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Rad AI announces $25m Series A to improve the field of radiology

Press releases may be edited for formatting or style | November 10, 2021 Artificial Intelligence Business Affairs

"It's important to us to remain at the forefront of implementing groundbreaking technology to best serve our patients and provide the optimal environment for our radiologists to do their best work," Dr. Casey Schmitz, neuroradiologist and physician lead for the AI Workgroup at Inland Imaging. "Our radiologists are impressed with the efficiency gains, quality gains, and reduction in fatigue. Rad AI is an ideal partner that is both innovative and customer-focused, and places a premium on developing long-term partnerships."

Rad AI's second product, Continuity, closes the loop on follow-up recommendations for significant incidental findings in radiology reports. Using AI-driven automation, Continuity ensures that appropriate patient follow-up is communicated and completed. This improves patient outcomes, reduces health system liability, and drives new financial value for health systems and radiology practices. Continuity integrates directly into health systems' EMR, and also has a platform available for outpatient imaging.

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Made for Radiologists, by Radiologists

Rad AI co-founder Dr. Jeff Chang is the youngest radiologist and second youngest doctor in U.S. history. After working over a thousand overnight shifts as an ER radiologist for the past decade, he clearly saw some of the biggest problems radiologists face - fatigue and burnout, errors in reporting, and a shortage of radiologists despite rising imaging volume. After pursuing graduate work in machine learning, he co-founded Rad AI to provide ways to help radiologists using the latest advances in AI.

"Radiology is central to medical diagnosis and patient care; the radiology report is key to correct diagnosis, appropriate treatment, and monitoring of disease progression. When it comes to high-quality patient care, radiologists make all the difference," said Dr. Chang. "By using AI to streamline radiologists' workflow and reporting, our goal is to positively transform radiology with the latest advances in technology - keeping the radiologist top of mind and the patient at heart."

"AI is now serving as a critical skill multiplier for physicians, allowing for significant improvements in patient outcomes and overall healthcare costs," said Stuart Peterson, founder and managing partner of ARTIS Ventures. "Within healthcare, radiology is a key part of medical diagnosis and treatment, and ideally suited to leverage the power of AI and machine learning. Rad AI's recent and significant momentum is a function of these tailwinds and its unique position - it has been built for radiologists by radiologists, transforming the field with this inside perspective as its driving force. We believe they are set to unlock enormous value for the entire healthcare imaging ecosystem."

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