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☆ Healthcare Startup Valuations Are Coming Back to Earth — Except in AI
▼ + stars: | 2024-04-15 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

The frenzy has investors across industries rushing to get into AI deals, including in healthcare. AdvertisementStill, healthcare startups using AI have already raised hundreds of millions of dollars this year, especially to automate tedious administrative tasks for providers and health plans. Andrew Arruda, CEO of Flexpa FlexpaThe AI long-haulNot every startup needs to be an AI startup. AdvertisementPlus, healthcare companies that do want to use AI face higher stakes than other industries, contending with numerous privacy, regulatory, and safety issues, Kong noted. For example — if healthcare AI makes a mistake, could patient health be impacted?

Persons: —, Scott Barclay, Nina Achadijan, Shiv Rao Abridge, VCs, nabbed, CodaMetrix, Aike Ho, Christina Farr, Andrew Arruda, that'll, Flexpa, he's, Flexpa's, Kong, Todd Cozzens, it's Organizations: Service, Business, Insight Partners, ACME Capital, nab, Catalyst, HealthQuest, Transformation Locations: Tech, Kong

☆ Doctors are turning medical generative AI into a booming business
▼ + stars: | 2024-03-16 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

"There isn't a better place to be," Kenneth Harper, general manager of DAX Copilot at Microsoft, told CNBC in an interview. At HIMSS, Stanford Health Care announced it is deploying DAX Copilot across its entire enterprise. Gary Fritz, chief of applications at Stanford Health Care, said the organization had initially started by testing the tool within its exam rooms. Dr. Christopher Sharp, chief medical information officer at Stanford Health Care and one of the physicians who tested DAX Copilot, said it is "remarkably seamless" to use. Fritz said it is still early in the product life cycle, and Stanford Health Care is still working out exactly what deployment will look like.

Persons: Suki, Shiv Rao, Athenahealth, Kenneth Harper, DAX Copilot, DAX, Harper, Gary Fritz, Fritz, Dr, Christopher Sharp, Sharp Organizations: Companies, CNBC, HIMSS, Microsoft, Stanford Health Care, Stanford Locations: Orlando , Florida, HIMSS

☆ Healthcare deals are picking up as VCs finally reopen their wallets. Here's what they are betting on.
▼ + stars: | 2024-03-14 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Investors aren't anticipating healthcare funding to surge to anything resembling 2021 levels this year, and fewer deals could mean shutdowns for many companies running low on cash. Multiple healthcare startups have announced raises this year at Series B and beyond. Investors said there's now a higher bar for which startups get venture funding compared to 2021, however. Exits and shutdowns aheadWhile a number of biotech startups have jumped into the public markets already this year, the IPO window for healthcare startups has remained firmly shut. Still, many investors are optimistic that a few healthcare startups will test the waters later this year.

Persons: Anargha Vardhana, There's, they're, Christina Farr, haven't, Richard Drury, Scott Barclay, Shiv Rao, Vardhana, there's, Farr, Sara Choi, Ritankar Das, Supriya Jain, Jain, Barclay Organizations: Business, Insight Partners, Investors, Entrepreneurs, Wing Venture Capital, Boston Consulting Locations: orthopedics

☆ VCs are clamoring to back 'screaming hot' startups using AI for medical records
▼ + stars: | 2024-02-21 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Another AI medical records startup, DeepScribe, raised a $30 million Series A round in January 2022. AbridgeThe investor descent on medical-scribe startups reflects a blatant potential of automation tech to alleviate healthcare’s most critical issues. “This market is screaming hot,” said Bryan Roberts, a partner at Venrock and an investor in medical-scribe startup Suki. AdvertisementStill, as health systems increasingly adopt AI solutions to manage labor costs, these startups have room to grow into their valuations. Medical-scribe startups vying for the remaining slice of the pie are “in a pitch to the death,” Roberts said.

