Healthcare IT companies raised $1 billion in venture capital in Q2 — down slightly from the $1.3 billion raised in Q1 but up significantly from the $451.3 million raised in Q4 2022. Unsurprisingly, a lot of these investments were made in companies offering generative AI products. Another key trend was increasing cash flow to remote patient monitoring startups, likely caused by expanded reimbursement for these services.

Healthcare IT companies experienced a bounceback in venture capital deal activity during Q1 of 2023. Rebecca Springer, PitchBook ’s lead healthcare analyst, said she is optimistic that healthcare IT startups will be able to keep this momentum going, especially those focused on staffing and value-based care enablement.

AI and machine learning can transform data from health records — “real world data” — into “real world evidence” that will bolster the medical community’s collective knowledge exponentially. Yet, clinical decision support platforms are the only way all this added practice-based knowledge can actually be used to improve overall care.

The latest report from Accenture, which claims the health AI market will hit $6.6 billion by 2021, also highlights which AI applications will have the biggest near-term impact in healthcare.

To gather feedback on its Proposed Interoperability Standards Measurement Framework, ONC has opened a public comment period, which closes July 31.