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9 November, 2019 00:00 00 AM
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Health start-up Augmedix gets $19m from US fundraiser

Plans to create 5,000 highly paid jobs in Bangladesh by 2021
STAFF REPORTER, Dhaka
Health start-up Augmedix gets 
$19m from US fundraiser

Augmedix, the medical note documentation start-up which promises to create 5,000 highly paid jobs in Bangladesh by 2021, has received USD 19 million in funding. This includes investments from the US-based Redmile Group, McKesson Ventures, DCM Ventures, and Wanxiang Healthcare Investments.

The company, which has a full-fledged state-of-the-art office in Panthapath in the capital, helps turn natural clinician–patient conversation into medical documentation.

It provides clinicians with hardware, smartphones, or Google glass to securely stream the clinic visit to its cloud-based platform.

Tech-enabled remote specialists are a critical part of Augmedix’s operational platform and utilise proprietary automation modules to generate medical documentation that is accurate, comprehensive, and timely delivered.

The company announced that it will use this fresh funding to accelerate product development, including automation capabilities, and to strategically scale its technology-enabled service across health systems and private clinics nationwide, said its officials

According to Crunchbase, the funding takes Augmedix’s total raised since its inception in 2012 to USD 82 million.

About explaining the working procedure of Augmedix, Pelu Tran, co-founder of the company, told The Independent that the average doctor in America spends three to three and a half hours a day for

paperwork. “We realised that someone who is young and motivated and speak

English in Bangladesh could do a very good job at supporting these doctors. That kind of pairing creates the opportunity to help one another. This really was the motivation behind the Augmedix concept,” he said.

About the use of the new series of funding, Tran said it will be used for servicing more doctors and adding more scribes.

Tom Rodgers, senior vice-president and managing director at McKesson Ventures, said he has strong confidence in the Augmedix team’s ability to execute on its goal of reducing physician burnout

and significantly improving their quality of life.

“Augmedix is uniquely positioned to leverage trained medical documentation experts, increasingly enabled by artificial intelligence, to deliver a consumer-grade experience for the clinician that results in more accurate and timely documentation in the most cost-effective manner possible,” he said.

Fifteen national health systems, including Sutter Health, Common Spirit Health, and US Oncology, representing more than 10 per cent of clinicians in the US, have partnered with Augmedix. The company has over 1,000 team members worldwide who are focused on developing and delivering the service.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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