Automated Note Taking Startup Augmedix Raises USD 19 Million in Series B Funding

By StartUp City | Monday, November 04, 2019

Augmedix provides clinicians with hardware, smartphone or Google Glass to securely stream the clinic visit to its cloud-based platform. After this, the tech-enabled remote specialists make use of proprietary automation modules to generate medical documentation that Augmedix claims to be accurate, comprehensive and timely delivered

FREMONT, CA: San-Francisco based medial note documentation startup, Augmedix, raised USD 19 million in a Series B funding round, bringing the startup's total funding since inception in 2012 to USD 82 million. The funding saw participation from Redmile Group, McKesson Ventures, DCM Ventures, Wanxiang Healthcare Investments, and others.

The company turns natural clinician-patient conversations into medical documentation in real-time by leveraging augmented reality. According to the company, the Augmedix platform is powered by      a combination of proprietary natural language processing technology and medical documentation expert teams. According to Manny Krakaris, CEO at Augmedix, the startup is addressing the severe and growing problem of doctor burnout.

Augmedix provides clinicians with hardware, smartphone or Google Glass to securely stream the clinic visit to its cloud-based platform. After this, the tech-enabled remote specialists make use of proprietary automation modules to generate medical documentation that Augmedix claims to be accurate, comprehensive and timely delivered. Currently, the service works with over 25 specialities and supports most electronic health records. The company has already partnered with 15 health systems, including Sutter Health, CommonSpirit Health, and U.S. Oncology, to decrease clinician burnout and simultaneously increasing productivity. These systems employ well over 100,000 physicians or about 10 per cent of the U.S. total in aggregate.

"It's doing it differently than its competitors because the note-taking is performed in real-time. The benefits of this are that a physician feels that his/her documentation specialist is an extension of the care team. The specialist observes what is taking place, both visually and audibly, in a completely passive manner,” Krakaris said. “This allows the doctor to have a completely normal interaction with the patient, which translates into a higher level of patient care and higher patient satisfaction. Also, it yields the greatest time savings for them, up to three hours each day, which they can bank into the quality of life enhancement or convert into increased patient volume,” he added.

The company will make use of the new capital to accelerate product development, including automation capabilities, and to strategically scale its technology-enabled service across healthcare systems and private clinics nationwide.

Check out: Top Healthcare Startups

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