Smart Reporting gets €15 million to expand its medical reporting tools

Today German startup Smart Reporting has closed its Series B financing round led by yabeo, alongside other investors like entrepreneurs Ann-Kristin Achleitner, Wolfgang Reitzle and Rolf Dienst.

Munich-based Smart Reporting, founded in 2014, aims to offer a digital health solution for structured medical reporting. Currently, more than 99% of medical reports are free-text, which poses severe problems to quality, reproducibility and efficiency in the healthcare system. Smart Reporting offers an intelligent software for physicians which improves quality and efficiency. The first platform was launched in radiology and supports radiologists in generating high-quality medical reports by applying guideline-compliant criteria in their reports. The software can be seamlessly integrated into other systems and can be combined with speech recognition and speech commands. Furthermore, Smart Reporting provides an ideal tool to integrate AI and image analysis algorithms into the clinical workflow.

Prof. Dr. med. Wieland Sommer, founder and CEO of Smart Reporting explains: “There is a huge need for better data in medicine, which needs to be standardized already when the physician documents findings in his clinical workflow. This makes physicians more efficient, ensures comparability between institutions and enables real-time analytics. I am convinced that the medicine and healthcare of the future is grounded in data science. Our ability to get reliable data from every patient at a large scale will be the foundation to provide better and more personalized care to the ever increasing patient population.”

Currently, the startup’s multilingual, cloud-based software for structured reporting in radiology and pathology is used by more than 10,000 physicians in more than 90 countries. The recent investment round will be used to further develop the technology as well as to scale into different disciplines of medicine, including surgery, oncology and cardiology.

“With Smart Reporting, the leading software solution in radiology has already been on the market for several years and is close to becoming industry standard in terms of speed, quality and productivity of structured reporting. We are very pleased to accompany one of the leading digital health startups from Germany on its growth path,” says Matthias Sohler, founder and Managing Director of yabeo. 

Smart Reporting has also recently launched a COVID-19 template, which is essentially a decision tree that guides radiologists in assessing cases with a suspected COVID-19 infection. The decision tree was developed together with leading experts in the field and is based on the most recent guidelines from international societies (e.g. RSNA / Radiological Society of North America), provides access to reference images and relevant clinical literature. In the past few weeks over 2,000 radiologists have registered and to access this template which is accessible free of charge.

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