What You Should Know:
– Eleos Health has announced a $20 million Series A round, co-led by F-Prime Capital and Eight Roads Ventures, bringing their total raise to $28 million.
– Eleos Health is a behavioral health application for voice AI, operating ambiently in the background of mental health clinician-patient conversations. It’s in production use with 20+ care providers and health plans, with a goal of unlocking up to 30% more mental health care provider capacity as the U.S. grapples with clinician shortages.
Eleos Health, a provider of CareOps Automation for behavioral health, today announced that it has raised $20M in Series A funding. The round was co-led by F-Prime Capital and Eight Roads Ventures, with participation from existing investors aMoon Fund, lool ventures, and Arkin Holdings, bringing Eleos’ total raise to $28M.
CareOps Automation: The Future of Behavioral Healthcare
Today, 30 million Americans are living with untreated mental health conditions. Even the most optimistic math shows that the current supply of 600,000 active licensed U.S. therapists falls far short of meeting patient demand. As the U.S. works to expand its behavioral health workforce, existing mental health care providers are shouldering a crushing workload, with self-reported burnout rates among psychiatrists at 78%. Launched in early 2020, Eleos Health is a breakthrough clinical application for voice AI, operating ambiently in the background of behavioral health clinician-patient conversations (full patient consent and permission are pre-conditions of clinical use).
Overlaying mainstream electronic health records (EHRs) and operable in both virtual and in-person care settings, Eleos securely and autonomously captures and interprets in-session themes and moments, generating post-session clinical progress notes and insurance coding. On average, Eleos cuts clinician documentation time by 40%. Eleos’ superpower is its ability to give both individual clinicians and clinical leadership original insights. Some of the most common insights Eleos produces are:
– Recurring in-session keywords spanning major conversational themes and moments
– How a clinical intervention was used: CBT might include a mood check, agenda setting, reflective listening, homework and action planning
– Clinician listen time vs. talk time, or when and how often a clinician interrupts a patient
– Practice-wide percentage of clinicians delivering evidence-based practice
– Patient improvement rate
“Behavioral health practitioners deserve advanced technology representative of and equal to the role they play in caregiving and healing,” said Alon Joffe, CEO and Co-Founder, Eleos Health. “In behavioral care, the conversation is the treatment. For the first time, Eleos is making it possible to digitize and manage the unstructured nature of behavioral health conversations, lending psychotherapists a new line of sight into patient needs, progress and outcomes.”
Traction to Date
Eleos is currently used by thousands of clinicians across more than 20 national care providers and health plans, including Gaudenzia Home, The Brookline Center for Mental Health and Coleman Health Services. Eleos has captured more than 6.5 million minutes of treatment to date, and is projecting 30 million minutes captured by the end of 2022.
