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Innovaccer, Abridge Lands Mayo, and Nvidia Goes Big at JPM
January 16, 2025
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Together with
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“If you don’t have the right infrastructure in place, there’s no way you can have an AI layer on top of it. We built that infrastructure, but it’s what comes next that’s the most exciting.”
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Innovaccer CEO Abhinav Shashank
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We’re barely halfway through the first month of 2025, and Innovaccer already raked in what could end up being the biggest raise of the year with its $275M Series F funding round.
Innovaccer got its start in 2014 with the goal of breaking down healthcare’s data siloes and using that connected fabric of information to improve care delivery.
- That infrastructure was made possible by Innovaccer’s Data Activation Platform, which unifies data across EHRs and care settings to deliver insights at the point of care.
- Innovaccer’s Health Cloud adds an entire suite of applications on top of that data layer to modernize patient experiences and alleviate administrative burdens for providers.
If Innovaccer’s last chapter was about building the infrastructure to make AI possible, the next part of its story will revolve around spearheading that new wave of solutions.
- Innovaccer plans to introduce a bustling ecosystem of AI co-pilots and agents to its portfolio, tackling everything from prior authorization and clinical decision support to care management and contact centers.
By throwing its hat into the ring of so many different segments, Innovaccer will be facing competition from just as many directions.
- The health analytics arena is packed with players like Health Catalyst and Databricks. New AI scribing and revenue cycle management startups get funded every week. Customer relationship management has a 1000-pound gorilla named Salesforce.
- The key to Innovaccer’s success will be its breadth of services, and it’s tough to name a single competitor that can match the same level of data infrastructure and co-pilot ecosystem needed to scale AI across large orgs without a mess of point solutions.
The Takeaway
Healthcare organizations have spent decades digitizing enormous amounts of data, but none of them actually want a mountain of data – they want the insights buried within it. Innovaccer helped lead the charge on creating the infrastructure, now it’s building the AI applications that can showcase the new experiences it made possible.
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Top Systems Scale Primary Care With K Health
Leading health systems are turning to K Health’s AI-driven primary care solution to give their patients access to high-quality care with wait times measured in hours, not months. Find out why K Health is the only clinical AI company partnering with top systems to scale fully integrated primary care experiences.
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Lift MA Plan Performance by Impacting SDoH
Social factors and non-medical issues strongly influence health outcomes, and addressing these contributing determinants of health can not only improve the lives of patients, but also enhance Medicare Advantage plan success. Learn how Clear Arch Health’s remote monitoring services are helping MA plans deliver cost-effective care while enabling more seniors to age independently.
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BPM Pro 2: Unparalleled Reliability
BPM Pro 2 increases data reliability with two new features that ensure patients are taking their reading properly and prompting them to rest and retake it if their first reading was abnormally high.
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- H1 Ties a Ribbon on Ribbon: The big kept getting bigger with another busy M&A week, and the biggest of them all was global health tech conglomerate H1’s acquisition of Ribbon Health, which “facilitates how patients find the right doctor across digital health and insurance platforms.” By combining Ribbon’s provider data management software with H1’s clinical insights and global reach, there’s a massive market of potential payor, provider, and digital health customers for the real-time provider data services.
- Improving Health Plan Apps: A Pager Health survey of nearly 2,000 insured adults revealed that Americans are open to more robust relationships with their health plans. Three-quarters of respondents said they’d be interested in receiving recommendations from their health plan immediately following a medical appointment if it was related to that specific concern, and 67% said they’d trust AI to deliver it to them. Another 77% said their health plan’s app would be more effective at improving their health if it also facilitated follow-up care, like scheduling an appointment.
- Abridge Lands Mayo Clinic: Although there’s been a steady supply of new Abridge partnerships recently, landing Mayo Clinic warrants a third update in as many weeks. Mayo Clinic and Abridge have been working alongside Epic to develop a nursing-focused documentation solution since July, and the newly expanded collaboration builds on those efforts with the enterprise-wide roll out of the ambient AI platform to about 2,000 physicians serving over a million patients.
