Artificial Intelligence in healthcare is one of the biggest technological advances in medicine thus far. Healthcare providers are currently experiencing a colossal overload of data; yet, sifting through the all the information necessary on a time budget to make a data-based decision without machine learning is almost impossible.
Dr. Mark Michalski, the Executive Director of the MGH and BWH Center for Clinical Science, currently focuses his research on improving clinical practice with machine learning. He says, “Finding ways to take all that deluge of data and turn it into something that is actionable and meaningful for clinicians is what all that data is about. The last ten years have really been about finding ways to generate more data about patients, so we have lots of genomic data. The next 10 years are really about making meaning from that data.” He stresses that he is more excited about the integration of AI into programs already within use, like CTs and MRIs, rather than AI as a standalone product.
In terms of investing in AI in healthcare, Cris de Luca, a Medtech Innovator as well as the Global Head of Digital Innovation for Johnson & Johnson Innovation believes that while AI in healthcare is a “top-trending buzz factor,” it is still “under-hyped.” He says, “Very few companies in the world can do real AI and these are ones with access to reams and reams of data. Entrepreneurs should choose their investors wisely, not only for smart funding but also to increase access to data partnerships and strategic commercialization opportunities.”
Here are the US top 5 AI in Healthcare Startups:
Paige. AI, or stands for Pathology AI Guidance Engine, combines pathology with artificial intelligence to fight cancer. The startup raised a $25,000,000 series A announced on February 6, 2018. The Memorial Sloan Kettering Cancer Center signed a licensing agreement with Paige.AI to give the startup exclusive access to MSK’s intellectual property in computational pathology, including access to MSK’s 25 million pathology slides. In the MSK clinic, Paige.AI has implemented their slide viewer, whose functions include being microscope vendor agnostic, device independent, and the fastest viewer in the field.
Dr. Fuchs from the Paige.AI team, says, “Paige.AI will provide decision support for pathologists in detecting disease better and faster. We aim to enable pathologists to focus efforts on fewer manual tasks and more strategic work – such as integrating histologic findings with diagnostic analyses. Our goal: transform pathology from a largely qualitative to a more quantitative discipline, and move it into the digital era.”
Prognos is a New York based startup that raised a $20,500,000 Series C in December 2017. Its primary goal is to eliminate disease by using artificial intelligence to predict disease and drive decisions earlier in healthcare. The Prognos registry includes more than 15 billion medical records. It tracks 180 million people in over 50 disease areas including asthma, lung cancer and many rare diseases. The startup partners with clinical labs and diagnostics companies while its clients include health plans and Life Sciences companies.
According to Prognos co-founder and CEO Sundeep Bhan, Prognos’ mission is “to improve health by predicting disease the earliest. The company is helping advance this cause by developing approaches to detecting disease before it happens. Prognos’ talented team of data scientists and clinicians is using sophisticated artificial intelligence techniques to analyze clinical lab and diagnostics results and make predictions about an individual’s risk for disease, from identifying those at early high risk, to newly diagnosed patients, to those not responding to care.”
Univfy, based in Los Altos, CA, has raised a $6,000,000 series A announced on February 6, 2018. Their goal is to maximize women’s chances of conceiving a baby through In Vitro Fertilization by offering more accurate predictions about their chances for success. The startup applies machine learning to provide personalized reports using the patient’s own health data and the individual provider’s past outcome data. Over 50% of patients have higher probabilities of IVF success than estimated based on traditional age-based analysis.
Mylene Yao, CEO and cofounder of Univfy says, “At Univfy, we are passionate about applying AI to help individuals make emotional, life-altering decisions. Our goal is to improve patient outcomes and provider efficiency, while expanding nationwide access to IVF, the most effective treatment for the millions of couples suffering from infertility.”
Bay Labs, a San Francisco based startup, has raised a 5,500,000 series A announced on December 14, 2017. The startup uses AI in cardiovascular imaging to diagnose and treat heart disease. While cardiovascular imaging can produce data that, for some clinicians, can be difficult to understand, their AI technology uses algorithms and a vast video library to help clinicians perform and properly interpret echocardiograms.
CrossChx, based in Columbus, Ohio, has raised a 5,000,000 series C announced on December 14, 2017. The startup focuses on healthcare identity management solutions as it automates repetitive, high volume tasks. The AI technology is interoperable with existing computer systems for healthcare providers. One of its main functions is navigating EHRs, as it can transfer patient data, audit data retrieval, process medical bills, automate insurance data, process claims, enter eligibility checks, and report analytics.
Header Photo: Prognos, “Put AI to work”
Leah D’Sa is a Junior studying Writing, Literature, and Publishing at Emerson College. She is currently a copyeditor for the school newspaper the Berkeley Beacon as well as Poetry Editor for the literary magazine the Emerson Review. She is looking to begin her career with health technology writing as she seeks to combine her lifelong love of writing and science.
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