Hear from the IHV team about the AI-powered start-ups we’re backing that are transforming diagnostics. In this piece, we outline why we believe these companies are on track to make their mark on global healthcare and patient outcomes.
Over recent years, global health services have been grappling with the dual issues of ageing populations and the emergence of more complex health conditions. These realities are putting huge pressure on overstretched clinicians and under-funded systems.
That’s why we are so excited about the AI tools powering early diagnosis, particularly in key areas such as radiotherapy. Innovation that can spot diseases or conditions earlier means clinicians can prioritise rapid treatment; saving money and time in the long-run. Such technology can also, naturally, stop people from becoming sicker; improving outcomes and the quality of life patients can expect.
It’s an area that is evolving swiftly and one that all healthcare investors should be monitoring closely.
The areas where AI and diagnostics technology can have the biggest impact are those in which there is likely to be a substantial change in patient outcome through early intervention. If we know about it earlier, we can treat it earlier. The best innovations use technology to enhance the capabilities of clinicians, providing them with more information and enabling them to make more accurate decisions.
Cancer detection is a clear example. If we can spot and treat cancers earlier, we can save lives and reduce pressure on health services. Companies like Kheiron Medical are innovating in this space. Through their AI-tool, Mia, Kheiron gives radiologists a greater chance of spotting the signs of breast cancer earlier. Their screening technology is able to alert the clinicians when further testing is advised, ensure the images that are being assessed are of high enough quality, and notice micro patterns in mammograms that the human eye might miss. The impact of this innovation cannot be understated; the tool is already saving the lives of women whose breast cancer might otherwise have gone undetected for longer.
Another company we’ve backed is Imvaria. This start-up focuses on enhancing patient outcomes by developing digital biomarkers for better diagnosis and disease stratification. These biomarkers can provide clinicians with the tangible, quantifiable data they need to assess a patient’s vulnerability to certain conditions and provide bespoke advice on the treatment or healthcare interventions they will benefit from most. This provides a level of certainty set to transform how we approach diagnosis and reduce the burden that false or inaccurate diagnoses place on health systems.
AI technology can also be used to prevent medical emergencies before they happen, as well as spot signs of conditions that are already in train. Transformative AI is operating in this space. Their predictive patient monitoring software allows healthcare providers to respond to life-threatening medical events, such as cardiac arrests, before they occur. Their technology can identify subtle changes preceding patient deterioration that are invisible to both physicians and standard patient monitoring software. Using this information, they can identify patients at imminent risk of sudden heart attacks, allowing doctors and nurses to take preventive actions.
Technology can also reduce human error and make sure patients get the best care. Agamon uses machine learning to review unstructured medical notes. Through this, it picks up on tests or treatments that might have been requested but not carried out, ensures all recommended actions are recorded, and provides patients with understandable, useful information about their treatment plans. This helps prevent errors or gaps from appearing in the system, thereby stopping patients from falling through them. By doing this, they can ensure every patient receives the recommended care as quickly as possible.
Early diagnosis and treatment tools and technology hold huge promise. They can unlock actions which will save time, money and, most importantly, lives. It’s an area we’ve been excited about for some time and one where pioneering entrepreneurs are starting to truly make their mark.
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