Healthcare deeply and meaningfully impacts every single person on earth. Droice Labs was started with a belief that they can make healthcare sector better, a lot better, by empowering decisions based on data, and that AI is a tool that can empower doctors to provide higher quality care.
Droice Labs' technology leverages a combination of the latest medical research and learning algorithms to offer doctors with critical real-time data to make the right decision, enabling doctors to improve patient outcomes and streamline patient flow through health systems. Read this article to know about Droice Labs, products/services, founders & team, and achievements.
Droice Labs - Company Highlights
|Startup Name||Droice Labs|
|Founders||Mayur Saxena, Ashanideepta Bhattacharya, Tasha Nagamine, Harshit Saxena, Aleksandr Makarov, Dr. John Kahoun|
|Parent Organization||Droice INC|
About Droice Labs and How it Works
Droice Labs is an AI company specializing in understanding real-world clinical data to solve problems across the healthcare system. Its solutions provide answers to the key questions that healthcare entities have, helping them to make optimal decisions and to better understand diseases and the patients they affect.
The company uses the latest advances in machine learning and analytics to build products that streamline clinical workflow and help doctors make the best decisions in the toughest of circumstances, faster. Their versatile AI pipeline can be integrated with a large range of healthcare data sources such as Electronic Medical Record systems. These products affect millions of clinical decisions every day and have touched the lives of millions of patients.
"We use this technology to help payers, providers, and hospital finance teams to fill documentation correctly, capture missed revenue, and fill care gaps. With our deep patient and disease understanding engine, we also help payers detect over-billing, design better plans and prioritize the right interventions to cover", said Mayur Saxena, CEO of Droice Labs.
The company's multidisciplinary team of doctors, data scientists, engineers, researchers, and security experts is passionate about transforming healthcare by empowering data-driven healthcare decisions. They have a very open environment where people are encouraged to share new ideas. The team is intelligent, curious, ambitious, imaginative, and passionate about technology.
Droice Labs - Target Market Size
The company's target is the global healthcare market. Currently, it is active in the US & Europe where the total market size for the values it creates for healthcare systems is approximately $20B and growing.
The company's offerings also cater to R&D and Medical Affairs departments within life sciences companies in the area of Real World Evidence studies and intelligence, and the total current market size for these services is over $100B globally.
Droice Labs - Product/Services
Droice Labs' flagship product, Droice Hawk is an AI-based platform that helps doctors, hospitals, life sciences, and payers make more informed decisions and improve outcomes. The core of Hawk technology is the company's medical language understanding engine Flamingo, which is trained on billions of diverse clinical notes.
Flamingo can find meaning in free form medical text in multiple languages including English, French, German, and Russian, and can easily incorporate new languages. This technology is used alongside other states of the art machine learning methods to deliver unprecedented real-time insights and action plans at both population and individual patient levels.
Hawk can sift through both structured and free form data from disparate patient data sources like electronic medical records, lab systems, claims databases, and pharmacy systems to generate high-resolution snapshots of patients. These insights delivered by Hawk help key stakeholders in the healthcare space to make better healthcare decisions for all:
- Hospitals gain revenue in risk-sharing contracts and provide better, more efficient care.
- Payers can detect overbilling, design better plans, and prioritize the right interventions to cover.
- Life sciences companies can identify populations and cohorts for driving real-world evidence on certain conditions and therapies, understand the market better, and conduct high-impact research.
Founders of Droice Labs and team
Droice Labs was founded by Mayur Saxena, Ashanideepta Bhattacharya, Tasha Nagamine, Harshit Saxena, Aleksandr Makarov, and Dr. John Kahoun.
The team of Droice Labs is composed of people with world-level expertise in Healthcare Business, Medicine, Artificial Intelligence, Natural Language Understanding, and Life Sciences data-driven research.
