We were all there. You will book a medical appointment and fill out the form online, but upon arrival you will be handed a clipboard full of the same questions and answered again. Also, behind the scenes, doctors and staff are spending their precious time copying and pasting, making demanding jobs even more challenging.
The operating system that most hospitals run occurs because it was developed in the 90s. The data is unstructured. There is no interoperability. The UI is not user-friendly. The results are serious in terms of both inefficiency and patient outcomes. However, despite decades of technological development, the hospital information system (“he”) remains in small quantities. why? They are very difficult to build.
Typically he is a complex, mission-critical web of modules, and the hospitals that carry them out are highly regulated and, of course, risk aversion. New businesses in this space often go back to simple point solutions that try to integrate with legacy instead of groundup overhaul healthcare.
The Munich-based team at Avelios has seen this challenge up close. During Covid, Dr. Sebastian Cramer spent valuable time counting patients by hand and then reported the results to authorities via fax. And when he and Nicholas Jacob, software engineers and deep learning experts, tried to expand promising research into classifying skin conditions with AI, they quickly became obsolete hospital systems. discovered that it cannot provide the necessary data.
There they worked with Christian Albrecht, a McKinsey alumni and former co-founder of Nicholas, to solve the problem. And instead of “treating symptoms” by building on outdated legacy software, they go the difficult path of “treating the cause” by building an entirely new guy, and at that core I decided to tackle the problem.
Over the past few years, Avelios has built a complete hospital information system that includes documents (eHR, medication, operating room management, etc.). Management (e.g. billing, staff, clinic management); patient portals; AI solutions, etc. They took a modular approach to allow them to land in hospitals along with one offering before expanding into a full operating system. But then, multiple ocean changes in the market accelerated their plans:
One of his leading providers announced that they will be sundown in 2027, with over 1,000 hospitals urgently needing the need to replace the system. Regulators in Germany and elsewhere responded to issues revealed by Covid-19, with both fines being digitalized and funding for modernization. (For example, future laws for German hospitals will dedicate 4.3 billion euros to this.) Demand for AI is exploding, highlighting the difficulty of accessing data and integration with legacy hospital systems. . This is an issue that Avelios has been designed to solve.
In other words, Averios is the right team and has the right product at the right time. As a result, they have already won some of Germany's largest public and private hospitals.
When we met the team, we were deeply impressed by their ambitions, the depth and breadth of their products, the customers they won, and the growth in their revenue. And, more importantly, they accomplished all this with just seed funds (!).
Fortunately for us, Christian, Nicholas and Sebastian agree to the partnership and lead this series as they and their rapidly growing team work towards the goal of revolutionizing healthcare. I'm proud to be.
In the future with Avelios, doctors and staff have the necessary system of records and AI tools to make better, more informed decisions. They could concentrate on why they took the medicine in the first place. And their patients get not only a seamless experience, but also the best possible care.
