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BFD Expert Voices - Health Tech Deals

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Atalan Tech, a Boston-based company using AI to predict and prevent clinician burnout and turnover, raised a $2.5 million seed, CEO Tiffany Chan tells Axios exclusively.

Why it matters: Post-pandemic, a growing portion of physicians have experienced burnout, leading to staff turnover and shortages.

Details: The growth financing round was led by Excelerate Health Ventures and co-led by OCA Ventures, with several angel investors in the mix as well.

The company's pre-money valuation was $3 million, Chan says.

Funds will fuel research and development, expand its science team, and ramp up sales and marketing efforts.

How it works: Atalan Tech's platform helps with planning and predicting departments and hotspots that could be problematic when it comes to burnout.

Atalan Tech's machine learning models extract and evaluate more than 100 burnout and turnover risk variables to identify risk drivers, pulling data from electronic health records (EHRs) and human resources information systems.

Once the platform identifies risk drivers — like lack of workplace control and flexibility, hindrance in patient-facing workflow, etc. — it develops interventions and solutions, Chan says.

Atalan Tech also determines the ROI and efficacy of those interventions.

The company currently has eight health system partners, according to Chan. She says that figure is set to grow to 15 by the end of next year.

Zoom in: According to Chan, Atalan Tech can predict up to 12 months ahead of turnover, allowing lead time for health systems to implement burnout interventions.

It uses data that taps into what the workplace environment looks like day-to-day for a clinician — patient acuity, patient volume, the volume of patient appointment cancellations, etc.

"Together, these data points can point to why a clinician might be at risk of burnout and turnover," Chan says.

Between the lines: Atalan Tech draws from existing data already available within health systems, as opposed to adding another layer of administrative burden on doctors.

"We do not require health systems to deploy additional surveys as we understand that our healthcare workers are incredibly busy," Chan says.

Atalan Tech's platform was designed in partnership with clinical psychologists with expertise in trauma-informed care to ensure its interventions are protecting the well-being of health care workers, Chan notes.

What they're saying: "Clinician burnout is a pressing issue affecting our medical industry," says Bobby Bahram, managing partner at Excelerate Health Ventures.

"Atalan Tech's technology allows companies to address this problem at an early stage, ultimately enhancing the lives of healthcare professionals and patients alike," he adds.

Chan notes a commitment to ethical AI, saying, "We have put together a process to check our models for potential biases and we embed ethical considerations into our day-to-day decision-making regarding our product."

What's next: Atalan Tech expects to raise a second seed round next year, Chan says.

"We are forecasted to break even in early 2025, if not sooner," she says.

Chan confirmed the company is currently generating revenue, but declined to get into specifics.

State of play: There are several companies devoted to reducing burnout in health care settings, though many are point solutions that are not wholly comprehensive.

CalmWave, which is designed to reduce alarm fatigue for bedside healthcare workers, raised a $4 million seed in 2022.

Laudio, a health care operations management software company to improve the relationship between nurse managers and nurses, raised $13 million Series B.

Other players include Vital Worklife, which offers professional coaching and EAP for physicians and health care workers, and StressPal, which offers resilience training for health care workers.

Additionally, Google-owned Fitbit offers stress management and personal habit development tools.

Exclusive: Atalan Tech seeds $2.5M to predict doctor burnout

The company says its platform can predict up to 12 months ahead of turnover of a physician.

Health tech deals

Atalan Tech, a Boston-based company using AI to predict and prevent clinician burnout and turnover, raised a $2.5 million seed, CEO Tiffany Chan tells Axios exclusively.Why it matters: Post-pandemic, <a class="gtmContentClick" data-vars-link-text="a growing portion " data-vars-click-url="https://link.axios.com/click/32935999.973/aHR0cHM6Ly93d3cubWRsaW54LmNvbS9hcnRpY2xlL3RoZS1tb3N0LWJ1cm5lZC1vdXQtZG9jdG9ycy1ieS1zcGVjaWFsdHktMjAyMy11cGRhdGUvekdWaHBvNGJndHRKR0hSNFBqT1Z1P3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1wcm9fZGVhbHNfaGVhbHRodGVjaF9zdWJzJnN0cmVhbT10b3AjQ29tbW9uJTIwY29udHJpYnV0aW5nJTIwZmFjdG9ycw/63d7efa24889932dcb08ba1cB388c2c5f" data-vars-content-id="7b7b3af7-c759-4cf6-9344-226e5fd83735" data-vars-headline="Exclusive: Atalan Tech seeds $2.5M to predict doctor burnout" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/32935999.973/aHR0cHM6Ly93d3cubWRsaW54LmNvbS9hcnRpY2xlL3RoZS1tb3N0LWJ1cm5lZC1vdXQtZG9jdG9ycy1ieS1zcGVjaWFsdHktMjAyMy11cGRhdGUvekdWaHBvNGJndHRKR0hSNFBqT1Z1P3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1wcm9fZGVhbHNfaGVhbHRodGVjaF9zdWJzJnN0cmVhbT10b3AjQ29tbW9uJTIwY29udHJpYnV0aW5nJTIwZmFjdG9ycw/63d7efa24889932dcb08ba1cB388c2c5f" target="_self">a growing portion </a>of physicians have experienced burnout, leading to staff turnover and shortages.

Exclusive: Atalan Tech seeds $2.5M to predict doctor burnout

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