Even though every human generation differs a lot in how it approaches everything, there are some stark similarities that bind us all together. One major similarity here talks to our shared willingness to grow regardless of the circumstances. This has helped us significantly with becoming better than our ancestors, thus making sure that the world remains on an upwards trajectory. Now, by doing so, we lock in on some evident benefits. To take an example, we can look at an avenue like technology and its progression over the years. When the creation was first introduced, most people couldn’t see a viable way to scale up what was already an unprecedented set of capabilities. However, driven by our relentless desire to get better, we, in fact, ended up conceiving various new dimensions, which were all structured to add further value within our overall technological experience. The said value will soon turn apparent throughout the spectrum, hence transforming the humans’ core brand of living. A notable appearance, however, came in the global healthcare system. With ideas concerning our health changing drastically, it was time for the world to view this sector in a fresh light. The restored faith will go on to pay up big dividends, and an important iteration of that can be observed in a recent funding.
DeepScribe, an AI-powered medical transcription platform, has successfully raised $30 million in a Series A round. Led by Nina Achadjian at Index Ventures; the round also saw close participation from cale.ai CEO, Alex Wang, Figma CEO, Dylan Field and existing investors Bee Partners, Stage 2 Capital and 1984 Ventures. DeepScribe’s take on documentation in hospitals and other medical institutes deserves your attention because of the refined way in which it goes about things. Built on AI and natural language processing (NLP), DeepScribe’s system allows it to take away the doctor’s documentation burden, and consequentially, enhance the treatment quality for patients. It replaces the current unstructured data entry methodology through an advanced yet simplistic approach, which revolves around recording vocal conversations and uploading patient’s data in the doctor’s health record system of choice. The syastem is reportedly well-equipped to perform efficiently even in small talk cases. Furthermore, it’s specifically programmed to pick only medical-related information from a conversation.
Founded in 2017, DeepScribe has, so far, helped process over half a million doctor-patient conversations. If figures are to be believed, then physicians using the company’s system have saved around 2.5 million minutes of documentation, while averaging less than one error per note in a 20 days’ timeframe.
DeepScribe plans on using the latest investment to improve current technology and finally make a foray in handling multiple large-scale health systems.
“We believe that voice will be the building blocks for the future of medicine and holds the ability to transform the diagnosis and treatment of care as we know it. We hope to leverage the data that we are harvesting through the delivery of our service to go beyond providing efficiencies for the physician and to begin improving outcomes for patients,” said Mathew Ko, co-founder of DeepScribe.
