Abridge Secures $30M in Series B Funding to Revolutionize Medical Documentation with AI

UNITED STATES: Abridge, a pioneer in the development of artificial intelligence (AI) solutions for medical documentation, has successfully secured $30 million in a Series B funding round, aimed at accelerating the widespread adoption of its cutting-edge technology.

The funding round was spearheaded by Spark Capital and saw participation from existing investor Bessemer Venture Partners, as well as several prominent institutions, including CVS Health Ventures, University of California (UC) Investments, the American College of Cardiology, Kaiser Permanente Ventures, Lifepoint Health, Mayo Clinic, and SCAN Group.

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Abridge’s AI software is a game-changer in the healthcare industry, as it boasts the ability to transmute patient-clinician conversations into structured clinical notes in real time.

This innovative solution offers a tremendous advantage, saving healthcare professionals over two hours each day that would otherwise be consumed by administrative tasks.

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Recent deployments of Abridge’s AI software have demonstrated its efficacy, generating over 91% of clinical notes across a spectrum of more than 40 medical specialities with minimal clinician input.

Spark Capital’s general partner, Will Reed, expressed their pride in leading this industry-defining investment, citing Abridge’s remarkable AI talent and its commitment to developing solutions that align with clinical workflows. The overwhelmingly positive feedback from customers further solidified the decision to back Abridge.

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Abridge’s recent collaboration with Epic, a healthcare software company, has allowed the seamless integration of its AI solution into Epic’s clinical workflows.

This partnership has facilitated deployments in various healthcare systems, including The University of Kansas Health System, UPMC, and Emory Healthcare, among others.

The impressive part is that the full deployment of Abridge’s solution can be achieved within a mere two-week timeframe.

UCI Health’s Chief Innovation Officer, Scott Joslyn, stressed the importance of enhancing operational efficiency and simplifying documentation for physicians and caregivers.

The investment in Abridge aligns with these objectives, further addressing the pressing issue of clinician burnout and lightening the burden on healthcare professionals.

Abridge’s mission to revolutionize medical documentation with AI is set to transform the healthcare landscape, offering benefits not only to clinicians but also to patients and the healthcare industry as a whole.

Also Read: IBM Unveils WatsonX Code Assistant: Revolutionizing Code Writing with AI-Powered Prompts

Originally posted 2023-10-28 06:24:22.