ClosedLoop.ai

Part
01
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Part
01

ClosedLoop: Media Scan

The following is a list of news media articles about ClosedLoop.ai, its founders and company collaborations including Capital Factory, Greycroft, Central Texas Angel Network and Joyance Partners.

  • CMS names 25 innovators advancing in AI Health Outcomes Challenge — November 01, 2019, here is the link.
  • Built In Austin’s 50 Startups to Watch in 2019, attached is the link.
  • CTAN is the Most Active Angel Investing Group in the U.S., here is the link.
  • 4 startups coming up at Austin's Capital Factory, this is the link to the story.
  • Top startups disrupting the healthcare insurance industry, here is the link.
  • New startup Capital wants to reintroduce founders to venture debt, the article's link is attached.
  • Setting the Startup World Ablaze: Austin Inno’s 2019 50 on Fire, here is the link news article.
  • Thrive Global buys Boundless Mind, here is the link for the article.
  • Austin Startup Funding Nears Peak Levels as 2020 Approaches, attached is the link.
  • Project NEXUS graduates first class with focus on technology problem solving, the story article can be accessed through this link.
Part
02
of seven
Part
02

ClosedLoop: History and Current Status

ClosedLoop operates as a privately held organization based in Austin, Texas, and founded by Andrew Eye and Dave DeCaprio. The company has an estimated revenue of $3.6 million and used to conduct business under the name Deep Health Technologies.


Company History


Current State

Revenue

  • The estimated revenue of ClosedLoop is approximately $3.6 million.

Customer

  • Oak Street Health is the only customer publicized by ClosedLoop. It is a wholly-capitated system of primary care firms meant for individuals (adults) with Medicare. Oak Street Health is established on a healthcare model centered on well care that is replicable and sustainable.

Employees

  • The company's total number of employees ranges between 12 to 18.

Funding

  • The company received a seed funding amounting to $3.04 million and a total of six investors. Its most recent investors are Social Starts and Joyance Partners.

Investments

  • While the company has not invested anywhere so far, Andrew Eye (the CEO) has invested an undisclosed amount in GoFish Cam. GoFish Cam operates as an Austin-based startup supplying a waterproof camera that records fishing activity. Andrew Eye is a part of the startup's advisory board.


Research Strategy:

Our research began by consulting company-related sources as they provide the most authentic and credible information. Thus, we searched through the company website, including the news and press release section, its presentations and research notes, the company blog, etc. We discovered that ClosedLoop is a recently founded company, and it is a privately owned organization. Hence, we were unable to locate any annual reports or company presentations. Furthermore, the news archive contained just three items since its inception. Though we were able to assess the client base from the case studies section, it only provided one client.

Next, we scanned through data provided by aggregator sites like Bloomberg, Crunchbase, Pitchbook, etc. We observed that the information held by these sites was repetitive and minuscule in volume. We extended this strategy to research sites such as Kantar, Ipsos, and Nielsen, which produce market-related information for various sectors. The idea was to deduce data from these websites based on research conducted on predictive analytics and AI-based organization in healthcare services. Though we acquired information on the sub-segment and other players from this strategy, there was no mention of ClosedLoop, as it is a new market entrant.

Afterward, we focused on each missing data point specifically. For information related to revenue projections and other financials, we tried analyzing the AI and predictive analytics software industry. The idea was to assess the market size and then deduce the company's share, leading to more informative data. However, this strategy failed as there was no available market share percentage, along with other related percentage splits. For details on important milestones, we explored popular AI software forums and associations such as WeForum, Semicon West, VentureBeat, etc. We wanted to deduce historical information discussed on these platforms by other organizations, customers, investors, etc. Nonetheless, there was no such information for ClosedLoop.

We also tried to observe the cycle of changes for the website, using a time machine, which was unsuccessful. Regarding adjustments in senior leadership, we referred to sites like LinkedIn, Glassdoor, and Indeed, among others. We discovered that the current executives have been there with the company since its inception, confirming that there has been no notable leadership changes. To gain insights on the major customers, we examined the leading healthcare services providers in the market. The idea was to look for any association or partnership with ClosedLoop. We consulted companies such as UHG, Cardinal, and McKesson, among others., but ClosedLoop was not named.

