SAN MATEO — Notable Health, an artificial intelligence (AI) powered health care company that automates and digitizes physician-patient interactions, has closed $13.5 million in a Series A funding round. The financing round was led by F-Prime Capital Partners and Oak HC/FT with participation from existing investors Greylock Partners and Maverick Ventures.
Notable Health’s AI technology is addressing a long-standing challenge that physicians encounter when updating electronic health records (EHR) by having them speak directly into their Apple smartwatch rather than a PC or tablet – which can be difficult to work with, interfere with patient interaction, along with information often being captured incorrectly. Physicians using Notable Health are saving 70 minutes and 1000 clicks per day allowing them to schedule additional patient appointments resulting in a 15-20% increase in revenues, on average.
“Notable Health was founded with the mission of enriching every physician-patient interaction by eliminating the drudgery of administrative tasks and improving data quality. Through the use of continually-learning AI, voice recognition, and wearables we’re empowering physicians to be more productive and improve patient outcomes,” said Pranay Kapadia, Co-Founder and CEO. “We are thrilled to partner with some of the industry’s leading digital health investors as we continue to expand our product development and accelerate hiring across the company. We feel by addressing the traditional charting methods physicians currently use in their EHRs, Notable Health is in a unique position to help physicians operate more efficiently, see more patients, and help the industry continue to move to a more outcomes-based model.”
Notable Health uses sophisticated AI to learn physician behaviors and patterns and proactively assists with ICD-10 coding, E&M billing, improving adherence to quality measures, and streamlining the routing of orders. For in-visit findings, physicians use their Notable Health-issued Apple smartwatch device to capture audio during and after a patient visit. Data is automatically structured and entered into the correct EHR fields, ensuring zero workflow interruption. The company’s technology and operations are HIPAA compliant and use proprietary robotic process automation that allows for turnkey EHR integrations eliminating traditionally cumbersome IT projects and roadmaps.