DUBLIN, April 26, 2016 /PRNewswire/ --
Google Glass startup Augmedix Inc. today revealed a USD 17 million strategic investment from five major healthcare systems. Augmedix will receive investments from U.S. healthcare systems including Sutter Health, Dignity Health, Catholic Health Initiatives (CHI), TriHealth Inc., plus an unnamed fifth investor. This strategic investment round will enable Augmedix to upscale its Google Glass-powered service and provide it to hospitals, health systems and private clinics across the United States. The electronic medical record / electronic health record market in the U.S. is forecast to grow at a CAGR of 6.53% by 2019, according to a report available from Research and Markets. This strong and stable market will provide plenty of opportunity for Augmedix to further expand its services.
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To use Augmedix's services, a doctor simply puts on Google Glass and engages the patient. The patient's electronic health records are accessed and updated in real-time using commands, verbal notes and a remote scribe. The service increases doctor productivity by 30%, is HIPAA-compliant and works with all electronic health records.
The global patient portal market is expected to reach a value of USD 2.74 billion by 2020, as forecast in a recent report. The success of Augmedix's service could result in a greater market value, especially if the technology is adopted by health systems in other parts of the world.
Another market likely to be influenced by Augmedix's success is the smart augmented reality glasses market, of which Google Glass is a participant. Shipments of augmented reality glasses are expected to surpass 12 million units during the 2015-2020 period, but additional units could be required if Augmedix's service becomes common practice in the U.S. health system.
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SOURCE Research and Markets