During our research, we were unable to locate information on the significant milestones, changes in leadership, and revenue projections for ClosedLoop. The primary reason for the limited availability of information is that the company is a private entity that is not obligated to disclose data to the public. Also, ClosedLoop is a recently established business, with less than three years in operation. Therefore, the company has yet to achieve milestones, organize an exceptional client-base, or offer strategic revenue projections. Furthermore, ClosedLoop faces stiff competition in the market from other startups, which may cause it to refrain from publishing information publicly.
Part
03
of seven
Part
03

ClosedLoop.ai: Founder Information

Andrew Eye has an impressive biography, a man from Maryland who emigrated to Austin, Texas, to put down roots and build his most successful company until this moment: ClosedLoop. He has two daughters and a pet named Sophie. After graduated Summa cum laude with a degree in Management Information Technology at the Virginia Polytechnic Institute and State University, he became Founder and Co-founder of three companies: Bodkin, Ciphent, and Boxer, which were later sold; after that, in 2017, he built his major success.

Andrew Eye´s Personal Background

  • Andrew Eye was born in Maryland, in the United States. Mr. Eye established his company called ClosedLoop in Austin, Texas, and this is also the city where he met his wife.
  • Andrew Eye has two daughters who live with him at his home in Austin, Texas, US. The family owns a "Dock Dog" named Sophie, branded as champion in some competitions.
  • Andrew studied at the Archbishop Spalding High School from 1994 to 1997. During the same year, Mr. Eye enrolled in the Virginia Polytechnic Institute and State University from 1997 to 2001. He also studied the program of Business Information Technology, graduating with Summa cum laude designation.
  • An interesting fact about Andrew Eye is that raising a family is very important to him. In an interview with We Are Austin Tech, he said he chose Austin, Texas, to establish himself because the city is suitable to start your company and raise a family at the same time. He said, "Austin is a place where people can put down roots."

Andrew Eye´s Professional Background

  • The professional career of Andrew Eye began as a software architect working with major institutions like NASA and the US Marine Corps. He also worked in other tech companies like i2 technologies.
  • From 2006 to 2007, Andrew Eye was co-founder and CEO of Bodkin Consulting Group. He worked with Fortune 500 brands and technology companies to shape their interactive marketing strategies.
  • Andrew Eye has more than 20 years of entrepreneurial and executive experience in B2B and B2C, for startups and Fortune 500 companies. In 2007, he founded his first real successful company, a cybersecurity firm called Ciphent.
  • Ciphent grew to a total of 100 employees and 1,000 customers in 2010, before being acquired by Accuvant (Optiv). Ciphent had a three-year growth rate of 8900%. The company got recognized by Inc. Magazine as the #16th "Fastest-Growing Private Company in the United States."
  • From 2010 to 2012, Andrew was the Accuvant’s senior vice president of services; soon after that, Accuvant acquired Ciphent. He continued through the merge for two years until he ultimately left the company in 2012.
  • In 2012, Andrew Eye co-founded the mobile software company called Boxer. In words of Andrew Eye: "Boxer is a faster, smarter mobile inbox that adapts to the way you work. Boxer lets you tailor every aspect of your inbox and get more done in less time."
  • Boxer won several prizes, including a 2015 Webby Nomination. Boxer was acquired by VMware in 2015, one of the largest global companies during that year. From 2015 to 2017, Andrew was vice president of strategy, and board member of VMware and Service Dogs, Inc.
  • In September 2017, Andrew was the CEO and Founder of ClosedLoop, a data science platform for healthcare. He has been working in that company for the last two years and two months until today.

