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“Put accessible and affordable health service in the hands of every person on earth.” |
| Founded: January 2013 in London, UK
Category: Artificial Intelligence/Health Care Primary office: London, UK Core technical team: London, UK Status: Private Employees: 1001-5000 Amount raised: USD $635.3 million (3 rounds) |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
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Sells
- AI Symptom Checker: Online access; Health tool /app access
- Online triage tool: Ask A&E – allowing patients to receive information about possible next steps such as self-care at home or attending A&E in person after listing their symptoms
- Digital In-App Monitoring: Helping individuals to measure and track blood pressure, pulse, weight and BMI (in development)
- Babylon Covid-19 Care Assistant: Virtual Assistant that offers Covid-19 information from NHS doctors and clinicians
- Babylon’s GP At Hand app: Offers access to a General Practitioner at any time of the day, or night, for 365 days a year.
Channels
- Partnership with Higi and other developers to extend medical services across continents (North America, Europe, Asia)
- Healthcare services subscription through either their website or iOS and Android mobile applications
- Pay-as-you-go payments
- Centrally funded initiatives like NHS (UK), OHIP (Canada), or as part of health insurance packages.
- Social media
- Disruptive market entry as a virtual walk-in clinic, i.e. Alberta
Competencies
- Big data, cloud, AI/ML
- Technology: HTML5 and ExpressJS (Languages and Frameworks), AMP (software development), and others
- Brand: one of the first companies to introduce AI in healthcare services
- Business model: for-profit, through direct sales and licensing
- Ecosystem: seamlessly integrating access to healthcare services, integrating AI diagnosis, links to healthcare providers, and pharmacy services for a patient.
Distinct AI Features
Type
- Babylon’s technology is designed as a diagnostic engine based on a complicated set of rules decided by clinicians who provide a range of probabilities for different symptoms. The software’s path to making decisions becomes more complex as the rule set grows.
AI use
- Evolving AI where it could reliably supplement human medical doctors
- Supporting national and private service providers in saving money and producing better health outcomes for patients
- Enable resource integration between healthcare providers and insurance companies
- Support patients’ health
Rate of return on customer’s investment to make AI work
Immediate:
- Timely access to medical episodic care at an affordable price that is covered by insurance; healthcare access in remote regions
Long term:
- Reliable health tool in the absence of immediate medical care or non-emergency inquiries
Databases
- patient’s medical records
- inputs by healthcare professions
Quantum Computing
- Limited need of quantum computing in view of complexity of calculations
Resources
Assets
- Skilled expertise team of software engineers
- Babylon Health Chatbot – registered as a Class 1 Medical Device in the UK (comparable to spectacles and walking frames)
- Access to Healthcare professionals in different countries
- Focus on episodic care
- Access to medical care in remote or underserved areas where patients don’t have the option of having a regular family physician.
Processes
- Software engineering and matching algorithms with patient records (Investments: USD $100 million as 2018)
- Acquire or develop strategic partnerships with companies to strengthen Babylon Health’s position in the ecosystem
- Seamless application of the most appropriate medical care:
- Inform, decide, monitor: High-quality information, support through the AI Symptom Checker, and Digital In-App monitoring
- Connect: 24/7 live chat support with Covid-19 trained professionals
- Consult: Virtual consultations for the small % of patients who need them
- Refer: Swift transfer to ER or clinic if required
- Admit to hospital
Priorities
- Extend service reach across all continents, combining accessibility with affordability
- Invest in AI and technology development to further facilitate the company’s mission
- Strengthen security and eliminate privacy breaches
- Collect and integrate insights by healthcare professionals and other stakeholders into the business services and processes
References
- Crunchbase 2020. BabylonHealth. https://www.crunchbase.com/organization/babylon-health
- Owler 2020. BabylonHealth. https://www.owler.com/company/babylonhealth
- Forbes 2018. This Health Startup Won Big Government Deals—But Inside, Doctors Flagged Problems. https://www.forbes.com/sites/parmyolson/2018/12/17/this-health-startup-won-big-government-dealsbut-inside-doctors-flagged-problems/#231dafa4eabb
Contributors
- Todorov Radomir
- Damilola Balogun
