What You Should Know:
– Regard, an AI-powered clinical insights platform raises $61M in Series B funding led by Oak HC/FT with participation from prominent healthcare and technology investors.
– The investment will fuel the company’s mission to unlock the full potential of patient data for improved clinical care.
Untapped Potential in Healthcare Data
The healthcare industry is experiencing a data deluge. New technologies generate mountains of patient information, but a vast majority remains unutilized for clinical decision-making. According to The World Economic Forum, physicians leverage less than 3% of the data available to them. With an average of 50,000 data points per patient, the gap between raw data and actionable insights is significant.
Regard: Bridging the Gap with AI
Regard steps into this gap by acting as an intelligent data bridge. The platform analyzes all available patient data and generates insights, including potential diagnoses. Clinicians then review and approve these recommendations, enabling them to deliver more informed and efficient care. Regard further streamlines workflows by ensuring complete and accurate documentation in a standardized format, a key factor for both clinical quality and hospital revenue.
Expansion Plans
Since its launch in 2021, Regard’s AI technology has identified over three million diagnoses and generated more than $50M in additional revenue for healthcare system partners like Banner Health and Sentara. The company recently announced a new partnership with WakeMed Health & Hospitals, a leading North Carolina health system.
The $61M funding will propel Regard’s growth on several fronts:
- Accelerated Product Development: Enhancements to the core clinical insights platform will further empower clinicians.
- Large Language Model Research: Investment in LLM research holds promise for even more advanced data analysis and insights generation.
- Beyond Inpatient Facilities: Regard plans to expand its reach beyond traditional hospital settings.
“Imagine a doctor having all the EHR information they need about a patient, right in front of them, in just seconds. Regard is augmenting patient care by analyzing overwhelming mountains of clinical data and providing clinicians with potential diagnoses and treatment recommendations, impacting the quality and safety of care in real-time,” said Eli Ben-Joseph, CEO at Regard. “That’s a game-changer – not just for doctors, but for the people whose lives are in their hands.”
