Regard, an AI-powered clinical insights platform, has raised $61m in a Series B financing round led by Oak HC/FT.
The investment will fund the expansion of Regard's product development, research in large language models (LLMs), and growth beyond inpatient facilities.
Formerly known as HealthTensor, Regard is enhancing the way clinicians use patient data, aiming to bridge the gap between available data and actionable clinical insights.
The World Economic Forum reports that less than 3% of available patient data is used in clinical care, despite the fact that there are on average 50,000 data points per patient.
Regard's AI co-pilot integrates with electronic medical records (EMRs) to help curate patient data, suggest diagnoses, and generate clinical notes, addressing this significant gap in healthcare data utilisation.
Since its inception in 2021, Regard has surfaced over three million diagnoses to care teams and generated over $50m in incremental revenue for health system partners.
The company's recent partnership with WakeMed Health & Hospitals underscores its ongoing commitment to improving patient care through advanced technology.
Last year Regard also collaborated with OpenAI to develop Max, a chatbot based on GPT-4.
In 2021, Regard received $5m in seed investment, followed by $15.3m in a Series A financing round the next year.
Regard CEO Eli Ben-Joseph emphasised the impact of the platform, stating: "Regard is augmenting patient care by analysing overwhelming mountains of clinical data and providing clinicians with potential diagnoses and treatment recommendations, impacting the quality and safety of care in real-time."
Oak HC/FT General Partner Nancy Brown also expressed confidence in Regard's potential, saying: "Regard is positioned to revolutionise how we think about clinical decision-making support for doctors. The team at Regard has built a platform that is driving value for patients, physicians and health systems alike by improving outcomes, increasing efficiency, reducing burnout, and increasing revenue."
