Caresyntax uses software and AI to improve patient outcomes in the operating room
Interview with Stevem Loeb and Bambi Francisco Tim Lantz, President and Chief Operating Officer at Caresyntax, a company that uses software and AI to improve patient outcomes in the operating room.
The data collected by Caresyntax can be used live by the care team during a procedure and accessed by people outside the operating room via the platform’s telemedicine link. Post-procedure, the Caresyntax platform provides insights to help surgeons assess and improve their care, hospital administrators to use surgical resources more efficiently, medical device companies to develop better products, and insurance companies to understand risks and develop tailored policies.
Founded in 2013, the company has raised $ 177.5 million in venture capital, including a $ 100 million round in April.
For these digital health podcasts, our goal is to understand these three overarching questions as well: How do we empower consumers? Are we creating a productivity that also enables us to reduce overall economic costs? How is this advancement changing the role of the doctor?
Highlights from the interview:
Caresyntax is a software and data company focused on digital surgery with the goal of improving operational outcomes, clinical outcomes, and financial outcomes in the operating room. The platform serves surgeons and their practicing hospitals as well as insurance and medical technology companies with the aim of bringing all these groups together.
There has been an explosion of data and technology in healthcare, however You don’t see it that often in the operating room. This is because, unlike many other medical facilities, the operating room is a very physical place where a team and a patient are open on a table. While documentation and templates are used, it is very time consuming and the electronic medical record just doesn’t transfer well into this environment.
Much of the innovation in healthcare has centered more on expensive medical treatments, including understanding drug interventions and managing drug costs, managing chronic disease and end-of-life care, and population health. The focus on surgery received less emphasis as much of the technological innovation has been aimed at creating better devices and implantable devices.
Caresyntax supports all aspects of the operation, i.e. before, during and after the operation. It starts with looking at what is going on with the patient while the surgery is being planned and then the workflow, and then it is translated into its intraoperative product that will be used during the case. This can help set up a room and manage quality checklists, and also provides the surgeon with a better visual connection during the operation via video, image and audio. After all it is collects this data and these images and videos so that you can evaluate the operation after the operation.
The company is integrate more financial data into its platform, including looking at the cost of care as well what economic benefits the care brings to the service provider. TThe cost to the insurance company is the income to the providerHere is often a misalignment of incentives between them: insurance companies and the state want to spend less, but hospitals are under pressure and surgeons still want to do more. By overlaying the economics of surgery, Caresyntax can balance some of these economic incentives.
Around 400,000 people die each year from postoperative complications during surgery; globally, this number is closer to 4 million per year. Caresyntax provides the opportunity to create an environment in which every surgeon and hospital has the tools and information they need to get better and reduce this risk. The risk will always be there, but Caresyntax can provide the tools to identify and manage it and to be proactive.
Almost every surgeon Lantz has ever spoken to wants more of this technology, and he really wants to do better, butThey want to be able to use technology in their workflow in a well thought-out way without a lot of additional work being imposed on them.
Hospitals still make up the lion’s share of Caresyntax’s end users, and Lantz anticipates this will continue to be the case. There are about 6,000 hospitals in the United States, and Caresyntax currently has about 150; in more than 300 hospitals worldwide.
While operations have been reduced worldwide, hospitals using Caresyntax have performed 10% more operations than the global average. This means that these hospitals did not see such a drastic drop in their revenues. It also helped patients maintain access to medical care so they could get the surgeries they needed.
- During COVID, Caresyntax implemented a virtual care solution that is not yet generally available. It enables medical device representatives to remotely perform telepresence in the operating room, which can be very helpful in cases where hospitals want to limit the number of people. It also enables surgical teams to obtain the assistance of the equipment representative even when they are not physically present. Another use case is remote monitoring and surgeon support; When a surgeon is in a remote area or hospital and needs to perform a procedure, they can be removed and supervised by an expert at a medical center in a large city.
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