Persons: —, ’, Kleiner Perkins, Andreessen Horowitz, Suki, Punit Soni, Shiv Rao, ”, Bryan Roberts, ” Roberts, Annie Case, Case, Hermann, Keith Srakocic, Roberts, there’s, “ Organizations: Service, Business, Healthcare, Fund, Optum Ventures, Medical, Cathay Innovation, Microsoft, University of Pittsburgh Medical Center, University of Kansas Health, AP

☆ Healthcare startups are rushing to sell AI to hospital systems. But a new survey suggests many simply aren't ready for it.
▼ + stars: | 2024-02-20 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

As healthcare startups dive headfirst into building artificial intelligence products to sell to hospitals, a new report suggests many health systems don't yet have policies to support the tech. In a survey of 34 US health systems leaders, only 16% reported having systemwide policies for AI usage and data access. Some health system leaders said they haven't developed policies because the industry is in the early stages of AI adoption. Many health system leaders surveyed by KLAS expressed excitement about AI software for clinical documentation. Seventy percent of health system leaders surveyed by KLAS said their organizations planned to adopt AI software integrated with their EHRs.

Persons: —, hasn't, Robert Califf, KLAS, we'll, Bryan Roberts Organizations: Business, Center, Medicine, UPMC, KLAS Research, Healthcare, Food and Drug Administration, FDA, Venture, University of Pittsburgh Medical Center, University of Kansas Health, Microsoft, Industry

☆ Putin's big week means more uncertainty for the markets during a critical time
▼ + stars: | 2024-02-13 | by ( Milly Struthers | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today’s big story, we’re looking at why the recent resurgence of Vladimir Putin and Russia comes at an inopportune time for the markets. The big storyPutin's big weekRebecca Zisser/Business InsiderVladimir Putin hasn't notched many personal wins since Russia's invasion of Ukraine, but last week was an exception. Putin’s successes further complicate a geopolitical situation that has silently loomed over a US economy trying to tiptoe past a recession.

Persons: —, florists, Vladimir Putin, Rebecca Zisser, Vladimir Putin hasn't, Tucker Carlson, he’s, Tom Porter, Carlson, Putin, Joe, Donald Trump, BI’s Brent D, Griffiths, Tom, GAVRIIL, Jamie Dimon, Ray Dalio, Jerome Powell, It’s, David Rosenberg, doesn’t, Alex Wong, Stocks, Savita Subramanian, Grammarly, Abanti Chowdhury, Zers, Temu, Sam Altman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, NATO, Sputnik, Kremlin, JPMorgan, Bridgewater Associates, Reserve, Federal Reserve, Bank of America, Labor Statistics, Tech, Chiefs, 49ers, World, Ferrari, Business Locations: Russia, Ukraine, Russian, Moscow, China, Israel, Gaza, Washington ,, New York, London

AbridgeAbridge CEO Dr. Shiv Rao. AbridgeHQ: PittsburghTotal raised: $62.5 millionWhat it does: The medical scribe startup uses large language models to document patient-doctor interactions in electronic medical records. What makes it promising: Easing administrative burdens for providers is top of mind for investors as growing burnout drives more clinicians out of the healthcare field. Abridge is using AI to tackle one of the most time-consuming, burnout-inducing processes in healthcare — clinical documentation.

Persons: Abridge, Shiv Rao Organizations: Abridge, Pittsburgh

☆ Here's why a top VC says healthcare investors should make growth-stage bets right now — and where he's looking for those deals
▼ + stars: | 2024-01-18 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

As a multi-stage VC fund, Lightspeed has an advantage in its exposure to both early-stage and later-stage healthcare markets, Imanbayev said. And many later-stage healthcare startups still have plenty of room to grow, he said. The first one to three years are often slow-moving for a healthcare startup, too, as it works to get its first partnerships with payers or providers, he said. But they also tend to be less risky, since later-stage startups should have revenue streams or partnerships that demonstrate their value. Lightspeed led value-based care startup Aledade's $260 million Series F in June 2023, an unusually large deal as other investors cut much smaller checks.

Persons: —, Galym, Imanbayev, I'm, There's, Farzad Mostashari, Aledade Tom Sandner, VCs, Abridge, he's, Chris Severn Organizations: Business, Lightspeed Venture Partners, Lightspeed, CVS, Health, Turquoise Health, Pharma, FDA, pharma

☆ Netanyahu signals impatience with protests as Israel's judicial reform edges ahead
▼ + stars: | 2023-07-09 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

[1/9] An aerial view shows protesters taking part in a demonstration against Israeli Prime Minister Benjamin Netanyahu and his nationalist coalition government's judicial overhaul, in Tel Aviv, Israel July 8, 2023. REUTERS/Oren AlonJERUSALEM, July 9 (Reuters) - Israeli Prime Minister Benjamin Netanyahu signalled impatience on Sunday with disruptions caused by resurgent demonstrations against his judicial overhaul plans, summoning his attorney-general for a cabinet discussion of police counter-measures. The opposition casts the bill as a step toward curbing judicial independence that would eventually subordinate the Supreme Court to politicians. Street protests that had subsided are flaring anew, with protesters planning to converge on Israel's main airport on Monday. Cabinet minister Itamar Ben-Gvir said he would boycott Big unless it retracted what he deemed political "bullying" by a business.

