IKS Health makes strategic investment in Abridge to launch a partnership that enables the creation of accurate and trusted generative AI models for healthcare

IKS Health and Abridge

May 18, 2023 – DALLAS AND PITTSBURGH – 3 IKS Health, a healthcare Provider Enablement Platform, and Abridge, a Generative AI for Healthcare Platform, announced an expansive partnership to build and deploy AI-based technology that can reduce the administrative burden that is currently driving provider burnout and staffing shortages. Over the coming months, IKS will leverage Abridge’s generative AI to realize efficiencies in their clinical documentation services. In turn, IKS will accelerate the development of Abridge’s core AI technologies by contributing feedback from their large workforce of medical professionals. This alignment between both parties, empowered by IKS’ strategic investment in Abridge, advances both company’s respective missions to scale their impact across the healthcare system at a critical time when costs and clinician burnout are at unprecedented levels.

Both teams are aligned in their journey to eliminate administrative work and are driven by the rising rates of burnout among clinicians that is leading many to exit the healthcare workforce. According to a paper recently published in the Journal of General Internal Medicine, physicians would require more than 27 hours a day to deliver all of the clinical and administrative work asked of them. Clinical documentation burden has been amongst the biggest drivers of provider burnout, which in turn has further exacerbated the demand-supply gap in care delivery.

IKS is a healthcare enablement platform focused on assisting US-based healthcare organizations deliver better, safer and cost-effective care through a strategic blend of technology and domain expertise.. In this case, Abridge has developed a generative AI solution for automating clinical note drafts and associated structured data in the formats preferred by clinicians.

“The most important relationship in healthcare is between the patient and the provider, and this is also the most compromised one today due to the mounting administrative burden on providers. Our goal is to assist clinicians by taking away and assisting them with the administrative chores and enable them to focus on their core value of building trusted relationships with their patients in order to drive better clinical outcomes.,” said Sachin K. Gupta, founder & CEO of IKS. “Our partnership with Abridge will transform how generative AI will be leveraged in a pragmatic, provider-ready solution that enables them to deliver better, safer and more efficient care at scale.”

About IKS Health

IKS Health takes on the chores of healthcare—spanning administrative, clinical, and operational burdens—so that clinicians can focus on their core tasks of medical care delivery. Combining pragmatic technology and dedicated experts, IKS enables stronger, financially sustainable enterprises. IKS’s Care Enablement Platform delivers data-driven value and expertise across the care journey, and IKS is a partner for clinician enterprises looking to effectively scale, improve quality and achieve cost savings through forward-thinking solutions. Founded in 2006, IKS’s technology-enabled solutions and global workforce supports large health systems, medical groups and risk bearing entities across the United States. For more information, visit ikshealth.com.

Inventurus Knowledge Solutions Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares, and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, ICICI Securities Limited, JM Financial Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited, at https://www.icicisecurities.com, https://www.jmfl.com/, www.jpmipl.com, www.jefferies.com and www.nomuraholdings.com/company/group/asia/india/index.html respectively, and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

Media Contact – IKS Health
Sarah Bennight
Senior Vice President
sarah.bennight@ikshealth.com

Contact – IKS Health India:
Srushti Rao
VP Communications, IKS Health
+91 98203 94009
srushti.rao@ikshealth.com

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