Gone are the days when people questioned digital technology and its usefulness in the field of medicine. Healthcare is now evolving and different startups are on the role of proving its effectiveness.
Digital Healthcare is the first of three healthcare trends. From protecting healthcare data and records to using artificial intelligence (AI), these companies are a living testimony that nothing is impossible when it comes to science.
Companies Using Blockchain System
Hospitals have a responsibility to keep patients’ files safe. The following startups make it a point to develop blockchain systems that would protect the information of their clients.
The advantages of blockchain in healthcare are:
- There will be a clear billing management.
- The process of exchanging health data and records will be done smoothly.
- The quality of supply chain is authenticated.
The California-based company, established in 2014, develops and uses a platform in social commerce. It supports the tracking of consumer products and source of luxury.
Led by CEO Ryan Orr, the startup company created The MediLedger Project, a special purpose blockchain-based application, that focuses on internet of things (IoT) and supply chain. Chronicled has an estimated total funding of $4.83M. Some of its investors include Colbeck, Pantera Capital, and Mandra Capital.
Gem creates a platform for application program interference. It caters to both supply chain and healthcare management. Micah Winkelspecht is the CEO of the company which was founded in 2013.
Located in Venice, California, this startup developed Gem Healthcare Network. The application can deliver high-quality security through blockchains. Users have the capability to control shared ledger system and access, recording every new change.
Gem has a projected total funding of $10.4M. Some of its investors include KEC Ventures, Blockchain Capital, and Pelion Venture Partners.
Cherissa McFarlane is the CEO of Patientory, a startup located in Atlanta, Georgia. Since 2015, the company continuously builds a blockchain-based electronic medical record storage network. One of its latest creations is the PTOY, a digital currency, that allows users to store and secure health records to the platform.
Patientory has an estimated total funding of $7.22M. One of its most notable investors is Boomtown Accelerator.
Companies Using Human Skin as a Platform
The rise of Internet of things doesn’t just appeal to the entertainment industry as it can also be incorporated to the field of medicine. The following startup companies introduce wearable devices or patches that sit on the skin to help monitor a patient’s condition.
The advantages of having an electronic health record are:
- Complete and up-to-date information about the patients.
- Got the ability to secure shared information with other clinicians.
- Deliver safer care and lessen medical mistakes.
Sano Intelligence is a well-known startup company from San Francisco, California, that produces a small wearable patch that monitors glucose. Users can check their records using a smartphone app. At the moment, the company is seeking approval from the US Food and Drug Administration (FDA).
Sano was established in 2011 with Ashwin Pushpala as the CEO of the company. It has a projected total funding of $10.3M. Some of its investors include Intel Capital, True Ventures, and First Round Capital.
The California-based startup crafts FDA-approved wearable biosensor technology that remotely observes patients. The device, called VitalConnect, can also give diagnostic solutions for healthcare workers such as caregivers.
Dr. Nersi Nazari, Ph.D. is the CEO of the company which has an estimated total funding of $84.4M. It was reported that they presented their devices with Brigham Women’s Hospital and other Veterans Administration hospitals.
Founded in 2004, the California-based company was said to be manufacturing digital drug products that enables transdermal medication delivery. The patch that sits on the skin got the ability to manage timing and dosing. It doesn’t just end there, because Chrono Therapeutics is also creating a technological solution for opioid cessation, Parkinson’s medications, and acute/chronic pain.
Alan Levy is the CEO of the startup company that has a total funding of $84.7M. Some of its investors include Xeraya Capital, Endeavor Vision, and Kaiser Permanente Ventures.
Companies Using Artificial Intelligence
There is no doubt that artificial intelligence could penetrate the industry of medicine. With its vast popularity, AI promises to be a great contribution to everything. The following companies use the power of AI to help patients deal with their problems, such as speeding up drug discovery.
The advantages of allowing artificial intelligence in the medical field are:
- Clinicians will give accurate and fast diagnostics to patients.
- Human mistakes will lessen.
Just in 2014, twoXAR started to engage in biomedical informatics, computational biology, preclinical validation, predictive analytics, and discovering drugs. The Palo Alto-based company uses artificial intelligence in its system.
They use a computational platform that can check different drug candidates in order to recognize unexpected relations between sickness and drugs.
Andrew A. Radin is the CEO of the startup company that has a projected total funding of $3.4M. twoXAR’s investors include CLI Ventures and Andreessen Horowitz.
Abraham Heifets is the CEO of Atomwise, a platform for discovering drugs. The startup company delivers solutions for medical predictions using the abilities of an artificial intelligence. It recently created AtomNet, a deep learning platform.
The San Francisco-based startup was established in 2012. It has a total funding of $6.12M and some of its investors include Data Collective, AME Cloud Ventures, and Khosla Ventures.
The British company is channeling the abilities of an AI in order to increase and speed up the global scientific discovery. BenevolentAI is aiming to find a cure for Amyotrophic Lateral Sclerosis (ALS) and Alzheimer’s. It detects molecules that did not succeed in clinical trials but could potentially pass in other disease states.
Ken Mulvany is the CEO of BenevolentAI, which has an estimated total funding of $140.6M. The investors of the startup company include Lansdowne Partners, Upsher-Smith Laboratories, and Woodford Investment Management.
The advancements in the field of medicine are representations that the healthcare system is on a better track. Digital technology is changing the phase of the industry and it is providing a bold impact not just to patients but to the society as well.