Proskriptive has raised $400,000 through its initial round of funding to further its mission of developing technology designed to promote outpatient wellness.
The funding will be used to accelerate development of Proskriptive's wellness automation platform. The company's technology applies machine learning capabilities to healthcare data in order to prescribe high impact/ low cost interventions for patients in need of care prior to the need for hospitalization or readmission.
"The success of the future economic model for healthcare in the US is predicated on providing better care before and after patients are admitted to the hospital. Proskriptive is working hard to deliver both innovative risk identification tools as well as simple and proven intervention modalities to prevent unproductive hospitalizations," said Michael Hollenbeck, co-founder and chief executive officer of Proskriptive. "We founded Proskriptive because we believe there is a substantial opportunity for improvement in the way care is coordinated across care settings."
The funding is a combination of equity and debt financing from investor Brian Seaberg and Zion's Bank.
Seaberg said: "It is exciting to participate in the early stage growth of Proskriptive, Inc. The healthcare market is experiencing changes from all corners - legislatively, structurally, and technologically. A major challenge today across the healthcare supply chain is quantifying and managing risk.
“Proskriptive's wellness automation predictive platform (SaaS) enables organizations in the healthcare supply chain to stay ahead of their risk and manage outcomes. The results are healthier populations and profitability across the supply chain."
"We know entrepreneurs play a critical role in growing the economy and creating jobs in Idaho, and the momentum we're seeing from the technology sector in the Gem State is exciting," said Dannea Aylsworth, a commercial relationship manager in Zions Bank's Women's Financial Group who worked with Proskriptive to secure the loan. "We're proud to support Proskriptive as they leverage technology to bring innovation to the health care system."
Proskriptive, Michael Hollenbeck, Risk Management, US, Brian Seaberg, Zion's Bank, Dannea Aylsworth