Osso VR, a validated virtual reality (VR) surgical training and assessment platform, today announces it has secured $27M in Series B funding, led by GSR Ventures, with participation from Signalfire, Kaiser Permanente Ventures, OCA Ventures, Scrum Ventures, Leslie Ventures and Anorak Ventures.
Osso VR’s surgical training technology provides on-demand, educational experiences that are effective, repeatable and measurable to help surgeons reach proficiency with emerging surgical techniques and technologies. Osso VR experienced rapid growth during 2020 to meet the increased demand in virtual training driven by the pandemic-fueled need for digital training models. Osso VR works with industry leaders like Johnson & Johnson, Stryker, and Smith & Nephew to ensure that patients have safe access to the highest-value procedures. As part of the recent growth, the company recently expanded into additional specialties, including orthopedics, endoscopy, interventional procedures and more. Osso VR is home to the world’s largest surgical training library, offering 120+ modules in 10+ specialties.
“Osso VR is positioned to transform how surgeons are trained on new devices and surgical procedures,” said Dr. Sunny Kumar, a partner at GSR Ventures. “The Osso platform’s level of immersion provides an experience that mirrors the operating room in a manner more efficient, more accessible, and more effective than any surgical training platform that’s come before.”
Osso VR‘s platform boasts an exceptional level of visual fidelity, ensuring every aspect of surgery, from anatomical detail to the OR environment, enhances the training experience. Osso VR employs the world’s largest medical illustration team and alums from Industrial Light & Magic, Electronic Arts, Microsoft, and Apple. This lightning-in-a-bottle of a team is able to create cinema-quality educational experiences at scale, inspiring providers all around the world.
With nearly 30,000 training sessions completed on the platform, providing an average of 22,000 minutes of training a month, Osso VR’s platform is proven to significantly impact surgical performance. In two recent level 1 randomized peer-reviewed studies, surgeons training with Osso VR showed anywhere from a 230 percent to 306 percent improvement in overall surgical performance compared to traditional training. In addition, Osso VR enables healthcare professionals to train together in Osso from anywhere in the world through Remote Collaboration.
Recent platform milestones include:
Osso VR is widely deployed across 20+ countries
All five of the Top 5 orthopedic medical device companies choose Osso VR as their VR training partner
The platform is available in multiple languages including English, Japanese, Spanish, German and French
20+ global hospital residency programs, including Brown University, Hospital for Special Surgery, Johns Hopkins University, and Rush University, train on Osso VR
“Osso VR has been on an incredible journey. We have built a once-in-a-lifetime team, bringing together experts from healthcare, technology, movies and gaming to pursue our mission: improve patient outcomes, accelerate the adoption of more-effective surgical technologies and democratize access to education. After proving the clinical effectiveness of the platform and its unique ability to scale up to the millions of providers around the world, we are ready to accelerate,” said Justin Barad, MD, CEO and Co-Founder of Osso VR. “With this latest round, we plan to exponentially expand our library and platform so that every patient in the world can have the peace of mind knowing they are getting access to the safest, highest-value procedures.”
Most likely, in one of the few lucid moments you have in your hectic, even chaotic schedule you contemplate healthcare’s greatest problems, its most pressing questions that must be solved, obstacles and the most important hurdles that must be overcome, and how doing so would alleviate many of your woes. That’s likely an overstatement. The problems are many, some of the obstacles overwhelming.
There are opportunities, of course. But opportunities often come from problems that must be solved. And, as the saying goes, for everyone you ask, you’re likely to receive a different answer to what needs to be first addressed. So, in this series (see part 1 and part 2), we examine some of healthcare’s most pressing challenges, according to some of the sector’s most knowledgeable voices.
Without further delay, the following are some of the problems in need of solutions. Or, in other words, some of healthcare’s greatest opportunities. What is healthcare’s most pressing question, problem, hurdle, obstacle, thing to overcome? And how that can be solved/addressed?
The biggest hurdle in healthcare is the adoption and ethical use of AI, and the ability to share data gathered from it in a safe and secure way to gain actionable insights. More specifically, the world is moving towards consumer genomics. This type of technology will help patients and their caregivers better understand their health and allow for more personalized care plans—this is our role in the future of precision medicine.
Randy Tomlin, CEO and chairman of the board, MobileSmith
A pressing question for many healthcare execs is “how can I gain loyalty from the next generation of patients? With the estimated lifetime value of a new patient at $600,000, and Millennials and Generation Z making up one-half of the U.S. population, the stakes are high. Healthcare lags behind other industries in adopting a mobile-first strategy, but some health systems are branding their own mobile apps because they know that it speaks to the engaged-consumer mindset of these populations. In many cases, mobile app technology has proven to increase patient engagement, education and loyalty, while improving a hospital’s bottom line.
During my surgical training, I experienced firsthand the greatest challenge facing our healthcare system today: how we train and assess our providers. Data shows that our century-old apprenticeship based system of surgical training is struggling under a growing number of procedures and decreased hands-on time with patients. At the end of at least 14 years of education and accumulating six figures of debt, 30 percent of residency graduates still cannot operate independently. Even surgeons in practice are finding immense challenges learning new procedures and bringing them to patients. This is limiting the adoption of higher value modern technologies and limiting patient access to these lifesaving procedures. Virtual reality is opening the door for increased access and skill development in a highly precise and like-life environment. Residency programs and medical device companies are adopting virtual reality to have a much more natural learning experience with a much higher retention rate than conventional observational methods such as a book or video. We have harnessed immersive technologies to improve patient outcomes, increase the adoption of higher value medical technologies and democratize access to surgical education around the world.