Danish startup Corti on Thursday (Sept. 9) announced the completion of a $27 million Series A funding round. Led by Vaekstfonden – The Danish Growth Fund and Chr. Augustinus Fabrik, the round also received participation from current investors Hearcore, Id Invest and byFounders.
With the funding, the 5-year-old company plans to expand its patient base from 15 million to 100 million artificial intelligence (AI)-powered consultations per year. As its core focus, Corti strives to improve the workflow centered around patient consultations. By listening in during phone or video discussions between the patient and healthcare provider, the company’s machine learning platform can assist in documenting and coding in real time, according to Corti. The software helps to transcribe and evaluate thousands of variables within each consultation.
Initially, Corti’s technology had begun assisting in emergency medicine to support emergency calls focused on cardiac arrest and coronavirus cases. More recently, the company has transitioned into supporting medical staff undertaking patient consultations across healthcare, according to the press release.
“Healthcare professionals only have a few minutes with each patient, and these encounters are compromised by keyboards and screens, hated by patients and doctors alike,” said Corti CEO Andreas Cleve. “What we’ve been able to prove at Corti is that machine learning can be a life-saving tool by offering a new kind of ‘deep listening’ that will not only improve patient outcomes, but also save time and money.”
AI and machine learning are becoming more integral in the healthcare industry, according to a recent PYMNTS report. Of the 100 healthcare executives polled as part of AI In Focus: The Healthcare Technology Roadmap, a joint effort between PYMNTS and Brighterion, a Mastercard company, 70% of healthcare firms plan to invest in deep learning and neural networks within the next year. In addition, 19% plan to invest in case-based reasoning and about 10% intend to invest in data mining within that timeframe.
See also: AI in Focus: The Healthcare Technology Roadmap
Read more: What 100 Healthcare Execs Had to Say About Using AI to Stop Fraud, Waste and Abuse
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