Medical AI company Suki has announced that it has successfully raised $70 million in new funding. This capital will be used for the development of its products, including an AI-driven voice assistant for clinical practitioners.
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Punit Soni, Founder and CEO of Suki, stated in a press release: "There is a growing demand for AI in the healthcare industry, and we are proud to offer a fully functional solution that seamlessly interoperates with existing tools." "With the support of investors, we will accelerate our growth, diversify Suki's capabilities, and deepen our relationships with strategic partners, such as MedStar Health, one of the most significant partners in Suki's history."
As previously reported, Suki raised $20 million in 2018, and the company's assistant aims to replace transcription of notes and orders, and retrieve patient data.
In addition to the Suki Assistant, the company also offers the Suki Platform, described as a suite of developer tools for tech companies looking to add AI to their own solutions. The company states that over the past two months, a dozen major health systems and hospitals have deployed or expanded their use of its technology.
This funding comes at a time when AI is making progress in the clinical field through advanced note-taking systems. As PYMNTS wrote in August, these tools use natural language processing and speech recognition to transcribe and analyze interactions between patients and clinicians.
Brad Boyd, National Healthcare Industry Leader at BDO USA, told PYMNTS: "By automating clinical workflow activities, including clinical documentation, coding, prior authorization, and medication coordination, providers can focus more time on patients rather than being distracted between patients and paperwork."
This shift is crucial for addressing healthcare workforce shortages, especially in primary care.
Boyd said: "Over the past few years, primary care relationships have been eroding, with patients turning to retail health and urgent care providers due to the need for timely medical care."
Dr. Innocent Clement, CEO and Founder of Ciba Health, highlighted additional benefits.
Dr. Clement told PYMNTS: "AI-driven clinical note generation can enhance interactions between doctors and patients, improve accuracy, and empower patients to be more actively involved in their healthcare by providing transparent access to their medical information."
Key Points:
💼 Suki secures $70 million in new funding for AI healthcare platform development.
🗣️ AI voice assistant aims to streamline clinical workflow and enhance efficiency.
🔍 The investment occurs at a critical juncture when AI is advancing in the clinical field.
