ImpactAlpha, May 3 – Suki’s product transcribes what doctors say to patients, documents treatment plans and prescriptions, and integrates with existing electronic health records systems. The idea is to reduce note-taking by doctors and, eventually, provide them with a digital assistant that can help manage patient care.
- Total funding… Suki raised $15 million in a funding round led by Venrock and joined by First Round, Social+Capital, Nat Turner of Flatiron Health, Marc Benioff of Salesforce and other individuals. Venrock led a previous, $5 million seed round.
- Market potential… The healthcare IT market is expected to grow to $280 billion by 2021, according to a 2017 report by research firm Markets and Markets.
In a dozen pilot projects, early results show Suki cuts doctors’ note-taking time, which averages almost two hours for every hour spent with a patient, by up to 60 percent. Suki founder Punit Soni says the artificial intelligence underlying the product adjusts to the way individual doctors practice and reduces administrative work.