With great pride in all we accomplished in 2022, KAID Health is set to take on the new year. We know 2023 will be transformative for us. Our mission of making it easier for healthcare providers to do the right thing for each patient remains the same. Our technical focus for enabling this mission, ensuring that all patient data is easily accessible and actionable to support care delivery, is similarly unchanged. We have built a platform, and we are growing its use in the market.
Why KAID Health is here, and will remain a fixture of the health IT landscape
Scattered and unusable patient data has long been a problem plaguing healthcare. In 2014, the American Recovery and Reinvestment Act required all healthcare providers demonstrate a “meaningful use” of electronic medical records (EMRs). Since then, digital patient data proliferated. Alas, the promised cost and quality improvement dividends of this digitalization failed to materialize. More data, too often, simply did not enable more informed actions at the point-of-care. Commonly, the data is dispersed in multiple systems across the health ecosystem. Even worse, it exists in multiple formats, ranging from highly structured paid claims to unstructured free text in medical notes. Thus, the data is hard to use in aggregate. Such fragmented information deprives clinicians of the insights and time they need to know what care is most needed. Providers also lack the incentives to address many patient and/or operational issues even when they become known. Therefore, care quality and profitability suffer. We founded KAID Health, in collaboration with leading provider organizations, to fix this. We are starting to allow even “messy data” enable “great care.”
How KAID Health is arming the point-of-care with accurate, actionable and prioritized interventions
KAID Health’s artificial intelligence (AI)-powered healthcare data analysis & provider engagement platform makes care delivery more efficient, effective, and profitable. Providers benefit, as do their payer and Accountable Care Organization partners from solution. Now, with KAID Health, the entire patient record empowers healthcare organizations to achieve their clinical, financial, or operational objectives on one platform. In parallel, KAID Health’s technology is being extended to payers to achieve a comprehensive view of members’ health by combining claims and EMR data.
So much of the patient’s important health data today lives in the free text of the medical record. Historically, using this data at scale has been cost-prohibitive. KAID Health, to accomplish our mission, simply could not ignore these clinical insights because they are hard to get at. Existing tools to mine clinical text were woefully under performant on several technical and operational dimensions. Thus, after almost two years of work, in 2022 KAID Health released its NLITE™ (Natural Language Insight & Term Extraction) solution. NLITE not only finds all clinical facts buried in medical text, but it understands them. For example, it differentiates between a patient having a disease, having a family history or a disease, or a statement saying the patient does not in fact have a disease. It also understands what a term means, not just what is says. It knows “type 2 diabetes,” “T2DM,” “adult-onset diabetes,” etc., are all synonyms. Finally, NLITE translates the words the clinician wrote in the chart to the informatics language of healthcare, medical codes like ICD-10, RxNORM, LOINC, CPT, and others.
To complete the solution, the NLITE clinical natural language solution is deployed within KAID Health’s Whole Chart Analysis™ platform. KAID Health’s Whole Chart Analysis combines the already structured data known about the patient, e.g., medication lists, problem lists, with the NLITE’s findings from the medical text. This comprehensive data set, organized by organ system, body location, medication type, etc., allows clinicians and coders to quickly see a digest of the entire patient’s health history. In 2022 we augmented the platform with rich search capabilities. This allows KAID Health to surface to the user just the specific useful clinical nuggets she needs to address the task at hand. Finally, to turn clinical facts into clinical actions, our Cohort Manager allows users to identify specific coding, quality, and care gaps in their population, and push out incentivized tasks to the provider. In a nutshell, with KAID Health, providers, coders, and staff can fully understand their patient, find the nuggets they need immediately, and uncover profitable actions that should be taken.
KAID Health’s Whole Chart Analysis technology today is being using by leading primary care groups, multi-specialist groups, specialists, and even some early adopter payer organizations.
2022 funding fueled growth and proven results
Continued growth of KAID Health and our technology stack was made possible from our $4.25 million Series A funding raised in Q1/2 2022. The financing was led by prominent healthcare IT investors, including Activate Venture Partners and Martinson Ventures. Boston Millenia Partners, Brandon Hull, Howard Landis, and KAID Health’s Board of Directors also participated. John Martinson and Dana Callow, of Martinson Ventures and Boston Millenia Partners, respectively, also joined as observers to KAID Health’s Board of Directors.
In addition to building out our technology solutions, KAID Health’s business operation has grown immensely. In 2022, we achieved the following:
276% growth in revenues
300% growth in customers, which now combined serve almost 2M lives
566% growth in the number of patients in database
429% growth in number of medical notes processed, now at ~4.0M
83% growth in headcount
To further prove the value of KAID Health’s technology, we also supported two peer reviewed applications. We continually subject the platform and its results to external and academic review.
The Villages Health’s (TVH) case study showcased KAID Health’s technology to improve clinician efficiency, senior care quality, and Medicare Advantage reimbursement. Using KAID’s Whole Chart Analysis, TVH identified previously hard-to-access clinical attributes on at least 15% of its patient population. The system also generated $2.5M in net new revenue as the clinical insights more comprehensively captured patients’ underlying disease burdens. The paper, Improving ongoing maintenance of an actionable problem list with AI-enabled chart review, was featured in the November/December 2022 issue of the Journal of Medical Practice Management.
In addition, The International Anesthesia Research Society published the study, Identification of Preanesthetic History Elements by a Natural Language Processing Engine, in its journal, Anesthesia & Analgesia. The results of a study validated the potential utility of KAID Health’s NLP technology to improve provider efficiency and care quality. The peer-reviewed “doctor vs. artificial intelligence” paper found that KAID Health’s NLP technology greatly aligned with the clinician reviewers in completing a pre-operative checklist, and further was able to identify 16.6% of instances where the presence or absence of a specific condition was not found by the anesthesiologist. The research study was undertaken at UCSD’s Department of Anesthesiology, Division of Perioperative Informatics.
2023 and beyond… growth, growth and more growth
With KAID Health’s technology, providers can do good and do well simultaneously. Whether paid fee-for-service, capitated, or anything in between, we can improve revenue capture, make costly providers more efficient, while also driving better care delivery. We’ve proven our platform can improve HCC coding, quality reporting, care standardization, prior authorization, visit preparation/general chart review, and care management.
We’re ready to take on the new year and look forward to continuing our work to support healthcare providers in delivering the best, and most profitable, patient care possible.
CEO & Founder