GYANT: Enabling the Digital-First Next Era of HealthcareGaurav Garg Sara Choi | July 15, 2020
We first met the founders of GYANT, Stefan and Pascal, through a laptop screen – by chance, as our in-person got rescheduled, then by necessity, as COVID-19 spread and took its toll. Their vision of dramatically transforming the way health systems and patients interact could not be more relevant in the health crisis we see today, and we at Wing are thrilled to lead GYANT’s Series A.
Digital Transformation of Health Systems is Finally Here
If the last decade+ in the evolution of tech in health systems was devoted to beginning the journey by converting medical records to EHRs (thanks, HITECH act), the decade upon us will be all about building upon this work and accelerating digital transformation. COVID-19 fast forwards what might have taken years otherwise – advances in telehealth, remote care and monitoring, and digital experiences.
Even pre-COVID, health systems were facing 10-year low margins with reimbursement and expense pressures, in addition to tech-forward entrants chipping away at primary care, a critical business feeder. Now, patient engagement has moved digital-first in what we predict is an irreversible and positive change.
The time is now for health systems to innovate digitally or risk obsoletion.
Arrival of ML in Digital Life Sciences and Health
Biology is incredibly complex – so complex, in fact, that even with the compute power that we have today, we are only beginning to unpack the second and third-order effects of incredibly complicated mechanisms of action within our own bodies. We need to employ statistical techniques, particularly by using machine learning, to aid us in the discovery of novel insights, innovations, and improvements in patient care. Without ML, the amount of data to process would be too great, and even with ML and compute today, science still hits many walls. We look for companies at the intersection of data and health that are designed to maximally take advantage of and create novel data streams. Enter, GYANT.
GYANT: A Data-First Must Have For “Consumerization” of Healthcare
GYANT serves as a critical component in the new era of digital transformation by providing health systems with a much-needed consumer interface and sophisticated data capture/EHR integration. This begins with GYANT’s digital triage and continues along the entire patient journey with products like digital waiting room, async care, pre-and-post-care outreach, and app integrations.
Stefan, Pascal, and team took the hard route of building GYANT data-first, training their ML models on millions of actual patient interactions, and growing the data trove every day. Through this, their offerings now understand over 6,000 user intents, enabling GYANT to provide relevant communication and triage patients to the appropriate care – whether it’s a telemedicine appointment, or an aspirin and advice to stay at home.
Standard online triage protocols prior to GYANT had accuracy rates in the 40th percentile – with GYANT’s trained ML models, accuracy jumps to over 90%+. Health systems can convert and retain users while reducing costly operational expenses like calls, and GYANT counts some of the most innovative and influential health systems in the US as customers.
Wing’s Partnership with GYANT
Aside from their obvious intellect (like the PhD Stefan never talks about), what struck us immediately about Stefan and Pascal is they are incredibly determined and unafraid of taking the hard-but-right path. As immigrants who came to America 5 years ago, they really took the time to understand the US healthcare system, building an incredible data moat to successfully sell to large health systems – an insanely difficult task, especially for tech entrepreneurs!
We live in turbulent times where we need determined, resilient founders and their world-changing ideas more than ever. Wing is proud to partner with Stefan, Pascal, and GYANT – the first company funded out of Wing Three and our first ever entirely virtual investment – to lead their Series A.
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