Persons: Benjamin Netanyahu, Oren Alon JERUSALEM, Netanyahu, Gali, Itamar Ben, Gvir, Ami Eshed, Steven Scheer, Dan Williams, Maayan Organizations: Israeli, REUTERS, Ben Gurion, Attorney, Shopping, Tel, Thomson Locations: Tel Aviv, Israel, overreach, Israel's, Gali Baharav

☆ Why the 14th Amendment Is Being Cited in the Debt Ceiling Debate
▼ + stars: | 2023-05-02 | by ( Linda Qiu | ) www.nytimes.com time to read: +1 min

Some have argued that the clause, outlined in Section 3 of the 14th Amendment, bars anyone who has “engaged in insurrection or rebellion” from holding public office. Now, the standoff over the national debt has renewed debate over Section 4 of the amendment, known as the public debt clause. After the Civil War and the assassination of President Abraham Lincoln, lawmakers sought to set out the terms of the Confederacy’s surrender and the rebellious states’ re-entry into the Union. The 13th Amendment’s formal abolition of slavery also meant that the size of delegations from former Confederate states would increase, even as the states passed discriminatory “Black codes” and prevented former slaves from voting. Reconstructionist Republicans in Congress sought to address these issues by passing the Civil Rights Act of 1866, which guaranteed citizenship and equal protection for former slaves.

☆ How 4 US health systems are using AI to tackle big challenges like managing patient emails and documenting visits
▼ + stars: | 2023-04-20 | by ( ) www.businessinsider.com time to read: +7 min

Leaders at four health systems shared how they use AI to manage emails or help doctors take notes. Some health systems also have experimented with using AI to help diagnose disease. But health systems are generally cautious about deploying the technology in clinical care, where the stakes are higher. Here's how four healthcare systems are using AI to tackle some of their biggest challenges. Sutter Health is using AI to manage patients' messagesDr. Albert Chan, the chief digital health officer at Sutter Health.

☆ Generative AI Makes Headway in Healthcare
▼ + stars: | 2023-03-22 | by ( Belle Lin | ) www.wsj.com time to read: 1 min

The University of Pittsburgh Medical Center plans to roll out a generative artificial intelligence-based tool from Abridge AI that helps doctors cut down on the amount of time they spend on notes. Startups offering the same kind of artificial intelligence behind the viral chatbot ChatGPT are making inroads into hospitals and drug companies even as questions remain over the technology’s accuracy. Healthcare startups such as Pittsburgh-based Abridge AI Inc., whose product helps doctors write notes after seeing their patients, and San Francisco-based Syntegra Inc., which uses generative AI to create realistic copies of patient data for research, say they have applied generative artificial intelligence for the safest and most accurate current uses in healthcare.

Funding raised: $27 millionNumber of employees: 20Why it's set to take off next year: Provider burnout is getting worse, and it's exacerbating healthcare's staffing crisis. Nof said he expected Abridge's technology to be in demand next year as hospitals worked to reduce the administrative burdens on doctors. "They've reached a tipping point where people are desperate to gain efficiencies in their workday with all the physician burnout," he said. Abridge's technology takes the audio from doctor-patient interactions and automatically turns it into documentation for billing purposes or a summary of the visit for the patient. That means doctors are relieved of the "hours of pajama time in the evening that they previously spent doing clinical documentation," Cheatham said.

These so-called Twitter Files were proof of “free speech suppression,” the billionaire claimed. But for supporters, the details are less important than the narrative: another battle in Musk’s grand war to protect and enable “free speech” — seemingly everywhere and anywhere. Before Musk, Twitter wisely began labeling and then removing tweets that disseminated false information about the pandemic. But it feels like Musk’s actions as head of Twitter are incorrectly being blended with his statements on free speech. Musk’s self-proclaimed defenses of free speech sound good — most Americans remain, rightly, committed to this fundamental tenet of constitutional freedom.

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