Abridge, the leading generative AI platform for clinical conversations, has raised a $250 million Series D investment, coinciding with the milestone of surpassing 100 deployments at some of the largest and most complex health systems in the United States. The Series D investment, co-led by Elad Gil and IVP, includes contributions from Bessemer Venture Partners, California Health Care Foundation, CapitalG, CVS Health Ventures, K. Ventures, Lightspeed Venture Partners, NVentures (NVIDIA’s venture capital arm), Redpoint Ventures, Spark Capital, and SV Angel. The investment will fuel additional development of AI capabilities and commercial growth to support broader applications.
“We are excited about the potential of Abridge’s technology to enhance Inova’s clinical documentation across our care sites,” said Matt Kull, Executive Vice President, Chief Information and Digital Officer, Inova. “The quality of specialty-specific notes and Abridge’s responsiveness to clinician feedback with rigorously tested enhancements stood out to us. Learning more about the innovation behind the scenes—ensuring notes are both clinically useful and billing compliant—along with the demonstrated ROI at other institutions has been compelling as we explore this solution.”
Abridge, recently named Best in KLAS for the Ambient AI segment, has also introduced a new Contextual Reasoning Engine—an AI architecture that produces more clinically useful and billable notes at the point of care. Today, healthcare systems are plagued by incomplete clinical notes that delay billing processes, resulting in the loss of countless hours spent improving documents, often weeks or months after a patient visit. Generating comprehensive, billable notes that support appropriate claims at the point of care creates administrative efficiencies, reducing costs and freeing doctors to focus more on patient care.
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The Abridge Contextual Reasoning Engine enables the following:
- Contextual awareness beyond the conversation: integrating data from retrospective patient encounters, health system-specific revenue cycle guidelines, and clinician documentation preferences to create more comprehensive, personalized notes.
- Precise problem detection: intelligently recognizing and grouping medical problems, describing them with language that aligns with appropriate billing codes to simplify downstream revenue cycle workflows (integration with Epic’s Diagnosis Awareness Notes under active development as part of Epic’s Workshop program).
- Actionable outputs: capturing medical orders and integrating them into the electronic health record, ready for clinician review (integration with Epic under active development as part of Epic’s Workshop program).
- Auditable notes: tying AI-generated outputs to source information across all input data—powered by Linked Evidence.
“Our health system is remarkable for its scientific and clinical achievements, but also overwhelmed and demoralized by bureaucratic processes, unproductive steps, and tedious labor,” said Somesh Dash, General Partner, IVP. “AI can be transformative by abstracting away the complexity and rules around revenue cycle as it pertains to documentation, allowing clinicians to focus on their patients while getting their documentation right the first time. Abridge is pioneering this effort with leading health systems across the country.”
“The Abridge Contextual Reasoning Engine helps us concentrate more value into our core documentation offering, integrating system and revenue cycle requirements into a sophisticated and orchestrated system of AI models,” said Dr. Shiv Rao, Abridge CEO and Founder. “We aspire to serve our health system partners for the decades to come. This investment supports that aspiration, as well as the core research and development that differentiates our approach.”
Source: Businesswire
