least “one or two” more acquisitions early this year, which would add to a recent M&A flurry that included picking up data privacy company Trace Data and analytics tech from Apixio. Although Datavant doesn’t sound like it’ll be first in line for this year’s expected wave of IPOs, it didn’t rule out a 2025 date either.
- Primary Care Goes Corporate: A new study in JAMA Health Forum examined the impact of primary care’s corporate transformation. Data from 198k PCPs showed that the percentage affiliated with hospitals nearly doubled from 25% to 48% between 2009 and 2022. Over the same period, 1.5% of PCPs become PE-affiliated. Relative to independent PCPs, negotiated prices for office visits were 11% higher for hospital-affiliated PCPs and 7.8% higher for PE-affiliated PCPs.
- Bamboo Teams Up With Radial: Bamboo Health is teaming up with clinical decision support startup Radial to improve care coordination and support value-based home care. The partnership combines Bamboo’s Pings notification solution with Radial’s real-time intelligence platform, equipping care teams with advanced risk stratification and member-specific insights that they can push directly to patients.
- Dario Adds GLP-1 Prescribing: DarioHealth is adding prescribing capabilities to its GLP-1 behavior change solution through a collaboration with telehealth company MediOrbis. The ability to prescribe its own medications will reportedly allow Dario to keep up with the rise in demand from employers covering weight-loss medications, while also expanding its addressable market by enabling new direct-to-consumer offerings.
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UChicago Builds Better Experiences With Abridge
UChicago Medicine clinicians know firsthand that improving the clinical conversation experience has a direct impact on provider and patient satisfaction. Discover how Abridge’s AI platform transformed clinical documentation at UChicago Medicine into a breakthrough improvement in experience scores in just six weeks.
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Top Systems Scale Primary Care With K Health
Leading health systems are turning to K Health’s AI-driven primary care solution to give their patients access to high-quality care with wait times measured in hours, not months. Find out why K Health is the only clinical AI company partnering with top systems to scale fully integrated primary care experiences.
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- The First 30 Days – What to Expect With AI: Implementing AI documentation tools promises significant benefits, but how do you ensure a smooth transition? Playback Health has you covered with this comprehensive 30-day roadmap outlining what to expect, industry best practices, and its own proven implementation approach.
- BPM Pro 2 – Unparalleled Reliability: BPM Pro 2 increases data reliability with two new features that ensure patients are taking their reading properly and prompting them to rest and retake it if their first reading was abnormally high.
- Bridging Care Gaps for Underserved Populations: Is your health system, rural health clinic, or federally qualified health center struggling to reach patients with obstacles to receiving in-person care? This Clear Arch Health whitepaper explores how combining RPM with VBC can help facilitate proactive interventions, address social determinants of health, and get the most out of new CMS reimbursement pathways.
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