Technology has always been the driving force behind healthcare advances. From the introduction of stethoscopes in 1815 to AI-based healthcare solutions, med embraces tech with arms wide open. Digital healthcare startups, it seems, are getting their fair share of hugs.
The explosion of medical technology over the last five years has quietly advanced healthcare in some miraculous ways.
In this article, we highlight 10 digital health startups that are making some miracles of their own.
Sopris Health
Sopris Health uses the power of AI and speech recognition to improve clinical documentation workflows. In the process, it is transforming how clinical documentation is managed.
Doctors spend on average 50% of their time creating or updating documentation. This is the time that could be spent attending to patients, performing valuable research, or even with their own families.
Using smart watches and other mobile devices, Sopris Health enables physicians to capture conversations with patients, or their own dictations, with ease. Through artificial intelligence, the platform converts those conversations into organized, searchable digital documents.
Physicians around the U.S. are seeing the following benefits from using the Sopris Health system:
- A significant reduction in time spent on clinical documentation
- Reduced operational expenses by eliminating the need for transcriptionists
- Improved record accuracy, since data is not entered manually
- Reduced incidences of lost data
- More free time that can be spent on more valuable tasks
Of course, the doctor remains in control. Conversations are captured only when the scribe software is promoted by the physician.
Sopris is a total disruption to the medical transcription industry. But it is more than speech-to-text software. It intelligently organizes captured conversations into well-structured digital documents doctors can review and use at their convenience.
The company launched in May of 2018.
Parsley Health
Parsley Health is an advanced primary care system that goes beyond treating health issues. By also providing coaching on nutrition, exercise, stress, and other lifestyle behaviors, Parsley Health aims to help patients avoid health issues.
The wellness-based service uses a digital health model to guide patients through the “functional health” process.
Using the Parsley platform is as easy as following the steps provided below:
- Creating a health bio
- Selecting a doctor and making an appointment online
- Meeting your doctor of choice
- Receiving advanced testing if necessary
- Receiving treatment
Following the patient’s initial exam, the Parsley team provides them with a personalized health plan. The mobile app allows the patient to track their progress along the way.
Patients can communicate with doctors at any time using the MyParsley Portal. A wide range of self-help medical data tools is also available.
Parsley currently operates clinics in Los Angeles, New York City and San Francisco.
In April of 2018, MyParsley announced it had secured $10 million in Series A funding, led by FirstMark Capital. Additional funds were provided by Amplo, Trail Mix Ventures, Combine, and The Chernin Group.
FundamentalVR
FundamentalVR offers virtual reality and mixed reality simulators for training surgeons in MIS/Laparoscopic, ophthalmology, ENT (ear, nose, and throat), and neurosurgery.
Using VR/AR viewers and hand controllers, surgeons and medical students not only get to see what it looks like to perform surgery, they get the feel of it, too.
The haptic feedback system provides the highly-realistic sensation of using various drills and other surgical instruments. The detail and granular control provided by the simulator is so realistic as to be nearly identical to an actual procedure.
A few benefits of training on the FundamentalVR simulator include:
- Providing a realistic surgical experience, without risk to a patient
- Reduced cost by reducing the need for medical cadavers
- Procedures can be repeated as many times as necessary
- The ability to use HoloLens holographic technology for 3D surgical modeling
- Customized simulation can be developed
FundamentalVR is the winner of the 2018 Auggie Awards for Most Impactful Breakthrough, making it one of the best digital health startups of the year.
Empiric Health
Empirichealth has launched a clinical analytics platform that uses AI to reduce cost and improve patient outcomes.
To be more specific, the Salt Lake City-based startup uses a proprietary analytics framework to identify variations in clinical and surgical procedures. By suggesting to clinical staff and surgeons ways to avoid deviation, processes known to be successful are followed more consistently.
Case studies prove the savings created by using the Empiric Health service:
- An average of $350 was saved across all surgical cases
- An average of $1,500 was saved per case in orthopedics
- An average of $600 was saved per case in urology
- An average of $470 was saved per case in pediatrics
- A total of $90+ million was saved across the board
The company’s platform allows medical professionals to make decisions based on historical data, rather than intuition or the “best guess” approach.
Empiric Health was founded in 2017.
RDMD
RDMD taps the power of AI to accelerate treatments for patients suffering from rare diseases.
Using deep data technology, unstructured data from medical records are searched and meaningful data is extracted. That data can then be used to produces meaningful insights into medical research and drug discovery.
A patient app allows the patient to also access the medical information accessed by RDMD.
