We’re investing in Affineon via Deepwater Venture Fund II as we believe the company’s AI-based platform will become a core tool for clinicians to streamline workflows and drive incremental revenue.
Non-billed time spent by clinicians on administrative activities can be significantly reduced through Affineon’s solution, which is fully integrated into pre-existing clinician workflows and a patient’s EHR (electronic health record). Affineon will initially focus on providing health care professionals with lab and prescription related AI-based summaries and suggested patient communications, but the company has a roadmap for expansion into other areas of the clinician workflow.
Deepwater participated in Affineon’s Seed round during 2024. Co-investors in this round include AI Fund (led by Andrew Ng who is the founder of Google Brain, Amazon board member, and former chief scientist at Baidu), Signal Peak Ventures, and BGV, among others.
Healthcare providers spend more than a third of their time not seeing patients. This time is spent on non-billed clinical and administrative activities. This non-billed time represents tens of billions of dollars in lost revenue:
- Affineon integrates with clinicians’ existing workflow and incorporates critical information from a patient’s EHR (electronic health record).
- Rapid implementation, deep patient knowledge, an understanding of patient context, and proprietary clinical model training enable providers to both reduce time spent and improve the quality, specificity, and effectiveness of patient communications.
Unlike other AI-based solutions that focus on rudimentary tasks, such as ambient note taking, Affineon is tackling more clinically difficult problems. The company’s clinical team trains the platform to automate specific types of clinician workflows, creating a sophisticated AI-based system from a proprietary dataset. The potential applications for Affineon’s early work in the healthcare space are vast.