Press Articles and Interviews About Andrew Eye

  • The information Andrew talks about during the interview is about how the "messy data" in the healthcare sector can be useful to help patients and physicians. This knowledge can help to predict the future health outcomes of people.
  • On Zerofox´s podcast, Andrew Eye speaks concisely about the new risks organizations face. Mr. Eye explains the possibilities of being digitally attacked through social media and how crucial it is to be protected against these types of attacks.
  • The Speaker profile of Andrew Eye for the Precision Medicine World Conference conducted in September 2018, includes a biography, a CloseLoop brief description, and a slight insight into his lecture's topic.

Research Strategy

Our research team began the investigation on the official website of ClosedLoop company, Andrew's official LinkedIn profile, and Crunchbase website. The information found was mainly about his professional experience. To learn about his background, it was necessary to obtain information on other platforms like YouTube. That platform was used to retrieve recent podcasts/interviews that contain relevant information about his work. Lastly, at the PMWC website, a speaker profile of Andrew for the 2018 conference was found.
Part
04
of seven
Part
04

ClosedLoop: Competitors, Part 1

Six true competitors of ClosedLoop are Prealize, Omni-HealthData, Blue Health Intelligence, Health Catalyst, Data Robot, and Inovalon. The complete information regarding these companies is provided in the attached spreadsheet. A short brief of the findings is presented below.

Prealize

  • Based in Palo Alto, California, Prealize helps health plans, employers, and providers in the US to power proactive healthcare. The company is a direct competitor of ClosedLoop, as it uses machine learning to transform healthcare from reactive to proactive and identifies high cost members before a high cost event occurs.

Omni-HealthData

  • Omni-HealthData collects and integrates patient data to easily retrieve it, interact with it, and share it. It is a direct competitor of ClosedLoop, as this company's platform also targets patients for specific treatment programs to increase cost-efficiency and it monitors adherence to care plans, among other similar characteristics.

Blue Health Intelligence

  • Blue Health Intelligence (BHI) provides insights that help improve patient care, reduce costs, and optimize performance. It is a direct competitor of ClosedLoop because it also identifies at-risk patients to determine appropriate levels of care and disease management.

Health Catalyst

  • Health Catalyst allows customers to manage their data, derive analytical insights, and deliver measurable clinical, financial, and operational improvements. It is a direct competitor of ClosedLoop, as the company offers the catalyst.ai platform, which also provides machine learning that helps predict risks, no-shows, chronic conditions, and other similar characteristics.

Data Robot

  • Data Robot allows healthcare organizations to transform data into insights and predictions that help down costs, and improve quality of care. It is a direct competitor of ClosedLoop as its healthcare platform predicts no-shows, incorporates patient retention risks, and determines which patients are less likely to adhere to a drug regimen, among other similar characteristics.

Inovalon

  • Inovalon provides cloud-based platforms for data-driven healthcare. It is a direct competitor of ClosedLoop because, with its Inovalon ONE Platform, it offers emerging patient-specific diagnoses prediction and highly-targeted interventions, as well as artificial intelligence solutions that improve patient outcomes and economic performance.
Part
05
of seven
Part
05

ClosedLoop: Competitors, Part 2

One of Prealize's competitive advantages is its ability to identify the following year's new high-cost members before a high-cost event happens. Omni-HealthData manages mastered subjects and transactional subjects organized into business domains. Pricing information for both companies is not available in the public domain

1. Prealize

Competitive Advantage

  • Prealize, formerly known as Cardinal Analytx, is capable of identifying next year's new high-cost members before a high-cost event occurs.
  • Through the provided solutions, the firm can "identify next year's risk and find the most impactable members for clinical outreach before their health worsens."
  • Prealize can also "predict high-cost clinical procedures like knee and hip surgery to enable earlier outreach for finding the highest value provider."
  • It can as well predict the prospective and retrospective cost to enable the most accurate cost projections, pricing, and risk adjustment.

Target Market

  • The company has been powering proactive healthcare by working with clinician teams "to precisely target interventions that improve the quality of care and contain costs."

