WakeMed Health & Hospitals

Since its launch in 2021, Regard says its technology has surfaced more than three million diagnoses to care teams and generated more than $50 million in incremental revenue for enterprise health system partners. Clinical decision software company Regard pocketed $61 million in series B funding to scale its reach in healthcare as investors have a growing appetite for AI-powered startups. Regard developed an AI "co-pilot" for physicians that streamlines documentation and helps diagnose medical conditions, and the company has inked partnerships with a number of large health systems. Oak HC/FT led Regard's series B financing round with participation from Cedars-Sinai Health Ventures, as well as existing investors TenOneTen Ventures, Calibrate Ventures and Techstars. Regard, formerly HealthTensor, raised $5 million in a seed round in 2021 and picked up $15.3 million in a series A funding a year later. The company is now valued at $350 million, TechCrunch reported. The company plans to use the fresh capital to accelerate product development with its core clinical insights platform and invest in fundamental research in large language models  (LLMs). Regard also wants to expand beyond inpatient facilities, according to executives. Last year, the company announced a partnership with OpenAI to release new core product functionalities and a new chatbot, Max, built on OpenAI’s LLM, GPT-4. Regard says it aims to unlock the massive troves of clinical data to help provide insights to physicians. According to The World Economic Forum, less than 3% of available patient data is used by a physician. With an average of 50,000 data points per patient, the gap between the vast amount of data available and clinically actionable insights generated from it is significant, according to executives. "Imagine a doctor having all the EHR information they need about a patient, right in front of them, in just seconds. Regard is augmenting patient care by analyzing overwhelming mountains of clinical data and providing clinicians with potential diagnoses and treatment recommendations, impacting the quality and safety of care in real-time," said Eli Ben-Joseph, CEO at Regard, in a statement. "That's a game-changer—not just for doctors, but for the people whose lives are in their hands." Regard designed its platform to analyze all available data and recommend diagnoses to hep drive better patient care. The company's software also streamlines clinical documentation in a standardized format, a critical step to ensure clinical quality and enhance hospital revenue, executives said. Since its launch in 2021, Regard's technology has surfaced more than three million diagnoses to care teams and generated more than $50 million in incremental revenue for enterprise health system partners including Banner Health and Sentara. The company also signed partnerships with WakeMed Health & Hospitals. "Cedars-Sinai has been working alongside Regard from the early days of the business because we saw a real need to empower physicians with the data that can provide critical analysis and insights to assist in diagnosis and treatment," said Maureen Burgess, partner at Cedars-Sinai Health Ventures, in a statement. "And, even more importantly, we believe it will improve patient care as well as the patient experience." Banner Health plans to roll out Regard’s tool in a phased approach to all 33 acute-care hospitals in its system across six states in 2024. The technology is an opportunity to increase face time between providers and patients, the partners say.  “Electronic medical records are all-encompassing, and there are good things to that and there are some challenges to that,” Susan Lee, D.O., Banner’s physician executive, told Fierce Healthcare back in March. “Sometimes, pieces of data that clinicians need are difficult to find and could be old.”  As an “elegant search tool,” Lee said Regard recognizes words clinicians use to pull the relevant data from all existing Banner Health records for a particular patient. It can pull out tests, lab data and imaging reports “far, far faster than a human can ever do it.”

