Suki, a medical artificial intelligence company, announced that it has received a new round of financing of US$70 million, which will be mainly used for the research and development and improvement of its artificial intelligence-driven voice assistant products. Suki’s AI voice assistant is designed to help clinicians streamline their workflow, improve efficiency, and reduce paperwork burden, thereby improving the quality of medical services. The editor of Downcodes will explain in detail the impact of this financing on Suki and the entire medical AI industry.
Medical artificial intelligence company Suki announced that it has successfully raised $70 million in new funding. The funding will be used for the development of its products, including an artificial intelligence (AI)-powered voice assistant for use by clinicians.
Picture source note: The picture is generated by AI, and the picture authorization service provider Midjourney
"The healthcare industry has a growing demand for AI, and we are proud to offer a full-featured solution that seamlessly interoperates with existing tools," Suki founder and CEO Punit Soni said in a statement. "Investors With the support of Suki, we will accelerate growth, diversify Suki's capabilities and deepen relationships with strategic partners such as MedStar Health, one of the most important partners in Suki's history."
As previously reported, Suki raised $20 million in 2018 for its assistant designed to replace the transcription of notes and orders and retrieve patient data.
In addition to Suki Assistant, the company also offers the Suki Platform, which is described as a set of developer tools for technology companies wanting to add AI to their solutions. The company said more than a dozen major health systems and hospitals have deployed or expanded their use of its technology in the past two months.
The funding comes as AI is making progress in the clinical field with advanced note-taking systems. As PYMNTS wrote in August, these tools use natural language processing and speech recognition to transcribe and analyze patient-clinician interactions.
Brad Boyd, national medical industry co-leader for BDO USA, told PYMNTS: “By automating clinical workflow activities, including clinical documentation, coding, prior authorizations and medication reconciliation, providers can focus more time on patients and less on patients. Distraction between patients and paperwork.”
This shift is critical to combating healthcare workforce shortages, particularly in primary care.
"Primary care relationships have been eroding over the past few years, with patients turning to retail health and urgent care providers in need of timely care," Boyd said.
Dr. Innocent Clement, CEO and founder of Ciba Health, highlighted the additional benefits.
“AI-driven clinical note generation can enhance physician-patient interactions, improve accuracy, and empower patients to become more active participants in their health care through transparent access to their medical information,” Dr. Clement told PYMNTS.
Highlight:
? Suki completed US$70 million in new financing for AI medical platform product development.
?️ AI voice assistant aims to simplify clinicians’ workflow and improve efficiency.
The investment comes at a critical time for AI to make progress in the clinical field.
The huge financing received by Suki this time marks that the medical AI field continues to be favored by the capital market, and also heralds the accelerated development of AI technology in the medical industry. It is believed that in the near future, AI will better assist doctors and improve patients’ medical experience.