Services

2. Omni-HealthData

Competitive Advantage

  • Using Omni Health data, the users can serve themselves and quickly get answers and insights from relevant data, right when they need it.
  • It's easy for non-technical, mainstream users to obtain and analyze information on both web browsers and mobile devices.
  • Omni-HealthData manages mastered subjects and transactional subjects organized into business domains.
  • Omni-HealthData provides an accurate, integrated view of each area, enabling a 360-degree view of mastered subjects, their derivation from source records, and their history over time.

Target Market

  • Omni-HealthData provides data solutions to the payers and providers within a comprehensive view of healthcare practices.

Services

The company provides the following solutions:
Provider Solutions:
Payer Solutions:

Research Strategy

Information on the prices of each of the companies is not available in the public domain.
It appears that the companies invite buyers to contact them via the contact form available on the website, whereby the quotes or other queries related to the pricing of the services are discussed. The companies likely provide tailored prices according to the needs of each client.

To find out the prices of the services offered, we first checked the companies' official website, publications, and press articles, among others. The initial idea behind the strategy was because companies usually provide pricing information along with the services offerings. However, we could not find anything relevant to the pricing of the services with this approach. Both the companies had a contact form available using which they invite customers to use for any queries using which one can probably find out the tailored prices. Omni Health data also has a "Request Demo form," which is available to be used for services demo. Hence, no information was found using this strategy.
The research team's second strategy was to find pricing information through both companies' client perspectives. Here, the idea was to determine if such clients have released any publications relevant to the pricing of the services they have received from Prealize and Omni-HealthData. Checking through companies (clients) like Grand River Hospital, Halifax Health, Louisiana Department of Health, and Queensway Carleton Hospital, among many others, we could not find any mentions of the pricing that either Prealize or Omni-HealthData offered these companies.
We switched gears to check for reports that suggest healthcare business analytics services to determine if these include any information on the pricing of the services provided by these two companies or similar other players in the industry. We checked through sites such as KLAS and CHIME, and Healthanalytics, among others, but were unable to identify any such reports with pricing included. These majorly covered the identification and measurement of high-value usage, key performance indicators, staffing shortages, supply chain management, etc. but did not include anything on pricing.
Finally, we resolved to check for any interviews given by Prealize or Omni-HealthData's executives. With this strategy, we were hoping to obtain relevant statements by the executives on how their pricing compares to other industry players. We considered the approach since interviews at times cover information which otherwise may not be available through other databases. Checking interviews through ehealthitanaytics, caithority, onblucrossnc, and among others, we were unable to cite any interviews that could help us determine any information on the pricing of the services offered by the companies. Hence, no information could be derived.
Part
06
of seven
Part
06

ClosedLoop: Competitors, Part 3

BHI analytics undergoes four levels of certification, including an independent third-party actuarial review, to ensure the strongest foundation of statistically reliable data. Health Catalyst is backed up by a team of healthcare veterans with hundreds of years of combined experience leading care transformation at health systems. The requested information is provided in the attached spreadsheet, rows 5-9, columns E-F.

Blue Health Intelligence:

  • BHI's predictive analytics capabilities can identify patient risk factors for rare conditions that have eluded other organizations, allowing clients to address those factors proactively.

Target Market

Blue Health Intelligence solve clinical and business problems and develop long-term strategies for:

Health Catalyst

Competitive Advantage

  • Healthcare veterans pioneered a new data warehousing architecture that uses a just-in-time approach to data binding to resolve many of the problems they encountered using traditional data warehousing methodologies.
  • The Health Catalyst Late-Binding™ Data Warehouse combines that architecture with a set of sophisticated analytic applications and services to enable their health system partners to realize measurable value within months of deploying the company's solutions.

Target Market

Research Strategy

Information around how the companies price their services is not available. It appears that the company invites buyers to contact them via the contact form available on the website whereby the quotes or other queries related to the pricing of the services may be mentioned. It is likely that the companies provide tailored prices according to the needs of the clients; hence, the prices are not readily available.

In order to find out the prices of the services offered, we first checked the companies' official websites, publications, press articles, among others. This was primarily because companies usually provide pricing information along with the services provided. However, going through this approach, we could not find anything relevant to the pricing of the services provided. Both the companies had a contact form available, which they invite customers with any kind of queries to use, which can probably find out the tailored prices. Health Catalyst also has a "Request Demo" form, which is available to be used for services demo. Hence, no information was found using this strategy.

