AI-powered medical documentation startup Abridge has raised $12.5 million . The $12.5 million round was led by Witington Ventures. Tura included Union Square Ventures, Bessemer Venture Partners, Whistler Capital, Pillar Venture Capital and UPMC Enterprises. The total investment amount of the US-based company has reached 27 million dollars .
Founded by James Young and Raymond Feng, the company records conversations between healthcare institutions and patients. He copies these conversations through the artificial intelligence he has developed. Organizes and summarizes information about the patient’s health status, symptoms, and treatment method. Founded in 2019, the company sends notes to patients’ EHR, that is, hospital information systems. It also integrates with remote health platforms. It helps them learn more about their diagnosis and medications, and monitor the patient’s medical course of their illness.
Today, with the developments in personal health data, processing activities, computer and internet technologies and mobile technologies, it has become much easier than in the past. Especially in the USA, the investments made in companies that bring innovation to the health system, which does not work very well due to the Covid-19 epidemic, are increasing day by day.
In 2020, Google Cloud released two AI-powered tools for analyzing medical records, the Healthcare Natural Language API and AutoML Entity Extraction for Healthcare. Investments in this area draw attention. In December last year, Suki, operating in the same field, received an investment of 55 million dollars .
Microsoft bought voice recognition technology company Nuance Communications for $20 billion in April 2021 . The company provides medical documentation services with its platform called Dragon Medical One.