People in tech often say that data is the new oil. That phrase, coined by British mathematician Clive Humby, of course implies that data is valuable. Data about a person’s health can also provide meaningful insights and improve outcomes, but only 3% of patient data is currently used by physicians, according to the World Economic Forum .
Although doctors know they can glean useful information from patient data, they don’t have the time to review every detail in the medical record. Regard, a digital health startup founded in 2017, wants to help physicians save time and increase the accuracy of diagnosis by analyzing patients’ health data using AI. Regard announced on Thursday that it raised a $61 million Series B round led by Oak HC/FT, with participation from Cedars-Sinai Health Ventures and existing investors TenOneTen, Calibrate Ventures and Techstars.
The company is now valued at $350 million, according to a person familiar with the matter. The company’s software mines thousands of data points in a medical chart and presents data in a way that allows doctors to detect health conditions more easily. “Doctors use our product because we help them make sure that nothing important is missed in the data,” Eli Ben-Joseph, Regard’s co-founder and CEO, told TechCrunch.
“Every single doctor we work with has a story about: ‘I used your product and I found something that changed the way I treat this patient.” Ben Joseph said that Regard has helped one general physic.
