AI companies are becoming more of an environmental hassle, but healthcare AI companies similar to Innovaccer, Truveta, Hippocratic AI, and Abridge are actually positively impacting the market. Let’s take a look at how some of those healthtech (or Medtech?) companies are positively changing the world.
Why Healthcare AI Companies Matter More Than Ever
While most AI development focuses on replacing human jobs and consuming massive amounts of energy, healthcare AI companies are solving real problems that save lives. This isn’t about generating images or writing emails—it’s about revolutionizing an industry where human error can be fatal.
Leading Healthcare AI Companies Transforming Patient Care
Innovaccer: Unifying Patient Data in the Cloud
Innovaccer raised $270 million, and they’re working on unifying patient data in the cloud using artificial intelligence. They have specific tools that help with clinical decision support and care management systems.
This is one of the strongest use cases of artificial intelligence because until this moment, most of the healthcare industry relies on manual input and accounting, or manual data entry—partially because of the importance of patient data. But on the other hand, human error plays a role here, and lots of data are either being wasted or repeated, which is just a waste of time and resources.
Truveta: The Power of Patient Data Analysis
Truveta raised $320 million and they have a similar focus, but they’re more focused on analyzing patient data. This is utilizing the true power of artificial intelligence because think about it—ChatGPT can read your entire master’s thesis in a few minutes. What can it do with thousands of patient data points? Not ChatGPT itself, but other tools like it.
Diagnosis is going to be on a different level in the future. Doctors diagnose based on what they see and based on what they know. Artificial intelligence could do this in a matter of moments, knowing the patient’s history and analyzing the data. This saves time, and time when it comes to healthcare is of extreme value.
Abridge: Revolutionizing Doctor-Patient Conversations
Abridge raised $250 million and they’re sort of like note-takers when it comes to patient-doctor conversations. This is critical. Think about it when it comes to the psychiatry healthcare sector, where psychiatrists usually write notes down because they have to and because of how important these conversations are for them to study later on and analyze the data from the conversation.
Writing on paper in this sense sounds outdated—not to them, though, because they still do it till this day. This sort of tool could evolve this tradition, as long as it can care properly for patient data and confidentiality.
Hippocratic AI: Proper Healthcare Consultation Tools
Hippocratic AI raised around $141 million, and they do what a lot of people just ask ChatGPT for. I’ve talked to a lot of people who have headaches, who feel they have pain, who have injuries, and they will just take pictures and send them to ChatGPT.
ChatGPT is not a healthcare artificial intelligence. It’s not focused on that, and it would tell you that once you start asking it serious questions. Hippocratic AI is working on generative AI tools that could assist patients. It will take time, but it could actually provide consultation with a good degree of accuracy compared to tools like ChatGPT and Claude.
The Healthcare AI Advantage: Ethics Meets Innovation
These are some examples of how healthcare AI companies are making proper contributions. At least 20% of our clientele work in healthcare, and we know how critical this industry is. There is no argument there.
A lot of jobs are being replaced as we are writing this article. Customer support agents are just vanishing, accountants are afraid. Doctors, on the other hand, have nothing to worry about at the moment because it is sort of an ethical dilemma to replace human doctors with AI tools—simply because humans like to hear good news from other humans as well.
Although in the long run, we’re projecting that human doctor reliance will decrease, similar to how we were also projecting that full self-driving is going to control markets because it just makes sense when you think about it mathematically and not ethically, or not in a human sort of way.
The Future Impact of Healthcare AI Companies
Full self-driving could reduce accidents by a huge margin. Similarly, healthcare AI companies could create solutions that will decrease healthcare-related errors by a huge margin. Only then will you actually feel the power of healthcare AI companies and their contribution to the global economy.
Healthcare AI companies represent the most ethical and beneficial application of artificial intelligence technology. While other sectors see AI as a disruptive force that eliminates jobs and drains resources, healthcare AI companies are building tools that save lives, reduce human error, and make healthcare more accessible.
The question isn’t whether healthcare AI companies will transform the industry—it’s how quickly they can scale their impact to benefit patients worldwide.