MedCity News August 18, 2021
ClosedLoop.ai, an Austin-based healthcare startup, raised new funding after being picked by CMS as the winner of its AI Health Outcomes Challenge. The company’s secret? Working with health systems to build algorithms that are explainable.
When ClosedLoop.ai entered an AI contest hosted by the Centers for Medicare and Medicaid Services (CMS), it faced several big competitors: IBM, Mayo Clinic and Geisinger. But in the end, the startup from Austin won.
What was their secret?
CEO Andrew Eye said focusing on transparent, explainable algorithms helped ClosedLoop clinch the victory in April. Since then, the startup recently closed a $34 million funding round led by Telstra Ventures.
Many AI competitions focus solely on accuracy, meaning the victor might be the company...
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