After announcing a $60 million Series C financing round in January, San Francisco-based Rad AI has announced an additional $8 million investment led by four health systems: Advocate Health, Memorial Hermann Health System, Corewell Health, and Atlantic Health System.
Rad AI is a generative AI company in radiology, building solutions designed to improve workflow, care quality, and patient outcomes. The company said this partnership brings critical insight from leading health systems to accelerate the next wave of AI-driven innovation in healthcare.
The oversubscribed Series C funding round was led by Transformation Capital, with participation from existing investors Khosla Ventures, World Innovation Lab, UP2398, Kickstart Fund, OCV Partners, Cone Health and others.
"The impact of AI in healthcare is no longer theoretical — it's happening right now at scale," said Doktor Gurson, co-founder and CEO of Rad AI, in a statement. "It's an honor to collaborate with these leading health systems to expand that impact even further, building solutions that improve care for millions of patients."
"Advocate Health's investment in AI solutions reflects our dedication to innovation and our belief that responsibly deployed AI tools can improve the lives of both our healthcare providers and our patients," said Andy Crowder, chief digital and AI officer at Advocate Health, in a statement. "By integrating AI solutions directly into our radiologists' workflows across our enterprise, while maintaining radiologist oversight, we expect to realize improved reporting efficiency, accuracy and quality, all while reducing burnout for our radiologists."
"Memorial Hermann invests in AI not just to adapt to technology, but to transform patient care and improve workflows," said Feby Abraham, Ph.D., executive vice president and chief strategy officer for Memorial Hermann, in a statement. "We are always seeking partners who can deliver measurable impact on outcomes, efficiency and improving the patient experience and Rad AI checks all those boxes."
Rather than offering standalone tools, Rad AI said it delivers an integrated solution to multifaceted clinical challenges. Here is how it describes its platform:
• Rad AI Impressions automates the impression section of reports, saving radiologists more than an hour per shift on average, company said.
• Rad AI Reporting enhances the full radiology workflow with features like Omni Unchanged, which pulls stable findings from prior reports with one phrase and cuts follow-up dictation time by 50% and spoken words by 90%. Omni Report enables radiologists to dictate naturally and auto-fills structured templates, up to doubling reporting speed and easing cognitive load, according to Rad AI.
• Rad AI Continuity closes the loop on incidental findings by automatically tracking and coordinating follow-up care. Health systems using Continuity have improved follow-up exam completion rates from approximately 30% to over 75%, helping ensure critical findings don't fall through the cracks, the company said.
