AI personalized care startup, K Health, originating from Israel and currently operating in both Israel and the US, recently announced the successful completion of a significant $59 million financing round. The funding infusion further bolsters the company’s efforts in providing cutting-edge healthcare solutions through its AI platform. Alongside this achievement, K Health also published a noteworthy research article that compares the performance of its AI system with that of human doctors in family medicine.
The research conducted by K Health involved esteemed professionals, Dr. Jon Ebbert from the Mayo Clinic in the US and Dr. Dan Zelter, an economist from Tel Aviv University. They analyzed an extensive dataset of 100,000 medical files processed by the K Health system. Surprisingly, in 84% of cases, there was alignment between the diagnosis provided by the AI platform and human doctors. In instances of disagreement, an independent human arbitrator was consulted, revealing no preference for either the doctor or the AI platform.
K Health’s Specialized AI Diagnosis and Continuous Learning
K Health’s AI platform boasts impressive accuracy in diagnosing specific diseases such as urinary tract infections, eye infections, and upper respiratory tract infections. However, it demonstrated relatively lower accuracy in diagnosing skin diseases like dermatitis, as well as conditions like asthma, bronchitis, and abdominal pain of unknown origin. CEO Allon Bloch emphasized that K Health doesn’t claim to excel in all areas but demonstrates significant expertise in family medicine, supported by a wealth of comprehensive data.
Bloch further emphasized that the platform’s model does not rely on guesswork or assumptions but instead collects relevant information to make informed decisions. Like a seasoned doctor, the AI system determines whether a diagnosis can be reached or if further tests, specialist consultations, or follow-ups are necessary. Moreover, the system is capable of acknowledging when additional information isn’t required. K Health’s platform is consistently learning and evolving to stay abreast of medical advancements, including identifying emerging conditions, drug side effects, and epidemics.
Market Shift Impacts Funding Valuation and Workforce
Reflecting the evolving market dynamics, K Health’s current financing round was valued lower than previous rounds conducted in 2021, a time when digital health and remote medicine were at their peak amid the Covid pandemic. In early 2021, the company raised an impressive $132 million at a valuation of $1.4 billion, followed by an additional $224 million throughout the year. However, with market changes, K Health has streamlined its operations, leading to a reduction in its workforce from 310 to approximately 260 employees.
Key Investors Support K Health’s Growth
K Health has garnered support from prominent investors in the medical and insurance sectors. Among its investors are esteemed organizations such as the Kaiser Permanente pension fund, the largest insurance and health services group in the US, as well as the insurance company Elevance Health, the Mayo Clinic, and Cedars Sinai Hospital.
K Health Company Highlights
- K Health is a digital health company that provides on-demand video visits with doctors.
- The company was founded in 2015 by Dr. Adam Saperia and Rony Al-Dabbagh.
- K Health is headquartered in New York City.
- The company has raised over $200 million in funding from investors such as GV (formerly Google Ventures), RRE Ventures, and Thrive Capital.
- K Health’s video visits are available 24/7 and are covered by most insurance plans.
- The company has over 1 million members.
- K Health’s mission is to make healthcare more affordable and accessible to everyone.
K Health, an AI personalized care startup, has secured $59 million in funding and published research comparing its AI platform’s performance with human doctors. The study showed an 84% agreement between both. Although more accurate in diagnosing certain conditions, K Health acknowledges areas for improvement. The AI model prioritizes data-driven decisions and continuous learning to adapt to medical advancements. A shift in the market impacted the funding valuation, leading to a reduced workforce. Nevertheless, K Health maintains strong support from major investors, positioning the company for further growth and innovation in the personalized healthcare space.
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