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Advances in data science and AI are giving rise to a new wave of healthcare startups focusing on predictive analytics, precision medicine. Ciencias de la Vida research, and improved care to the patient. The rise of the digital health market is projected to increase at a CAGR of 13.4% between 2017 and 2025, getting $536.6 billion by the end of 2025.
Here are the Top Healthcare Startups (Globally) that are Redefining Innovation:
It is no longer necessary to be physically present for physical therapy. Based in Porto/San Francisco, SWORD Health has developed the world’s first digital physical therapist powered by AI. Following an assessment of rehabilitation needs, the clinical team prescribes a tailored program that the patient can take home. The patient is fitted with a highly accurate motion tracker, which communicates data wirelessly to the virtual therapist. The digital therapist can then guide the patient through the correct exercises from a distance, ensuring that they are perform correctly.
Prognos Healthcare startup
With the ambitious goal of eradicating disease, Prognos uses Artificial Intelligence and advanced data analytics to help predict disease as early as possible. They have a vast network of labs with access to 13 billion patient records. And this data is enrich before it is AId for legal awareness. This registry helps detect patients at risk and develop treatment plans. Prognos also offers a solution for payers, who can use analytics to assess at-risk populations or members and identify “care gaps.”
Flatiron Health is an oncology-focused electronic health record (EHR) company that aims to accelerate cancer research and improve patient care. They offer an EMR system that decreases time and costs, and also analytics stage that helps derive relevant insights from data, and a facility that screens patients for clinical trials. They work with hospitals, community clinics, universities and life sciences companies. Back by Alphabet, the company was bought by Roche in early 2018.
Fertilidad Moderna Healthcare Startups
This San Francisco-based company offers a fertility hormone test that women can take at home. They have to take a simple finger prick test and return it by mail to get a doctor-approved report on their hormones and fertility profile. The company is associated with Quest Diagnostics, with more than 2,000 centres in the United States. Founded by two former executives from Uber and 23andME and also launched on Y Combinator, the company raised $6 million in May 2018.
California-Based Day two
DayTwo analyzes your gut microbiome and offers personalized nutrition advice. For example, if you provide a stool sample and the result of a blood test. The company profiles your gut microbiome at the genetic level, created which it recommends what foods you should and should not eat. In 2017, it obtained $12 million in financing from Johnson & Johnson, the Mayo Clinic and also other investors.
Health in Babylon
Based in the United Kingdom, Babylon Health allows users to conduct virtual consultations with doctors and also health professionals through video/audio and text messages. Its AI-based chatbot can make recommendations and diagnoses and is intend to be an alternative to the NHS 111 service. Among its investors are the founders of DeepMind; the company raised $60 million in 2017 and claimed its AI system is on par with human doctors. So it won’t be long before we start consulting GPs with AI.
Another company harnessing the power of AI, Arterys, calls itself the AI assistant for radiologists. This San Francisco-based company offers FDA-cleared AI software for oncology that helps radiologists. Measure and track tumours on MRI and CT scans using a simple browser to more accurately recognize cancer and speed. In addition, the software uses deep learning to notice lung and liver lesions. With an accuracy that is equal to segmentations performed by human experts. Arterys completed a $30M series B financing in 2017.
This London company offers a mobile application that allows community diagnoses to be carry out on the young and children (under five years of age). It uses the data collected by digital stethoscopes and wearables. Intelligent algorithms remove insights from this data and drive disease diagnosis and prediction. One of its main application is the detection of childhood pneumonia through a digital stethoscope that attaches to the Feebris platform. Fabric won the Big Ideas competition in April 2018 and also received £10,000 in funding and the support of an RGAx mentor.
Healthcare is a sector in which an enormous amount of data is generate and collected daily. With the help of data science, machine learning, and AI. We can now analyze this data and extract meaningful insights that will pave the way for further medical innovations. Moreover, with the digital revolution, the sector continues to grow at a dizzying pace.