DocSynk’s Machine-Learning Platform for Healthcare Closes $1 Million Seed Funding from Naya Ventures
Hyderabad, October 10, 2016
DocSynk's new machine-learning platform uses data science to put people in control of their healthcare, driving productivity and reducing costs for employers, insurers, and doctors.
Finding doctors, scheduling appointments, keeping on top of insurance, and complying with wellness and treatment plans are challenges we all have to face. It's a lot to keep track of. DocSynk is working to make it all much easier with a smarter, simpler app that uses the latest in machine learning and data science to deal with the complexity.
Today, the company announced that it closed a $1 million seed funding round led by Hyderabad-based Naya Ventures. "DocSynk's mission of bringing transformation in patient engagement is sorely needed in US healthcare. Organizations of every size are looking for DocSynk's innovative solutions," said Dayakar Puskoor, the managing director of Naya Ventures. "With DocSynk, healthcare providers, employers and employees can all benefit in a win-win partnership."
DocSynk's patent-pending technology provides a one-stop app for a patient's healthcare needs. Although patient-focused, the platform also benefits employers, healthcare providers (hospitals, physician groups, and ACOs), and insurers by reducing complexity and operating expense while increasing patient engagement.
Employers can transform from traditional benefits to employee wellness programs, reducing stress and enhancing health and productivity. Hospitals, physician groups and ACOs increase patient transparency while improving the trifecta of revenue cycles, operational excellence and patient satisfaction. Insurers working with DocSynk benefit from improved in-network utilization, lower operating costs, and increased client satisfaction.
DocSynk is led by medical technology innovator Vaidyanatha Siva, the former director and executive of Parkland Hospital's Center for Clinical Innovation and CTO of Infosys Ltd's Life Sciences business unit. Siva is an alumnus of the Indian Institute of Technology, Madras. Siva brings twenty years of global technology leadership experience, including previous startup IT Solutions (acquired in 2002 by NTT Data), to the Dallas startup.
"Dallas and North Texas," says CEO Siva, "are the perfect place to launch a healthcare startup. We have more than eight million people, a diverse ecosystem of healthcare providers, multiple insurers, and large employers. The technical and professional talent pool is deep, operating costs are low, and we have world-class investors on tap. We are excited about the possibilities of solving both consumer and business-related challenges and look forward to sharing exciting news about several key partnerships in the coming weeks.".