Category: clinical documentation improvement intiative

What You Should Know:

– Nuance Communications, Inc. announced the U.S.
Department of Veterans Affairs (VA) is using the Nuance Dragon Medical One
speech recognition cloud platform and its mobile app, PowerMic Mobile.

– The solution helps VA doctors better document patient
care in-person, and now remotely through expanded telehealth services necessary
in the COVID-19 era.

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Nuance® Communications, Inc. today announced that the U.S. Department of Veterans Affairs (VA) is using the Nuance Dragon® Medical One speech recognition cloud platform and PowerMic Mobile microphone app to help physicians document patient care provided through dramatically expanded VA telehealth services since the start of the COVID-19 pandemic.

Helping Physicians Document Care During Virtual Visits

The cloud-based technology allows VA physicians to use their voices to capture and document patient stories securely, accurately, and more efficiently during virtual visits conducted by phone and the widely deployed VA Video Connect platform. Nuance Dragon Medical One is the leading medical speech recognition solution today used by over 550,000 physicians. Compatible with the VA CPRS and Cerner Millennium, it is a key productivity component in EHR solutions throughout the Federal Government, including Veterans Affairs and the Military Health System. Because the VA first standardized on Nuance cloud-based Dragon Medical solutions system-wide in 2014, physicians could readily adopt the added capabilities and mobile flexibility of Dragon Medical One for telehealth services.

“Helping frontline clinicians at the VA and other major health systems has been our highest priority since the pandemic began,” said Diana Nole, executive vice president and general manager of healthcare, Nuance. “The combination of our cloud-based platforms, organizational agility and deep experience working with the VA health system made it possible for us to act quickly and deliver the technology solutions needed to protect and assist physicians treating patients remotely. While our strong sense of mission and purpose in serving critical healthcare organizations and businesses already is very clear, it becomes amplified knowing that our technology solutions are playing a role in caring for our nation’s Veterans.”

What You Should Know:

– Augmedix closes $25 million in private placement
funding and completion of a reverse merger transaction with Malo Holdings Corp.

– Following the transaction, the merged entity will be
named “Augmedix, Inc.”, and will continue the historic and innovative
business of Augmedix. 

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Augmedix, a company
specializing in providing remote medical documentation and live clinical
support services, today announced the closing of a $25 million private
placement financing and completion of a reverse merger with Malo Holdings Corp.
In connection with the financing, current investors Redmile Group, DCM, and
McKesson Ventures invested alongside new investors.  Financial advisory firms, Stifel, Nicolaus
& Company, Incorporated, B. Riley Securities, Inc., and GP Nurmenkari, Inc.
(as consulted by Intuitive Venture Partners) acted as placement agents for the
private placement.  Montrose Capital
Partners was the sponsor for this transaction.

Reverse Merger Details

Augmedix further announced the completion of a reverse
merger transaction with Malo Holdings Corp., an SEC-reporting public Delaware
corporation. Following the transaction, the merged entity will be named
“Augmedix, Inc.”, and will continue the historic and innovative
business of Augmedix.  In connection with
the financing and merger, Augmedix agreed to cause its common stock to be
quoted on the OTC Markets QB tier, subject to certain terms and conditions.

Remote Medical Documentation & Live Clinical Support

Founded in 2012, Augmedix converts natural clinician-patient
conversation into medical documentation and provides live support, including
referrals, orders, and reminders, so clinicians can focus on what matters most:
patient care. The Augmedix platform is powered by a combination of proprietary
automation modules and human-expert assistants operating in HIPAA-secure
locations to generate accurate, comprehensive, and timely-delivered medical
documentation.

Augmedix services are compatible with over 35 specialties
and are trusted by over one dozen American health systems supporting
telemedicine, medical offices, clinics, and hospitals.  We estimate that our solution saves
clinicians 2–3 hours per day, increases productivity by as much as 20%, and
increases certain clinicians’ satisfaction with work-life balance by 49%

Manny Krakaris, Augmedix Chief Executive Officer, said, “We’re thrilled to complete this financing, which we believe puts Augmedix on the path of accelerated expansion, and will enable us to broaden our operational capabilities, accelerate our technology research and product development, and strengthen our marketing and sales.”  Krakaris noted that the COVID-19 pandemic has accelerated the growth of telemedicine and enabled Augmedix to showcase its competitive advantages in the medical documentation market.  “Because the Augmedix service is accessed through mobile devices and is telemedicine application-agnostic, our innovative technology allows clinicians access to medical note documentation, regardless of their location,” Krakaris said.