- Nvidia Makes Waves at JPM: Nvidia kicked off this year’s JPM Healthcare Conference by announcing multiple new partnerships centered around scaling AI models across the industry. The headliners were a collaboration with clinical research company IQVIA to develop custom foundation models and AI agents, teaming up with genomics giant Illumina to supply tools for analyzing genome data and other sequencing information, as well as a partnership with Mayo Clinic to accelerate the system’s Digital Pathology platform.
- Health Catalyst Acquires Upfront Healthcare: Health Catalyst is scooping up patient activation and engagement platform Upfront Healthcare for an undisclosed sum (although the SEC filing mentions $86M with another $33M as milestone incentives). The gameplan appears to be to weave Upfront’s automated patient acquisition and retention solutions into Health Catalyst’s wider management services for healthcare organizations, which already include data and analytics, care management, and performance optimization.
- Veradigm Adds SDOH, Mortality Data: Veradigm integrated social determinants of health and mortality datasets into its Veradigm Network EHR for ambulatory settings. The natural language processing-derived SDOH data widens the view of patient health journeys with information on income levels, education, and housing stability. The mortality data gives researchers a better grasp of populations in outpatient settings, which helps enhance real-world evidence generation with long-term safety and mortality trends associated with drug or device use.
- AI Liability Concerns: New research in JAMIA explored the current perceptions of 532 frontline physicians and PAs toward AI, uncovering that most concerns now stem from liability and responsibility issues. Unregulated Standards and Liability Issues were the biggest concerns (median of 4 out of 5 points), ranking above other hot button topics like Privacy (3.3) and Trust in AI Mechanisms (3.0). These barriers had a strong influence on physicians’ intention to use AI, regardless of AI familiarity level.
- New Mountain Gets Machinify’ed: PE-firm New Mountain Capital is acquiring AI payments platform Machinify in a move that reportedly lifts the valuation of the combined entity to $5 billion (about two of those billions courtesy of Machinify). The new company will keep the Machinify name, generating over $500M in annual revenue by working with 60+ health plans amassed through New Mountain’s previous acquisitions of The Rawlings Group, Apixio’s rev cycle business, and VARIS.
- Amazon Pharmacy Potential: An analysis from Evercore predicts that Amazon Pharmacy could generate $33 billion in new revenue over the next 3 to 5 years, driven primarily by expanding same-day delivery (which will soon be available to half of its customers). Evercore data showed that 13% of Amazon customers ordered from the pharmacy last year, compared to 9% in 2023, and it seems to make sense that the trend would continue given how quickly retail pharmacy chains are closing their stores and leaving customers with unmet needs.
- When Breakthrough Devices Don’t Break Through: Medical device and software developers often tout their receipt of the FDA’s “breakthrough device” designation, but getting the stamp doesn’t necessarily mean the products will reach the market. Legal analyst Bradley Thompson breaks down the program, noting that only about 12% of breakthrough devices are ultimately cleared or approved. Thompson speculates that the FDA actually reviews breakthrough devices more closely than other products, which could stifle companies with “overly burdensome requests for data.”
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Payer-Provider Collaboration Essentials
With the economy shifting and healthcare regulations evolving, Medallion’s Elevate session with execs from MultiPlan and Clover Health tackled the big question: How can payer-provider collaboration future-proof your processes? Head over to the full discussion to see their five actionable takeaways for successful partnerships.
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Join the Nabla Team!
Nabla is scaling up, and it’s looking for a Head of Marketing to lead its next phase of growth. This role will help broaden Nabla’s footprint and showcase the proven impact of ambient AI with a company dedicated to bringing joy back to the practice of medicine. Learn more and apply here.
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The First 30 Days: What to Expect With AI
Implementing AI documentation tools promises significant benefits, but how do you ensure a smooth transition? Playback Health has you covered with this comprehensive 30-day roadmap outlining what to expect, industry best practices, and its own proven implementation approach.
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