NarrativeDx Raises Series A
NarrativeDx, an Austin-based health IT startup that developed a way to analyze patient feedback and visualize that information, has closed a Series A round. The startup was part of Dreamit 2014, along with BioBots, Tissue Analytics, RegDesk and TowerView Health.
With the fresh round of funding, the startup plans to grow its client base, partly through strategic partnerships, according to an email from NarrativeDx marketing director Ashley Conway. Other plans for the funding include expanding its product offer further to address different parts of the patient.
LiveOak Venture Partners, Cultivation Capital and HealthX Ventures led the round. The business has raised $4 million to date. Last year, the startup raised a little more than $1.1 million.
The company’s technology analyzes comments at a per-phrase level and identifies sentiment, key themes, procedures, and readmission risks based on complex patient comments. The idea is that hospitals can use the feedback to solve relatively simple problems or at least get a better grasp of what is motivating patient responses.
Some examples of other companies that have taken aim at improving the patient experience in ways similar to NarrativeRx include Nobl Health, Callie Solutions, and CipherHealth.
Read the full article in MedCity News.