BOISE, Idaho, Jan. 19, 2015 /PRNewswire/ -- Proskriptive announced today the closing of their initial round of funding providing $400K in capital to further its mission of developing technology designed to promote outpatient wellcare. After a successful launch of the company in April of 2014 the funding will be used to accelerate development of Proskriptive's "Wellness Automation Platform". The company's technology applies machine learning capabilities to healthcare data in order to prescribe high impact/ low cost interventions for patients in need of care prior to the need for hospitalization or readmission.
"The success of the future economic model for healthcare in the US is predicated on providing better care before and after patients are admitted to the hospital. Proskriptive is working hard to deliver both innovative risk identification tools as well as simple and proven intervention modalities to prevent unproductive hospitalizations," said Michael Hollenbeck, co-founder and CEO of Proskriptive. "We founded Proskriptive because we believe there is a substantial opportunity for improvement in the way care is coordinated across care settings."
The $400K of funding is a combination of equity and debt financing from investor Brian Seaberg and Zion's Bank.
"It is exciting to participate in the early stage growth of Proskriptive, Inc. The healthcare market is experiencing changes from all corners -- legislatively, structurally, and technologically. A major challenge today across the healthcare supply chain is quantifying and managing risk," states lead Series AA investor Brian Seaberg. "Proskriptive's Wellness Automation predictive platform (SaaS) enables organizations in the healthcare supply chain to stay ahead of their risk and manage outcomes. The results are healthier populations and profitability across the supply chain."
"We know entrepreneurs play a critical role in growing the economy and creating jobs in Idaho, and the momentum we're seeing from the technology sector in the Gem State is exciting," said Dannea Aylsworth, a commercial relationship manager in Zions Bank's Women's Financial Group who worked with Proskriptive to secure the loan. "We're proud to support Proskriptive as they leverage technology to bring innovation to the health care system."
"Sheila Spangler and Karen Appelgren of the Business Resource Center at Zion's were instrumental in helping make this happen," said Hollenbeck. "We couldn't be more pleased with the funding provided by Brian Seaberg and Zions Bank to accelerate Proskriptive's growth in 2015."
Based in Boise, Idaho, Proskriptive utilizes advanced analytics, offers expert services, and develops impactful solutions that identify hidden opportunities within an entire population, to enable better population care and more efficient management of healthcare resources.
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