Health2047, the innovation subsidiary of the American Medical Association, has launched a startup that develops augmented intelligence technologies to support clinical decision making.
Called RecoverX, the startup creates technologies that leverage research, medical charts, patient conversations and test results to provide evidence-based clinical insights and suggested actions for clinicians in real time.
At ViVE 2024, Panelists Share Prior Authorization Progress and Frustration in Payer Insights Program
At the Payer Insights sessions on Day 1 of ViVE 2024, a panel on prior authorization offered compelling insights from speakers who shared the positive developments in this area after years of mounting frustration. Speakers also shared challenges as they work with providers to figure out how policy developments and technology will work in practice.
For example, one of the technologies on the core RecoverX platform, called Diagnostic Glass, provides decision-making support to clinicians in more than 30 specialties.
Here’s how it works: the tool delivers information on differential diagnoses, that is, a list of possible conditions or diseases that could be causing the patient’s symptoms, to the clinician for consideration.
“The clinician can then use the next-best-action suggestions to validate or expand their consideration, helping improve their diagnostic efficiency and accuracy,” said Carl Bate, founder and CEO of RecoverX, in an email. “The expert is the one in control; RecoverX provides the augmentation.”
The company has also partnered with evidence-based medicine tool BMJ Best Practice, which provides access to new research, guidelines and international expertise.
Unlocking Transparency in PBM Pricing
The TSX Venture Exchange has a strong history of helping early-stage health and life sciences companies raise patient capital for research and development.
RecoverX’s technologies integrate that medical knowledge with data-driven AI to glean insights and provide suggestions.
“Clinicians face myriad system-level challenges in caring for their patients: an ever-increasing body of medical knowledge that is humanly impossible to stay current on, limited time with each patient, and a high cognitive load,” Bate said. “The consequences of these system-level challenges can be severe and lead to diagnostic error.”
Tens of thousands of people across the country are affected by diagnostic errors every year. Major diagnostic errors are found in 10% to 20% of autopsies, suggesting that 40,000 to 80,000 patients die every year because of these mistakes, according to the Society to Improve Diagnosis in Medicine.
To tackle this issue, RecoverX plans to commercialize its pilot technology and engage in strategic alliances for specific use cases in the coming year. The company has raised a seed round but did not specify how much funding it received. Its investors included Health2047 and ROBO Global Venture.
“The physician-patient relationship is central to everything Health2047 does, which is why we support RecoverX in forging instrumental improvements in patient outcomes and physician satisfaction by delivering physicians tools and knowledge at the point of care to reach the best possible decisions for their patients,” said Larry Cohen, CEO of Menlo Park, California-based Health2047, in an email.
RecoverX is the most recent company to emerge from Health2047. There are eight companies in Health2047’s portfolio, including Zing Health and First Mile Care.
Photo: metamorworks, Getty Images