Benefits to patients and medical providers include:
- Helping patients keep their records updated and accessible
- Helping patients to arrange a remote consultation with a specialist
- Allowing patients to share their medical information with family and new care providers
- Enabling physicians to generate real-world evidence to support treatment programs
- Helping healthcare providers to meet regulatory compliance reporting requirements
Even though only 1 in 10 persons suffer from a “rare” disease, RDMD is trying to make rare disease even rarer.
RDMD was founded in 2017.
98point6
98point6 was founded in 2015, but just received $50 million in their fourth funding round, led by Goldman Sachs’ Merchant Banking Division.
The Seattle startup uses AI to put primary care in the palm of the hand. The mobile app enables patients to connect with an on-staff doctor, report their symptoms, and quickly receive a diagnosis. If medications are needed, the doctor will send the prescription to the patient’s local pharmacy of choice.
The reason the Seattle startup has been successful raising funds is due in no small part to its unique offering. The 98point6 healthcare system uses deep learning to connect patients with the care they need.
Benefits of the platform include, but certainly, are not limited to:
- Expert primary care from licensed physicians
- No appointments and no copays
- Get primary care anywhere, without waiting to see a doctor
- Personal plans
- Employer-based plans
The company said it will use its new funds to hire additional staff and to expand its portfolio of products and services.
Deep Lens Inc.
Deep Lens Inc. announced in October of 2018 that it has emerged from stealth mode with $3.2 million from its seed funding round.
The digital pathology company has been around for years, but the healthcare startup is revamping its platform to include
- AI-powered image detection
- Telepathology services
- Collaboration between healthcare providers
- Clinical workflow support
- Cloud storage of digital pathology data
- APIs for easy hardware and software integration by vendors and biopharma companies
Deep Lens. Inc. has proven that AI and cloud technology can reinvent even a good startup.
Hero
Hero has emerged after four years of testing with $12 million in funding and a brand new product for the digital healthcare market.
The Hero digital medication dispenser is more than a pillbox with a timer. The easy-to-use, yet sophisticated, in-home medication dispenser does all this:
- Dispenses the right medication at the right time
- Automates the refill process, with medications being sent directly to the user’s home
- Provides audible and digital reminders to take medication
- Sends notifications to caregivers if medication is not taken properly
- Tracks adherence to medication schedule over time
The Hero promises to fill a niche need by making sure our loved ones take their medications when we can’t be there to make sure they do.
Pilleve
Pilleve is a North Carolina digital health startup that targets a very serious problem in America — opioid abuse and addiction.
With nearly 200 people dying every day from opioid overuse in the U.S., the healthcare market is good and ready for solutions.
The Pilleve concept is simple:
- A free trial gets the patient started without obligation
- The digital bottle arrives pre-filled with the patient’s opioid prescription
- When the patient is in pain, they request a pill using the Pilleve mobile app
- After verifying the patient, the medication is dispensed
- If patients request pills too frequently, the digital pill dispenser notifies the healthcare provider
The benefit of Pilleve is two-fold. First, patients get the pain medication they need when they need it. Second, and more importantly, addictive tendencies can be identified by the patient’s doctor who can then intervene.
Since early intervention is key to avoiding addiction, Pilleve can have a major impact on the opioid drug crises.
VitaScan
VitaScan brings an interesting product to the digital healthcare market — a DIY vitamin deficiency tester.
Even in the age of obesity, getting proper nutrition can be a challenge. Few of us eat the type of “balanced” diet required to ensure that we get all the vitamins we need.
VitaScan takes the guesswork out of our diets by providing on-the-spot testing for vitamin deficiency.
Here is how it works. The user supplies a small blood sample using a custom test strip. The strip is then inserted into the test unit, which sends test results to the user’s mobile phone in about 10 minutes.
Among the vitamins tested for are the following nutrients:
- A
- B12
- D
- Iron
If low levels are indicated, the user can take supplements, make dietary changes, or discuss the results with their doctor.
The VitaScan is ideal for self-testing, or for use in a clinical setting.
VitaScan was founded in 2017.
Why Ignite?
In the first half of 2018, venture capitalists invested $15 billion in digital healthcare. The reason is clear: digital health startup opportunities make for good ROI.
The possibilities for innovation to improve healthcare and to save lives are more apparent every day. However, turning those possibilities into marketable products and services requires more than cash. It requires cutting-edge technologies.
Ignite specializes in developing advanced tech solutions to a variety of industries across the globe. Medtech is but one of them.
We operate six R&D labs across Europe, placing us within your geo-strategic plan no matter where you are.
Why not contact us today for a no-cost consultation?