Post by account_disabled on Mar 4, 2024 5:18:36 GMT -5
Today, we’re excited to announce that Scale has led a $50 million Series B round in healthcare technology company Robin. We believe Robin has cracked the code on tech support in the medical exam room. Robin Healthcare is in the medical charting and claims business. Their Robin Assistant product is a hardware device with audio and video capabilities paired with a human-computer interaction artificial intelligence software platform. Located in the patient exam room, the device generates patient visit records so that both the patient record and SOAP notes (what happened during the visit) are generated and all services provided are tagged with the relevant reimbursement code (what was billed). Robin aggregates all data related to a patient visit—even doctor-patient conversations—to create documents that address the complexities of insurance companies, compliance, and liability. Overall, we believe AI can replace services typically provided by business process outsourcing companies (AI eats BPO) and other third parties. Not surprisingly, medical documentation is a major category of BPO spend and is often manual and person-centric. Robin is pairing automation with trained medical personnel. This is similar to how Unbabel’s AI translation platform cannibalizes the work of external translation agencies.
We're really excited about Robin's approach to all of this. The company joins several other leading digital healthcare companies we have invested in over the past three years: Viz.ai, Proscia and OM1. We believe Robin is part of a Paraguay Mobile Number List trend we call cognitive applications, where enterprise technology systems leverage the best of a combination of advanced artificial intelligence, real-world data collection, and interconnection between systems (via APIs). We’ve written extensively to explain why we’re seeing all enterprise software move toward cognitive applications. Physicians Want to Take Back Their Time Physicians enter medicine to care for patients, but complex administrative rules often require them to spend more time documenting care than delivering care. There have been numerous attempts to solve this problem with software, including electronic medical records and transcription services, but all have failed. For example, in a private medical practice of 10 plastic surgeons, you would have 5 or even 10 different processes handling the required annotations and coding. Some doctors take notes during visits and then hand those notes over to staff members who specialize in handling billing codes. Some will take notes and code on their own every night after patients have finished get off work.
Some try to do everything in real time to minimize after-hours admin time. etc. Robin believes this problem is a symptom of a larger problem - one that stems from faulty data and siled systems. It knows that treatment must begin at the source: the exam room. It must also provide greater accuracy while not distracting doctors from treating patients. Physicians told us that annotating and coding are administrative tasks they would rather not do. "Paperwork" takes up a lot of their time. Therefore, a combination of equipment and software that can seamlessly take over this job is a welcome improvement, allowing doctors to focus more on patient care and less on already overwhelmed administrative time. When doctors see their last patient at 6 p.m., they don't spend another two hours summarizing charts. Robin Assistant We like Robin's product because it doesn't try to do anything. That is, it does not attempt to fully automate in real time. The technology to do this does not yet exist. Instead, the company is oriented toward human-computer interaction systems, where speech recognition and computer vision systems capture the data, and then a team of experts reviews the information from the visit and packages and structures the data for documentation and medical coding.
We're really excited about Robin's approach to all of this. The company joins several other leading digital healthcare companies we have invested in over the past three years: Viz.ai, Proscia and OM1. We believe Robin is part of a Paraguay Mobile Number List trend we call cognitive applications, where enterprise technology systems leverage the best of a combination of advanced artificial intelligence, real-world data collection, and interconnection between systems (via APIs). We’ve written extensively to explain why we’re seeing all enterprise software move toward cognitive applications. Physicians Want to Take Back Their Time Physicians enter medicine to care for patients, but complex administrative rules often require them to spend more time documenting care than delivering care. There have been numerous attempts to solve this problem with software, including electronic medical records and transcription services, but all have failed. For example, in a private medical practice of 10 plastic surgeons, you would have 5 or even 10 different processes handling the required annotations and coding. Some doctors take notes during visits and then hand those notes over to staff members who specialize in handling billing codes. Some will take notes and code on their own every night after patients have finished get off work.
Some try to do everything in real time to minimize after-hours admin time. etc. Robin believes this problem is a symptom of a larger problem - one that stems from faulty data and siled systems. It knows that treatment must begin at the source: the exam room. It must also provide greater accuracy while not distracting doctors from treating patients. Physicians told us that annotating and coding are administrative tasks they would rather not do. "Paperwork" takes up a lot of their time. Therefore, a combination of equipment and software that can seamlessly take over this job is a welcome improvement, allowing doctors to focus more on patient care and less on already overwhelmed administrative time. When doctors see their last patient at 6 p.m., they don't spend another two hours summarizing charts. Robin Assistant We like Robin's product because it doesn't try to do anything. That is, it does not attempt to fully automate in real time. The technology to do this does not yet exist. Instead, the company is oriented toward human-computer interaction systems, where speech recognition and computer vision systems capture the data, and then a team of experts reviews the information from the visit and packages and structures the data for documentation and medical coding.