Four health systems have invested in a startup that develops AI technology for radiologists.
Here are six things to know, according to a May 20 news release:
1. Charlotte, N.C.-based Advocate Health, Houston-based Memorial Hermann Health System, Grand Rapids and Southfield, Mich.-based Corewell Health, and Morristown, N.J.-based Atlantic Health System led the $8 million funding round for Rad AI.
2. Rad AI offers a generative AI solution that automates the impression section of radiology reports, the pulling of findings from prior reports, and the coordination and tracking of follow-up care.
3. The investment brings Rad AI’s total series C funding to $68 million. Greensboro, N.C.-based Cone Health has also backed the company.
4. The four health systems are also collaborating with Rad AI on the development and adoption of the technology.
5. “By integrating AI solutions directly into our radiologists’ workflows across our enterprise, while maintaining radiologist oversight, we expect to realize improved reporting efficiency, accuracy and quality, all while reducing burnout for our radiologists,” said Andy Crowder, chief digital and AI officer at Advocate Health, in the release.
6. Feby Abraham, PhD, executive vice president and chief strategy officer for Memorial Hermann, stated that the health system seeks partners that “deliver measurable impact on outcomes, efficiency and improving the patient experience — and Rad AI checks all those boxes.”
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