Elios Health team (from website)
Eleos Health, an Israeli medtech startup that develops CareOps Automation for behavioral health, raised $40 million in a Series B funding round led by Menlo Ventures. At the same time, Israeli solar companies Solar Drone and Blade Ranger have announced merger plans, reported Calcalist. The two firms make solar panels.
Founded in 2020, Solar Drone developed a drone for cleaning solar panels. Founded in 2016, BladeRanger develops AI and Robotics O&M technologies for the solar power industry.
Co-founded in 2020 by Alon Joffe, Alon Rabinovich, and Dror Zaide, Eleos Health boasts a breakthrough clinical application for voice artificial intelligence AI, operating ambiently in the background of behavioral health clinician-patient conversations (full patient consent and permission are pre-conditions of clinical use). This can be used by mental health professionals to get a better understanding of what their patients are feeling when they speak during sessions.
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Eleos Health explains that 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%.
“We believe client-centered care can’t happen without a human provider at the center of the therapeutic relationship, which is why we focus on augmenting — not replacing — their ability to engage with and help clients effectively and efficiently,” said Eleos CEO and Co- founder Alon Joffe. “We started Eleos after personally witnessing the immense administrative barriers facing clinicians — through our own experiences and those of our loved ones. The providers will always be the heroes of the care story — we’re just here to help them write it better and faster.”
The company says that its new tech securely and autonomously captures and interprets in-session themes and moments, generating post-session clinical progress notes and insurance coding. On average, says Eleos Health, it can cut clinician documentation time by 40%. Eleos’ superpower is its ability to give both individual clinicians and clinical leadership original insights
Eleos Health’s tech 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.
