However, with the emergence of digital health companies over the past decade that has pushed care into the home and virtual settings, we’ve seen this model of healthcare get disrupted time and again. As patient population growth has not been a meaningful lever for overall growth for hospitals, maintaining comprehensive coverage of nearly all health conditions has been critical. Hospitals, which are regionally constrained by design, have long been required to invest in physician capacity and technology to treat conditions for both chronic and acute patients. While the traditional brick-and-mortar facility-based model of healthcare has served our communities well since the dawn of institutional health systems, the shift of care beyond the “four walls of the hospital” has accelerated in recent years, resulting in increased adoption of digitally-enabled care delivery services. Aggregate investments in US-based digital health companies nearly doubled from a previous all-time-high of ~$15B in 2020 to ~$29B and despite the cooling macroeconomic environment in 2022, digital health funding through H1 2022 tracked to well above normalized 2020 levels with ~$10B poured into the sector in the first half of the year. “Abridge is the solution I always wanted myself, as a physician and as a patient - an AI-based service that leverages conversations I had with my patients to not only draft my documentation but also with the capability to send detailed care plans to them and improve the quality of their care.Rise of the Digital Health Enablement Stack: How Technology is Accelerating Innovation for Modern Care Deliveryīy all measures, 2021 was a record year for digital health fundraising. “I became a cardiologist to help my patients improve their health, but the reality was that I was spending more time on my notes than with my patients,” said Dr.
Evidence-based notes: All insights are automatically mapped back to the parts of the conversation where they happened, improving coding compliance for billing as well as value-based initiatives. Structured insights: Algorithms extract medical information and map back to ontologies and codes, making it easy to get immediate, actionable insights at the encounter and population level.ģ. Automated, real-time documentation: Abridge algorithms generate the clinical documentation from the conversation, accurately and within a minute of the conversation.Ģ. For healthcare enterprises looking to reduce burnout, improve efficiencies, and enhance care delivery, Abridge offers:ġ.
While current solutions on the market are anchored on expensive human scribes or wake-words that force providers to speak unnaturally, Abridge works with natural conversations and existing health technology infrastructure. Armed with a proprietary dataset derived from more than 1.5 million medical encounters and more peer-reviewed papers about medical conversation AI than any other entity, Abridge has already helped more than 2,000 clinicians practice at the top of their licenses and 200,000 patients stay on top of their health. Abridge aims to change that through its innovative tech-first service that automatically generates structured notes from any type of conversation - from in-person visits to telehealth and chat conversations.Ībridge’s enterprise-focused documentation solutions seamlessly structure and summarize information from any medical conversation, making it easier for systems to reduce provider burnout while also increasing patient satisfaction. National studies suggest that more than 50 percent of providers experience burnout-related symptoms, and systems are anticipating healthcare staffing shortages that will cost $4.6 billion annually. Provider burnout continues to be a serious issue for healthcare systems, especially in the aftermath of the pandemic. – The round also had participation from all existing investors including Union Square Ventures, Bessemer Venture Partners, Pillar Venture Capital, and UPMC Enterprises, and new investors including Turing Award winner Yoshua Bengio, and Whistler Capital.Īutomated Solutions to Combat Physician Burnout
#ABRIDGE HEALTH SERIES#
– Abridge, the leader in medical conversation artificial intelligence (AI), today announced an oversubscribed $12.5M Series A-1 led by Wittington Ventures.
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