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


Related stories
1 day ago - Despite the seeming dominance of OpenAI and Microsoft in generative artificial intelligence, it’s becoming clear that the other cloud providers, not to mention AI startups, will make this anything but a winner-take-all business. Amazon...
3 weeks ago - On today's episode of Morning Brief, hosts Brad Smith and Madison Mills analyze the market open and break down the biggest stories of the trading week. The major indexes (^DJI, ^IXIC, ^GSPC) opened mixed in Friday's session, with the Dow...
3 days ago - Since the launch of OpenAI's famous chatbot ChatGPT, artificial intelligence (AI) seems to have taken the world by storm. AI technologies are being...
2 weeks ago - Amazon is folding its Amazon Clinic telehealth service into its primary care business One Medical, the company announced on Thursday. The company Amazon has decided to fold its Amazon Clinic telehealth service into its One Medical...
2 weeks ago - Google LLC is continuing its steady development of enterprise-ready artificial intelligence models with an announcement today that it’s bringing out its low-latency model Gemini 1.5 Flash in public preview and Gemini 1.5 Pro’s 2...
Other stories
3 minutes ago - The growing spending on memory chips could give this chip stock a nice boost following its upcoming earnings report.
3 minutes ago - Healthcare stocks may not be the most exciting investments for some, but overlooking these businesses could mean you pass up great companies. These...
3 minutes ago - Find out which crypto-related stocks are thriving in the post-halving market of 2024 and why. The answer may set you up for market-beating returns in the long run.
3 minutes ago - They don't have the most exciting businesses, but they have a lot to offer nonetheless.
4 minutes ago - Income investors don't have to settle for dividends that tread water. There are plenty of stocks to buy that offer growing dividends and are poised...