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Healthcare AI platform Regard raises $61M to advance AI-powered clinical insights

Regard, an artificial intelligence-powered platform that provides insights from patient data to physicians, said today it raised $61 million in new funding to advance product development to support hospitals and healthcare workers.

The Oak HC/FT led the Series B funding round. Cedars-Sinai Health Ventures, as well as existing investors TenOneTen Ventures, Calibrate Ventures and Techstars also participated.

The company, formerly known as HealthTensor, previously raised $5 million in seed funding upon its launch in 2021 and raised a further $15.3 million during its Series A a year later.

Regard’s platform seeks to deal with the massive influx of healthcare data and recognizes the difficulty of tapping into the information for clinical use. According to the World Economic Forum, less than 3% of available patient data is used by doctors, and a single patient can average 50,000 data points. This amount of data alone is staggering and means that a large amount of information about patient health could be missed awash a sea of potential material.

The company provides a clinical support tool that uses large language models to examine patient history and create recommendations, documentation and insights about health trends and illnesses. It can also facilitate communication between physicians managing complex cases. For patients who require multiple specialists, the AI can ensure vital information and health insights aren’t lost in the handoff process, improving care coordination.

“Regard is augmenting patient care by analyzing overwhelming mountains of clinical data and providing clinicians with potential diagnoses and treatment recommendations, impacting the quality and safety of care in real-time,said Chief Executive Eli Ben-Joseph.That’s a game-changer — not just for doctors, but for the people whose lives are in their hands.”

Last year, the company announced a partnership with OpenAI to develop and launch a new core product called Max, an AI co-pilot and chatbot for physicians. The chatbot will be built atop OpenAI’s GPT-4 large language model to help doctors and healthcare workers save time while researching documentation by emulating the role of a medical resident.

“LLMs have incredible potential to help reduce physician workload by assisting with note writing,” Dr. Tracy Bercu, chief of medicine at Torrance Memorial Medical Center, said about the use of the technology.Regard is uniquely positioned to utilize this technology as they already have a robust product that generates notes which only require physician verification of which items to be included, thus reducing effort.”

According to the company, Regard’s AI technology has helped uncover more than 3 million diagnoses for care teams and generated more than $50 million in incremental revenue for enterprise health systems. Regard partners with hospital and healthcare networks such as Phoenix, Arizona-based Banner Health and Sentara Health.

Photo: Pixabay

Source: siliconangle.com

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