Axios Pro Exclusive Content

Exclusive: HDAI inks $31M Series C for clinical decision support

Illustration: Tiffany Herring/Axios

The Health Data Analytics Institute (HDAI), a maker of clinical decision support software for health systems, raised $31 million in Series C funding, CEO Nassib Chamoun tells Axios exclusively.

Why it matters: Health systems have an expanding appetite for tools that help prioritize and risk-stratify patients, saving clinicians' time and helping to efficiently manage resources.

Details: Invus led the round.

  • Funds will go towards implementing its tools, which now include a generative AI module, at Houston Methodist and Cleveland Clinic.
  • Chamoun says HDAI will begin the process of raising a Series D at the end of 2023.

How it works: HDAI licenses its AI-powered software to health systems, hospitals, and clinics.

  • That software is trained on roughly a quarter of a trillion Medicare records.
  • "We've taken everything you're likely to see as a clinician and we've statistically summarized it in a way that says, 'This is a person that is in the highest decile or quintile for that risk,' whether it's mortality or readmission or sepsis," Chamoun says.
  • The company has published several recent, peer-reviewed studies suggesting its algorithms offer predictive capabilities for Medicare and non-Medicare populations.

Yes, but: Developers of clinical decision support software must train their tools on wide and diverse patient populations, since not doing so can produce serious errors in the algorithms' results.

  • For example, a sepsis prediction tool developed by EHR giant Epic was found to have missed two-thirds of sepsis patients and generated numerous false alerts, partially because it had not been properly trained on local hospital data.
  • Last fall, Epic released a revamped version in an effort to rectify some of the problems.
  • "People should think about AI models today as efficiency and operational tools that help you flag and identify patients that require a higher level of clinical attention," says Chamoun. "The driver must remain the clinician."

State of play: Because of the potential time-savings they offer clinicians, tools like the kinds being developed by Epic and HDAI are attracting significant attention from investors.

Go deeper