Senior dwelling know-how platform August Well being has raised one other $29 million in Collection B funding to assist gas the corporate’s subsequent spherical of development, together with the enlargement and rollout of recent synthetic intelligence capabilities.
Launched in 2020, August Well being is an digital well being report (EHR) platform utilized by senior dwelling operators to handle each day operations and acquire insights on resident care supply.
August Well being plans to make use of the funding to develop its new August Intelligence capabilities and additional develop the corporate’s engineering, design, and buyer help groups. The AI-enabled platform will carry knowledge insights to bear for operators, together with connecting in a extra routine approach with resident households via proactive communication.
Base10 Companions led the funding spherical. Current buyers Common Catalyst and Matrix Companions additionally participated within the spherical, together with Equitage Ventures, Stanford College, and the Senior Residing Transformation Firm. Adam Kaplan, CEO and Founding father of Solera Residing, is a Co-founder and Associate at Equitage Ventures.
August Well being Co-founders Justin Schram and Erez Cohen each consider the senior dwelling business is at an inflection level the place senior dwelling suppliers are making powerful choices on know-how companions as care wants make operations extra advanced.
“We’ve now invested to extend our R&D capability and actually lean in on embedding AI into the platform to additional handle among the long-standing challenges operators face in our business,” Schram stated. “We’re positioned to embed insights and intelligence into each day workflows to enhance how operators run their communities.”
August Intelligence, which begins a pilot program rollout this fall, is designed to assist operators join with resident households and likewise carry scientific and different operational patterns ahead to higher enhance operations.
For instance, it would curate newsletters for households to tell them of their beloved one’s situation and involvement in neighborhood actions relatively than solely listening to from care groups after an incident or well being decline.
The platform may even be capable of establish scientific insights based mostly on issues like treatment administration and flag trending knowledge factors for scientific groups to make modifications to a resident’s care plan, shifting the taking part in subject from reactionary to a proactive strategy, the co-founders advised SHN.
“We see this as a pressure multiplier, enabling operators to do issues that they couldn’t earlier than,” Schram advised SHN.
Cohen added, “Finally this can run in bulk throughout our whole inhabitants of residents and supply these proactive suggestions throughout totally different departments.”
As soon as absolutely reside, August Intelligence will be capable of “comb the info” in real-time and establish at-risk residents in want of elevated care or modifications to their care plan to enhance their scientific outcomes and high quality of life, the duo stated.
“Once you do this, you possibly can successfully forestall a foul consequence from taking place sooner or later—an consequence which may additionally put you at authorized danger and one that might have a really severe human impression on the well-being of the resident,” Schram stated. “I consider the resident watch record is extremely highly effective for shifting towards a extra proactive strategy to resident care.”
The platform may even be capable of establish tendencies at communities to point out areas through which they could be underperforming in assessing residents or operators which are “leaving care income on the desk,” Schram stated.
Senior dwelling operators in the present day should steadiness a spread of departments with a view to run a profitable neighborhood, and Cohen sees August Well being as a option to carry collectively totally different components of a corporation’s construction, from scientific to gross sales and authorized departments, to be a “multi-platform” system accessible to operators that may simply pull knowledge insights.
“We’ve constructed an infrastructure right here the place we are able to apply the identical core mannequin to a number of features of our EHR,” Cohen stated. “This can run in bulk throughout our whole inhabitants of residents and supply proactive suggestions throughout totally different departments.”
