Combining AI with a rigorously curated evidence-based medicine data source spanning 30 major specialties accelerates shift to augmented healthcare
MENLO PARK, Calif., Sept. 21, 2021 - Health2047 Inc., the Silicon Valley-based innovation subsidiary of the American Medical Association (AMA), has both helped shape and invested in RecoverX, a startup that develops evidence-based medicine (EBM) augmented intelligence (AI) technologies to support and enrich physicians' decision-making. RecoverX provides evidence-based insights at the point of care and next-best-action suggestions for decision support in real-time and in context, taking signals from clinical charts, patient conversations, and test results. The company's platform augments physicians' ability to provide best-in-service care for their patients.
"We're delighted to support RecoverX in its mission to give physicians more tools and knowledge at the point of care to reach the best possible decisions for their patients," said Lawrence K. Cohen, CEO of Health2047. "Combining medical experts with evidence-based medicine and data-centric AI will yield both better patient outcomes and greater physician satisfaction."
Technology to enhance accuracy
According to the National Academy of Medicine, a diagnostic error will likely affect the health of every human being in our lifetime, sometimes with harmful consequences. A delayed or incorrect diagnosis occurs in up to 15% of cases. Moreover, diagnostic errors are the most expensive medical errors, with aggregate costs to the U.S. health care system estimated at between $250 billion to $500 billion annually.
Physicians today face myriad challenges in caring for patients: an ever-increasing body of medical knowledge that is physically impossible to stay current on, limited time with each patient, and a high cognitive load. RecoverX seeks to bridge this knowledge gap, solving critical cognitive and financial challenges at the front end of healthcare by increasing decision-making efficiency, reducing resource waste, and improving both patient outcomes and physician experience. RecoverX is transforming the way physicians practice, moving from the currently overwhelmed human-based present to an evidence-based, AI-empowered future.
RecoverX leverages robust and highly curated data to fuel its technology. RecoverX partnered with BMJ Best Practice to integrate its award-winning knowledge set into the platform. BMJ Best Practice provides access to the latest research evidence, together with guidelines and international expert opinion to hospitals and health systems worldwide. It has been ranked one of the best clinical decision support tools for health professionals worldwide.1
The RecoverX executive team brings strong industry expertise in both AI and digital health. Carl Bate, the company's founder and CEO, was previously the global lead for ADL Digital Health and co-leader of the Digital Problem Solving and AI/ML Practice at Arthur D. Little. Jennifer May Lee, MD, RecoverX's chief medical officer, is a triple board-certified MD and previously served as a physician at both Columbia University Medical Center and NYU Langone. The chief product officer is David Epstein, formerly president and CEO at medCPU. The chief scientific advisor is Bob Rogers, PhD, Expert in Residence for AI at UCSF Center for Digital Health Innovation and prior co-founder of Apixio. Representing Health2047 on the RecoverX board is CEO Lawrence Cohen, PhD.
"Leveraging evidence-based guidelines, we can enhance insights provided at the point of care and accelerate the world's shift to augmented healthcare," said RecoverX CEO Carl Bate. "Demands on healthcare are increasing near-exponentially, and we cannot create a truly sustainable model for medicine until we solve the information challenge. The opportunity to continuously leverage scientific knowledge advancement is there, but better medicine requires combining expert physician capabilities with evidence and AI."
"At BMJ, promoting innovation in the health sector and supporting physicians by reducing cognitive burden is a critical part of what we do to help create a healthier world," added Louise Crowe, Director of BMJ Knowledge. "That's why we are so enthusiastic about our collaboration with RecoverX. Continuously updated evidence-based guidance from BMJ Best Practice delivers real-time decision support directly into the clinical workflow, helping reduce potentially costly errors at point of care."
A series in health innovation
RecoverX is the most recent company to emerge as a Health2047 portfolio company in 2021. Other companies in Health2047's portfolio include:
- SiteBridge Research, whose novel trial-in-a-box platform provides access to clinical research training, resources and support spanning initial feasibility and site start-up through full study delivery and close out. (2021)
- Emergence Healthcare Group, whose turnkey practice solution is designed to reduce the administrative burdens and financial pressures intrinsic to today's private practice. (2021)
- Phenomix Sciences, who is developing products based on the founders' work at Mayo Clinic that shows obesity is comprised of four distinct phenotypes. (2021)
- HXSquare, whose secure data exchange benefits healthcare patients, physicians, researchers, and other applicable industry participants by enhancing clinical decision support, accelerating R&D, and mitigating risk. (2020)
- Medcurio, whose instant data access solution simplifies insight extraction and allows healthcare organizations to harness the full value of their data quickly and efficiently while protecting patient data privacy. (2020)
- Zing Health, a tech-enabled Medicare Advantage plan that helps doctors and communities coordinate improved and individualized care for chronically underserved populations. (2019)
- First Mile Care, a preventive chronic care company building an affordable, scalable, and sustainable platform to reverse prediabetes. (2018)
- Akiri, whose secure, private "network-as-a-service" enables the sharing and use of trusted health data in real time. (2017)
About Health2047
