Notable financial achievement makes the AI-powered hospital operations leader one of the largest, fastest growing healthcare AI companies
SANTA CLARA, CA – August 14, 2024 – LeanTaaS, Inc., the market leader in providing AI-powered and cloud-based capacity management, staffing, and patient flow software and services for health systems, today announced it’s approaching $150 million in annual contract value (ACV), while maintaining a consistent 30%+ annual growth rate over the past three years. By achieving this significant financial milestone, LeanTaaS continues to demonstrate its commitment to sustainable and long-term growth while positioning itself as the leading partner for capacity optimization.
Nearly 200 health systems across more than 1,200 hospitals and centers rely on LeanTaaS for AI-powered capacity optimization, with ~60% of customers on Epic’s EHR and ~30% on Oracle Cerner’s EHR. The company has achieved significant scale across all three of its products:
- iQueue for Operating Rooms, now serving 5,600+ operating rooms
- iQueue for Infusion Centers, now serving 14,500+ infusion chairs
- iQueue for Inpatient Flow, now serving 23,000+ inpatient beds
“Financial constraints, staffing shortages, and increased patient demand have made capacity optimization increasingly critical for hospitals and health systems,” said Mohan Giridharadas, Founder and CEO of LeanTaaS, during a conversation at the New York Stock Exchange (NYSE). “AI-enabled operations software is no longer a luxury, but a requirement to do more with less. We’ve been focused on this problem for over a decade, powered by our amazing team that continues to propel us to new heights. Nearing the $150 million ACV mark is validation of the increasing demand for our solutions and services, and the strength of our customer partnerships.”
As an AI-first company since its inception in 2010, this milestone demonstrates the need for technology-driven capacity management solutions that deliver ROI, reduce manual burdens, and optimize existing assets, especially with increasingly limited healthcare staff and resources. Many of the largest and most innovative health systems in the country rely on LeanTaaS to optimize capacity, resources, and staff, including new partners like Providence. Nearly 70% of the top 22 hospitals in the 2023-2024 U.S. News and World Report Honor Roll use one or more iQueue solutions to power their operations. Earlier this year, KLAS Research recognized LeanTaaS as the only fully rated and top solution provider in Capacity Optimization, with 100% customer satisfaction.
Leveraging LeanTaaS’ unique combination of AI-powered insights and transformation services, LeanTaaS helps hospitals improve EBITDA by up to 5% by improving overall asset utilization, and KPI improvement including:
- 30-50 more cases per OR per year, 7% staffed room utilization increase, and a 5% block utilization increase in operating rooms
- 30% lower patient wait times, 50% less staff overtime, and 15% patient volume growth in infusion centers
- 3% increase in patient admissions, 10% more discharges per day, and 40% reduction in core staff floating in inpatient areas, coupled with a 10%+ length of stay reduction and 40% reduction in ED board time
Recently, the company launched iQueue Autopilot, a first-of-its-kind, generative AI solution for hospital operations, which will be made available to customers by the end of the year. It provides health system leaders and staff with always-on, expert support to guide decision-making for patient flow, scheduling, command center, block management, staffing, and other capacity management use cases.
About LeanTaaS
LeanTaaS transforms hospital and infusion center operations through software and services that combine lean principles, predictive and prescriptive analytics, and machine learning. The company’s software and services are being used by 190+ health systems in 1,200+ hospitals and centers across the nation, which rely on the iQueue cloud-based solutions to increase patient access, decrease wait times, reduce healthcare delivery costs, and improve revenue. LeanTaaS is headquartered in Santa Clara, CA with an office in Charlotte, NC. For more information about LeanTaaS, please visithttps://leantaas.com/, and connect onLinkedIn and X.
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Kate Soden