According to Rock Health, the digital health funding in the first quarter of 2018 reached a whopping $1.6 billion. This is the highest first quarter on record as it surpassed the much-hyped $1.4 billion funding in venture capital during Q1 2016.
AI is being applied in 5 different areas of healthcare to improve its overall operations. It is helping in administration, care provision, clinical decision-making, big data analysis, and remote patient monitoring. We consider the top 5 startups which are relying on AI to provide the best healthcare services to their patients:
Founded by Neal Liu, an MIT graduate, the company started receiving funding in 2016. Its AI algorithms and the neural network is used to predict the healthcare patterns in patients. The aim is to prevent hospitalization so that the costs and the time can be saved. The sole purpose of this app is to provide the medical practitioners with an opportunity to focus on only such patients who are at a higher level of risk.
Bay Labs, Inc
This is a San Francisco based startup which has been able to use AI in cardiovascular imaging. This helps in the diagnosis and treatment of heart disease. The data which is produced through cardiovascular imaging can be hard to understand for some. Nonetheless, AI technology uses such algorithms and videos from the huge library that help the medical personnel in proper interpretation and cure.
Mental health is a growing issue and needs to be addressed properly before we lose a number of precious lives around us. People like Michael Phelps have also suffered from the worst form of depression so, consider this epidemic to be as real as possible. Lately, Phelps partnered with Talkspace to increase awareness on mental health. The company was founded by Oren and Roni Frank in 2012 and has already treated around half a million patients. It helps you connect with licensed therapists through their app or website.
Until now, the company has raised $6.6 million and is a renowned name in genetic sequencing. This app will run your DNA model through its AI platform comparing it with other samples in their database. The results help the app in recommending a healthy diet, an exercise routine, and a supplement plan. Not only will you be able to get the DNA health test but it will also present you with the ancestry report.
Childbirth crazily affects a woman’s body and weakens the pelvic floor. As per the research, 2 out of 3 women suffer from a weak pelvic floor and this causes various problems in them including back pain, incontinence, and prolapse. VaGenie provides a combination device and app to help women in strengthening their pelvic floor through Kegel training. It teaches the women how to perform the exercises correctly while making them fun for them.
These startups are disrupting the health industry and using AI to improve the care which is provided to the patients. There are plenty of more startups working in the field and in near future, AI is going to bring more ease to this industry.