McKesson Ventures

Augmedix Raises $23M to Cut Down on Doctor Paperwork

by | Dec 14, 2016 | Portfolio News

On average, doctors spend three to four hours a day on paperwork. That’s half a standard workday spent on menial tasks. But Augmedix is trying to change that. The company is using state-of-the-art technology to significantly reduce the amount of time that doctors spend on paperwork.

Through the use of Google Glass, Augmedix is able to digitally record each doctor’s visit. A remote assistant is then able to fill out all the necessary paperwork in real-time.

All the doctor has to do is review the paperwork and sign off on it. Augmedix estimates that this new method will reduce the amount of time doctors spend on paperwork by up to 80 percent.

The revolutionary approach to healthcare is quickly attracting investors. Last week, Augmedix raised $23 million from new investors McKesson Ventures and OrbiMed. The latest round of funding brings Augmedix’s total funds raised to $60 million.

“We have a real opportunity to change how healthcare is delivered, making it thorough and connected,” said Pelu Tran, co-founder of Augmedix. “Primary care is, increasingly, the hub of healthcare, and it needs to be thorough and integrated and connected, with doctors being able to stay ahead of increasing needs.”

Tran further stated that the company’s goal is to deploy their system across the entire physician base. Based off of patient approval ratings, that goal is certainly obtainable.

“The acceptance rate is 99 percent, with only 1 percent declining use of a Google Glass unit. As you know, there will always be some people turn down anything [sic]. There’s never complete acceptance,” Tran stated.

To learn more about Augmedix’s latest round of funding, click here.

For additional Augmedix funding coverage, check out the following: