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HealthSage AI

Company Overview

HealthSage AI is a digital health company focused on developing generative AI solutions for healthcare. Founded on the principles of being open, responsible, and safe, HealthSage AI aims to transform healthcare delivery by making it more accessible for patients and more efficient for providers. The company is building an open source generative AI platform fully dedicated to healthcare, hosting its own Large Language Model (LLM) as well as other models, applications and plug-ins.

HealthSage AI was started because the founders believe AI holds the key to solving many of the challenges healthcare faces today. The company is headquartered in the Netherlands, with a Chamber of Commerce registration number of 90497759 and VAT ID of NL865336702B01. It operates as a remote company with hubs in Utrecht, Netherlands and Paris, France.

Products Overview

HealthSage AI’s main product is an open source generative AI platform for healthcare. This platform offers:

  1. Note-to-FHIR: A Large Language Model that transforms unstructured clinical text into standardized FHIR (Fast Healthcare Interoperability Resources) resources. This allows for automatic analysis of clinical notes and other unstructured text with high accuracy and speed.

  2. FHIR Quality Inspector: A tool for enhancing the accuracy of FHIR resource evaluation.

  3. A range of AI models, tools, and applications, both developed by HealthSage AI and contributed by the broader community. These can be explored, tried, and customized in a secure environment before integration into existing workflows and IT systems.

The platform is designed to be: - Open source, allowing for full customization and transparency - State-of-the-art, continuously updated with the latest developments - Resource-efficient, providing cost savings and reducing environmental impact - Compliant with stringent AI regulations - Safe and trusted, with models trained and validated by medical professionals

Founding Team

HealthSage AI was co-founded by Harm-Jan Wessels and Marcel Alberti. Both have extensive experience in creating impactful solutions in healthcare IT.

In June 2024, Despoina Ioannidou joined as the Chief Technology Officer (CTO). She is described as a healthcare generative AI expert.

Problem and Market Fit

HealthSage AI aims to address several challenges in healthcare:

  1. The need for efficient analysis of unstructured clinical data
  2. The demand for interoperable healthcare information systems
  3. The requirement for safe, secure, and responsible AI solutions in healthcare
  4. The desire for transparent and customizable AI models in the medical field

The company’s products, particularly the Note-to-FHIR LLM, directly address these issues by providing a tool that can quickly and accurately convert unstructured clinical notes into structured, standardized data.

Business Model

While specific details about the business model are not provided, it appears that HealthSage AI operates on an open-source model with potential for commercial applications. They offer their platform and tools to healthcare providers, organizations, and developers, likely with support, customization, and integration services.

Funding and Runway

On April 16, 2024, HealthSage AI announced closing a €3 million seed round. This funding is intended to enhance and scale their open generative AI platform.

Competitive Landscape

The company claims that their Note-to-FHIR LLM outperforms other larger models, including GPT-4, with 8% higher accuracy (93% vs 85%). However, specific competitors are not named in the provided information.

Customers

While specific customers are not mentioned, HealthSage AI’s target audience includes healthcare providers, organizations, patients, and developers in the healthcare sector.

Relevant News

  1. June 24, 2024: Appointment of Despoina Ioannidou as CTO.
  2. April 29, 2024: Release of a new beta version of Note-to-FHIR, now supporting Dutch language.
  3. April 16, 2024: Announcement of €3 million seed funding round.
  4. January 19, 2024: Release of the FHIR Quality Inspector tool.
  5. December 4, 2023: Official launch of the Open Generative AI Platform.

Classification: AI Tier 1

  1. Core AI: Create fundamental AI technologies/base models
  2. AI-Enabled: Core offerings rely on recent AI advances
  3. AI Adopters: Use AI to enhance existing products/services
  4. Non-AI: No AI in products/services

HealthSage AI develops core AI technologies and a Large Language Model integral to their products, classifying them as a Tier 1 company.