WakeMed will leverage Regard's AI to streamline documentation efforts for clinicians with the goal of reducing administrative burden and driving patient safety LOS ANGELES, May 15, 2024 /PRNewswire/ -- Regard, an AI clinical platform within the EHR that helps clinicians diagnose medical conditions, today announced a three-year enterprise agreement with WakeMed Health & Hospitals, a leading health system in Raleigh, North Carolina. WakeMed will roll out Regard's AI-powered tool to the system's three acute care hospitals in the city by the end of 2024. This new collaboration will allow for improved documentation quality and in turn, decrease physician burden and improve patient care. WakeMed is focused on a system-wide effort to improve quality efforts through documentation improvement. Regard's technology helps to improve documentation efforts by using proprietary algorithms and artificial intelligence to generate clinical insights to improve workflows and patient care without added burden on clinicians. "We are thrilled to integrate Regard's capabilities throughout all WakeMed hospitals to improve patient care by surfacing critical information that exists within the EMR," said Nate Wilson, Regard's chief operating officer and co-founder. "WakeMed is pushing the boundaries of innovation and we can't wait to see the notable impact this will bring for patients and physicians over the next three years." Regard's AI solution automatically and securely reviews all clinical data on each patient to surface critical insights. This allows physicians to spend face-to-face time with patients and provide the best quality care, rather than spend that critical time navigating the EHR, writing notes, and analyzing clinical data. With improved diagnosing, care transitions, and medication safety, Regard is more than a documentation tool – it's a tool to improve patient care across health systems. Some examples of the way Regard benefits both clinicians and patients include: Improved Diagnosing – Regard drives patient safety by reviewing all data to ensure vital diagnoses don't get overlooked or spotted too late like sepsis, atrial fibrillation, acute kidney injury, or chronic conditions. Improved Care Transitions — Regard's technology ensures continuity during handoffs, providing clinicians with all of the relevant details needed to get up-to-speed quickly. Medication Safety – Regard ensures medications are accurate, preventing mistakes like accidentally discontinued meds or double-dosing. About Regard Regard, the leading AI clinical automation technology company, analyzes the entirety of the medical record and streamlines EHR navigation for busy physicians, enabling them to accurately diagnose patients and automate clinical workflows like chart reviews and notes. Regard users call it their "AI Resident." The technology helps health systems get the most value out of their clinical data, saves physicians time, improves patient care, and rejuvenates hospital finances. Regard is carving a path forward for health systems and physicians to meaningfully leverage AI, with the goal of empowering physicians to provide world-class healthcare to everyone. Media contact: Dori Young [email protected] SOURCE Regard

SALT LAKE CITY, Feb. 29, 2024 /PRNewswire/ -- Today, Health Catalyst publicly announced the seven winners of the Catalyst Awards, an annual awards program recognizing hospitals and health systems that have led the way in digitizing and transforming healthcare. The winners were announced at the annual Healthcare Analytics Summit (HAS) in Salt Lake City, Utah. HAS is the premier event showcasing data and analytics' critical role in tackling some of healthcare's most significant challenges. The Catalyst Awards Continue Reading The winners of the 2024 Catalyst Awards, an annual awards program recognizing hospitals and health systems that have led the way in digitizing and transforming healthcare. (PRNewsfoto/Health Catalyst) High-Value Data and Analytics Winner: Baylor Scott & White Health Baylor Scott & White Health achieved a six-fold increase in sepsis bundle compliance, $8.3M cost savings during the 15-month study period, the result of a statistically significant difference in total direct costs, 17 percent lower ICU admission, and 17 percent lower mortality rate. Patient Engagement Winner: Providence Providence achieved a 25.2 percent increase in average patient engagement, increased engagement across 13 separate deployments, including different hospitals, clinics, and service lines. The organization also achieved a 44 percent relative decrease in readmissions for patients undergoing total joint replacement and a 15 percent relative decrease in LOS. Population Health Winner: The Queen's Health System The Queen's Health System achieved $7.1M in cost savings, a 71.6 percent relative reduction in inpatient admission, a 15.9 percent relative reduction in LOS, and a 37.1 percent relative reduction in 30-day readmissions. Quality and Cost Winner: WakeMed Health and Hospitals WakeMed Health and Hospitals achieved $10M in direct variable cost reduction, and 37 patients avoided readmission to the hospital. Without this work, the health system would have needed inpatient beds for 10 more patients every day of the year. Tech-Enabled Managed Services – Analytics Winner: Carle Health Carle Health applied AI to identify and understand the drivers of long/excess LOS. New insights enabled improved leadership decision-making, and the organization avoided implementing costly interventions that would not have impacted drivers of long/excess LOS. Tech-Enabled Managed Services – Chart Abstraction Winner: Community Health Network Community Health Network achieved $1.8M in cost savings, a 58 percent relative reduction in bleeding complication rate after post-percutaneous coronary intervention, and an 18 percent relative reduction in LOS. Tech-Enabled Managed Services – Trailblazer Winner: INTEGRIS Health INTEGRIS Health applied AI to establish leadership and performance goals that demonstrate actual, achievable improvement in a transparent and reproducible way that motivates change. The organization also established processes for establishing goals less prone to bias and responsive to human value judgments. "We're proud to recognize these seven organizations for their incredible data-driven healthcare transformation," said Dan Burton, CEO of Health Catalyst. "These significant, measurable improvements, clinically, operationally, and financially, are to be commended, and we are grateful to have played a role in enabling their great success." About Health Catalyst Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed. Media Contact: Amanda Hundt Vice President, Corporate Communications [email protected] 575-491-0974 SOURCE Health Catalyst