We then moved on to check for the pricing information through both the companies' client's perspective. Here, the idea was to find out if the clients of these companies have released any publications relevant to the pricing of the services they have taken from the BHI and Health Catalyst. Checking through companies like Acuitas Health, Allina Health, Billings Clinic, CHOC Children, Honor Health, among many others, we could not find any mentions of the pricing these companies were offered by either BHI or Health Catalyst.

We then checked for reports that actually suggest healthcare business analytics services to identify if these include any information on the pricing of the services provided by these two companies or similar other players in the industry. Checking through KLAS and CHIME, Health Analytics, MarketsandMarkets, among others, we were unable to identify any such reports with pricing included. These majorly covered, identifying and measuring high-value usage, key performance indicators, staffing shortages, supply chain management, among others, but did not include anything on pricing. Hence, this strategy could not be taken further.

Next, we then moved on to check interviews from the executives at BHI and Health Catalyst, where we were hoping to find out if any of the executives have stated anything about how their pricing is compared to other players in the industry. This was considered since interviews at times cover information which otherwise may not be available through other databases. Checking interviews through HealthITAnaytics, Blue Cross Inc, among others, we were unable to cite any interviews that could help us determine any information on the pricing of the services offered by the companies. Hence, no information could be derived.
Part
07
of seven
Part
07

ClosedLoop: Competitors, Part 4

Rows 5-9, columns G-H in Sheet 1 of the attached spreadsheet have been completed with the requested information. Data Robot helps data teams to work together using machine learning models in production environments. It targets clients in the banking, healthcare, insurance, and fintech industries, among others. Inovalon offers ONE® Platform to help clients operate large data-driven healthcare programs. Its competitive advantage is in using MORE2 Registry®, America’s largest primary source dataset, to inform its work.

Data Robot

Competitive Advantage

Target Market

Services

Pricing

Inovalon

Competitive Advantage

Target Market

Services

  • Inovalon offers the Inovalon ONE® Platform which is an integrated cloud-based platform consisting of around 100 independent technology toolsets called modules and expansive data assets that can be rapidly configured to help in operating large data-driven healthcare programs.
  • Modules are combined to quickly provide highly scalable solutions for the needs that customers have. Modules are designed to be used with the client’s other solutions and capabilities. The Platform enables clients to analyze large data and visualize it to gain meaningful insights to inform business strategy and execution.

Pricing

Sources
Sources

From Part 02
Quotes
  • "Andrew’s executive and entrepreneurial experience spans nearly 20 years in B2C and B2B, for startups and Fortune 500 companies. Andrew founded and sold three technology companies and today is the CEO and Founder of ClosedLoop.ai."
Quotes
  • "ClosedLoop.ai was seed funded by 2 investors on Feb 9, 2018. Social Starts and Joyance Partners are the most recent investors."
Quotes
  • "Provider of an artificial intelligence platform intended to provide healthcare services. The company's platform provides predictive risk models with accuracy ratings, deploys fast setups with big data and lowers cost with SaaS delivery model, enabling patients to receive proper healthcare services. It was formerly Known As Deep Health Technologies"
  • "LATEST DEAL AMOUNT: $3.04M"
Quotes
  • "GoFish Cam, an Austin startup with a waterproof camera to capture fishing activity, added Andrew Eye to its advisory board. Eye is CEO of Closedloop.ai and is a GoFish Cam investor. GoFish Cam is raising new money through SeedInvest, the online crowdfunding platform that allows investment from accredited and non-accredited investors"
Quotes
  • "Oak Street Health, a fully-capitated network of primary care practices for adults on Medicare, is built on a sustainable and replicable healthcare model focused on well care, not sick care. “ClosedLoop stood out from other AI firms in that they offered not only a usable, flexible analytics platform but extensive healthcare expertise” – Drew Crenshaw, Chief Population Health Officer."