Mayur Saxena, Ph.D. | CEO: Mayur has been part of several high growth startups. He has spent the last decade in healthcare data strategy and precision medicine. He is the Cofounder of Ardent Cell Technologies, a cell therapeutics company in the diabetes space, where the technology is undergoing human clinical trials.
Previously, Mayur worked with some of the largest management consulting firms designing a strategy for artificial intelligence-based healthcare offerings. He currently advises several companies on AI strategy and the "data play".
Tasha Nagamine, MS | Data science: Tasha specializes in a special domain of AI — biologically inspired neural networks. As part of her Ph.D. work at Columbia University, she developed cutting-edge technologies to elucidate the reasoning behind neural network-based predictions.
At Droice, Tasha leads the AI team to develop state of the art technology that understands a doctor's thought process through natural language understanding.
Harshit Saxena, MS | Engineering: Harshit manages the integration of cutting-edge AI solutions in large healthcare enterprises. Previously, he led product integration and development teams at GE and Oracle.
He studied machine learning in his MS at Columbia University and worked alongside industry and academia on computer vision technologies for autonomous vehicles and other automatic AR, 3D mapping applications.
Ashanideepta Bhattacharya, MS | Engineering: Deep is a Certified Ethical Hacker and a Cybersecurity Master's graduate from New York University who has prior experience in penetration testing, incident response, technical investigations, business continuity, and disaster recovery.
As CISO, his mission includes creating a "risk aware" culture that places a high value on securing and protecting the information entrusted to Droice.
Alekandr Makarov, MS | Business development: He completed his masters in Data Science from Columbia University. Before joining Columbia for his Masters, Alex was the Head of Business Intelligence for FoodPanda HK, a Hong Kong-based part of a global mobile-based food delivery company.
He has also been heavily involved in several projects at IBM in Moscow around big data analytics and machine learning.
Dr. John Kahoun, MD | Clinical: He is a founding partner of one of the biggest urgent care chains in the United States (CityMD, acquired by Warburg Pincus for ~600 million USD). He received his medical degree from the University of Wisconsin School of Medicine and Public Health and has been in practice for more than 20 years.
He helps Droice understand hospital systems and provide clinical insights that allow for the packaging of the powerful underlying technology to a format suitable for the end-users.
Rourke M. Yeakley, MD | Head of Innovation: Dr. Rourke Yeakley is a Board Certified Emergency Medicine Physician for over 15 years and heads innovation at Droice Labs. He is the founder of Precision EM, dedicated to the development and application of precision medicine for emergency medical care.
Dr. Yeakley is affiliated with St Luke's Boise Medical Center where he is the Medical Director, Air since 2007, and at St Luke's Meridian Medical Center. Dr. Yeakley is also the inventor of Avepax medical device for single-dose delivery of liquid medications, vaccines, and Nutritionals that are mixed at the point of care.
Tadd Spering | Chief Business Officer: Tadd has held senior sales, management, and product development positions at HSBC and Catamaran, in addition to founding a web design company while earning his degree in International Business and Management at Dickinson College.
Tadd's varied skills have helped him build a world-class team at Stylinity while also serving as CEO and lead hardware engineer. Tadd has been featured in Forbes and as a panelist at PricewaterhouseCoopers.
Droice Labs - Recognition and Achievements
The company has participated in multiple highly selective accelerators: Arkansas Healthtech, SAP.io Foundry, Philips Healthworks, NVIDIA Inception, IE Entrepreneurship Columbia, Almaworks, HITLAB Digital health breakthrough network.
It has also won following awards: Rice Business Plan Competition, StartUp Exchange, Issue #32, Lee Kuan Yew Global Business Plan, GoTech GoGlobal Grand Prize, Innovation Time Awards (Best New Project in Medicine and Healthcare, Columbia Venture Competition, CVC Technology Challenge, Frenchfounders, HFMA virtual pitch, etc.
Droice Labs - Future Plans
Over the next 5 years, Droice Labs target to expand even further and be the biggest tech-enabled clinical research organisation in the world affecting hundreds of millions of patient lives every year.
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