Battle Of The AI Medical Scribes

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Augmedix, the one publicly-traded AI medical scribe firm, posted $13.5 million in income within the first quarter of 2024, up 40% from the earlier yr. However by Tuesday’s shut, a day after the earnings report, the inventory was down greater than 50% to $1.15 per share. The rationale? Competitors.

Augmedix CEO Manny Krakaris informed analysts the corporate was decreasing its 2024 income outlook to a spread of $52 million to $55 million from earlier estimates of $60 million to $62 million. “There are 42 firms on this area proper now which are providing generative AI medical documentation options,” Krakaris mentioned on the earnings name. “So there’s a whole lot of noise out there and a whole lot of trials which are ongoing.” He added he believes Augmedix’s vary of choices, from fully-automated to human-in-the-loop will in the end prevail given how totally different medical doctors have totally different preferences.

The corporate is making a giant push for its fully-automated AI scribe to be used in emergency departments, which was launched for normal availability final month following a pilot with HCA Healthcare. It’s sooner and cheaper than the human-in-the-loop model. Previous to the earnings name, Forbes caught up with Augmedix founder and chief technique officer Ian Shakil, who supplied perception into how the corporate plans to distinguish itself.

“The [emergency department] is difficult as heck,” mentioned Shakil, as a result of horrible acoustics, affected person rooms separated by curtains, a number of voices and medical doctors consistently switching between bedsides. Augmedix affords a hands-free choice that features a lapel mic, reasonably than having to place a cellphone down on a floor. The concept is to overcome advanced specialties, like emergency and oncology, mentioned Shakil. “If we will present energy and differentiation there, we will win accounts.”

Augmedix began with attempting to primarily create a hands-free Google glasses-based gadget for medical doctors and Shakil hasn’t given up on attempting to make the hands-free expertise even higher, although he’s now not concerned about bespoke {hardware}. These days he’s enthusiastic about microphones and sensing tools utilizing what’s already within the room – suppose good TVs and fall-detecting displays and different sensing tools that could possibly be tapped.

“The opposite profit, which is basically thrilling, is team-based documentation,” he mentioned. In a hospital, there might be a number of medical doctors, nurses and different clinicians treating a affected person. “To the diploma these hospitals are partnering, innovating and making their rooms good,” mentioned Shakil, “it permits us to sort of experience these rails.”

This $2.2 Billion Startup’s GPT-4 Powered AI Bot Demystifies Well being Insurance coverage

Transcarent

Livongo cofounder Glen Tullman is teasing a brand new AI chatbot constructed on the identical know-how that powers ChatGPT, as a part of his newest enterprise Transcarent, which introduced a $126 million Collection D at a $2.2 billion valuation earlier this month. The bot will purpose to reply the well being insurance-related questions that often stump greater than half of Individuals, like: How a lot will I’ve to pay for this physician’s go to? However specialists say Transcarent’s enterprise could also be extra of a Band-aid than a panacea, though there’s a rising market – Grand View Analysis estimates it at $10 billion – to assist folks navigate methods to discover and pay for healthcare companies.

Learn extra right here.

Pipeline & Deal Updates

Infectious Illness: Bluejay Therapeutics has introduced a $182 sequence C spherical to advance its scientific pipeline for viral and liver ailments.

Immunology: Attovia introduced it has raised a $105 million sequence B spherical to advance its scientific pipeline for the remedy of immune-related problems.

Weight problems: Metaphore Biotechnologies has signed an R&D deal with Novo Nordisk to develop two potential weight problems medication in a deal doubtlessly value as much as $600 million.

Enterprise Capital: Sands Capital introduced it has raised $555 million for its new life sciences fund, Pulse III.

Longevity: Retro Biosciences and Multiply Labs have introduced an $85 million deal aimed toward automating cell remedy manufacturing for remedies aimed toward age-related ailments.

Ache: Brixton Biosciences introduced it has raised a $33 million sequence B spherical aimed toward creating new remedies for persistent ache.

Alzheimer’s: Takeda introduced it has entered into an choice and license settlement with AC Immune doubtlessly value as much as $2.1 billion for the latter’s drug candidate for Alzheimer’s illness.

Why Lilly And Novo Nordisk Will Hold Dominating The Market For Blockbuster GLP-1 Medicine

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The mass curiosity in GLP-1 medication has led to a enterprise growth for the 2 dominant pharmaceutical gamers on this area, Lilly and Novo Nordisk, which offered over $7.3 billion value of its GLP-1 medication within the first three months of the yr. And between ramped up manufacturing capability and new drug pipelines, the pair are properly positioned to proceed dominating the marketplace for this new class of medication, which have generated pleasure within the business thanks each to robust efficacy throughout quite a few totally different ailments whereas having few security issues for sufferers.

Learn extra right here.

Different Healthcare Information

A toddler has been capable of hear for the primary time after being handled with a pioneering gene remedy for deafness.

UnitedHealth Group has invested greater than $1 billion in housing because it intensifies an more and more profitable technique to handle social determinants of well being.

For those who’re concerned about retaining worms out of your mind, listed below are some pointers.

Novo Nordisk’s semaglutide (the important thing ingredient for Ozempic and Wegovy) may slash the danger of coronary heart assaults and strokes whether or not sufferers shed some pounds when taking it or not.