We live in a world that is more dependent on the Internet and AI than ever before and healthcare systems can’t avoid the trend. As early as 2012, 60 percent of US patients have researched their doctors online. It is only natural that doctors take advantage of all the features technology has to offer.
Using AI in healthcare continues to be something new, but the related industry is growing. Whether it is apps, smart devices, data platforms, or tools to interpret results, innovative healthcare startups are spearheading the digital transformation of healthcare by leveraging AI to directly benefit patients and medical staff.
In some cases, as with Notable, the wearable doctor’s assistant, devices can simultaneously benefit both staff and patient in different ways.
Notable, which closed a $13.5 million Series A financing round, offers a solution that helps both doctors and patients. By using an app that is incorporated into the Apple smart watch, doctors can simultaneously take notes while talking to their patients, without any effort or inconvenience to either party. This results in better time management for doctors, who can see more patients and spend more time practicing medicine than performing administrative tasks.
Doctors seem to really like the product, which is good news for both Notable, and their investors.
“Notable frees me to spend more quality time with my patients at work, and more quality time with my family when I get home.” Dr. Chris Dolan, orthopedist says. Family is important to us all, and, in fact, it is precisely family, Notable CEO Pranay Kapadia’s family, to be exact, which prompted him to build the company.
“We started Notable after my family of physicians complained about how their work had become focused on billing and risk mitigation, and less about the patient or data needed to improve outcomes,” Kapadia said. “We started Notable to leverage powerful technologies such as AI, wearables and voice interface to address these challenges and to give physicians what they really want — a seamless, truly hands-free solution, not another screen to learn or computer application.”
Simply put, an aging population, increased prevalence of disease, and rising costs of care is fueling the need to reinvent healthcare. Delivering quality care to patients presents a huge business opportunity for all players from healthcare startups to global tech companies. Investing in the digital transformation of healthcare has become a hot new trend, attracting major funds from investors in 2018. Consider these 10 US healthcare startups with over $200 million in funding.
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