Healthcare facilities today face numerous administrative burdens that take time away from patient care. One such task is accurately reporting quality metrics to external oversight organizations. However, a promising new startup called Pharos is leveraging cutting-edge AI to automate this process, helping hospitals improve efficiencies.
Founded by experienced healthcare entrepreneurs Felix Brann and Matthew Jones, Pharos recently secured $5 million in seed funding led by Felicis Venture with participation from General Catalyst, Moxxie Ventures and Y Combinator. This capital injection will allow the young company to develop their technology while expanding customer partnerships.
The traditional method of manually collecting data from electronic medical records to submit registry reports is a time-consuming chore, often requiring hours per case. Pharos aims to change this through their platform’s ability to analyze unstructured EMR data and autonomously populate required reporting forms. Co-founder and medical doctor Alex Clarke’s expertise in AI helps ensure the precision needed for healthcare compliance.
By streamlining quality reporting, Pharos frees up clinical staff from paperwork so they can spend more meaningful time with patients. Hospitals also gain insights to monitor quality issues proactively. Pharos’ founders anticipate other startups will emerge in this area but believe their experience and technical skills position them for leadership in the segment.
If successful, Pharos could revolutionize an entire backend function in healthcare through transformative application of artificial intelligence. With experienced leadership and support from top investors, they are well positioned to realize this ambitious goal of simplifying an important administrative task faced by facilities worldwide.
