Abtrace, a healthtech startup that aims to transform how chronic and long-term health conditions are detected, monitored and treated, has raised €2.4 million seed funding in a round led by Faber and joined by Ganexa Capital.
Founded in 2018 and led by NHS doctors, Abtrace offers an AI-based tool which can plug-into the Electronic Health Record (EHR) database and identify which tests or treatments a patient with a long-term health condition could benefit from. The software allows GPs and healthcare assistants (HCAs) to make more informed decisions, automate key elements of disease monitoring, and ensure patients receive consistent, effective care.
Abtrace could be described as an additional “intelligent layer” on top of the EHR, which suggests actions based on an individual’s medical history, learns from a wider pool of data points and prompts proactive early interventions which might otherwise be missed.
For example, if a patient with a long-term condition such as diabetes attends their GP surgery for a routine blood test, the Abtrace system would show their GP or HCA which other tests are due as well as suggest additional tests which the patient might benefit from. This means multiple tests or monitoring can be completed during one appointment: minimising the need for repeat trips, ensuring key tests aren’t missed, and automating routine interventions – creating a safer, better experience for the patient and saving each GP practice time and money.
Overall, the technology will enable the management of long-term health conditions to move from a reactive, often piecemeal approach, to a proactive process informed by rich data.
Following a pilot of the technology, which involved several GP practices and 15,000 patients, Abtrace led to a 30% reduction in the number of HCA appointments needed and halved the number of repeat prescriptions that required a GP appointment to process it. As a result, practices using the platform saw a significant decrease in their covid-induced backlog of appointments and an increase in patient satisfaction.
Going forward, the platform’s machine learning and natural language processing technology will also be used to spot the early signs of emerging conditions. By taking into account a patient’s symptoms or health issues over a period of time, Abtrace’s machine learning algorithm will be able to more accurately recognize the first signs of serious conditions, including cancer. The team is developing the application of this product in partnership with the NHS, academic partners and cancer charities.
Abtrace’s team has spent the last 3 years building its robust deep-learning platform in partnership with clinicians and the NHS (the UK National Health Service).
Abtrace’s co-founder and CEO, Dr Umar Naeem Ahmad, who is also a practicing NHS doctor, said: “Abtrace is part of the paradigm shift: from reactive to proactive care, from late diagnosis to early detection, from healthcare records that just store data to intelligent predictive systems that use it to improve and save lives. Our results so far have been hugely encouraging and we’re delighted that these investors have made it possible to expand our reach to help more patients.”