Updated: Jun 21
The company's AI Care Platform aims to bring new solutions for hospitals to address workload challenges and improve workflow processes
Aidoc, an Israel-baed provider of healthcare AI solutions, announced a $110 million Series D round investment, bringing its total funding to $250 million.
This funding round will power the continued expansion of the Aidoc AI Care Platform, which enables hospitals to tackle their most prominent challenges, especially in the post pandemic reality of physician and nursing shortages, rising supply costs, and an increasingly challenging economic environment.
Aidoc's algorithms are developed with large quantities of data to provide diagnostic aid to a broad set of pathologies. The company offers an array of algorithms that span across the body including Intracranial hemorrhage, spine fractures free air in the abdomen, pulmonary embolism and more. It developed "Always-on AI", a term coined by CEO Elad Walach, which refers to a type of artificial intelligence that is "always-on" - constantly running in the background and automatically analyzing medical imaging data, identifying urgent findings and sparing radiologists from "drowning" in vast amounts of irrelevant data.
“We are building the kind of breadth and depth in AI that is allowing hospitals to fundamentally change the way they do business and provide the solutions needed to successfully compete during these challenging times” says Walach, CEO.
“Our aim is to massively ramp up our AI Care Platform to cover both the various hospital medical service lines and the depth of integration into the clinical workflows, empowering hospitals to activate cross-specialty care teams and deliver the best quality of care in a scalable, efficient way to patients”.
“These days it's not business as usual for hospitals and health systems. Healthcare leaders face an increasingly tough economic environment and it's going to require that we use technology like artificial intelligence to re-think ways to do business” says David Shulkin MD, former Secretary of the U.S. Department of Veterans Affairs.
Clinical research conducted on Aidoc’s AI solutions has shown its potential value in empowering physicians to manage larger patient volumes by reducing time to treatment, shortening length of stay in the ED and capturing more patients requiring advanced treatments.
Now, Aidoc is bringing its AI-driven clinical experience from medical imaging and multidisciplinary response teams to the entirety of the hospital enterprise—covering the key modalities, the various specialties and aiding physicians in managing the entire patient care continuum, all connected under the AI Care Platform.
The AI Care Platform already boasts 15 FDA-cleared clinical solutions, in addition to the Care Coordination application which operates as an intelligent layer on top of hospital IT systems, offering physicians a centralized solution to address care points, across the health system.
The full platform empowers radiologists and other imaging professionals to triage potential time-critical cases and for the care team to conclude deep, actionable insights derived from imaging data, and electronic medical records.
Through the Platform, physicians are empowered to spend more time engaging patients, being proactive and providing higher quality treatment, rather than being consumed by manual processes, being reactive to inbound requests and risking patients slipping through the cracks.