6 Ai Based Medical Equipment Business Success Stories [2024]

Pat Walls

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Updated: November 1st, 2023

Start An Ai Based Medical Equipment Business

Artificial intelligence is transforming patient experience, how clinicians practice medicine, and how the pharmaceutical industry operates. Application of AI in medicine includes but is not limited to using machine learning models to search medical data and uncover insights that will help improve health outcomes and patient experiences.

AI has enabled patient self-service to chatbots, computer-aided detection systems for diagnosis, and image data analysis, which helps identify candidate molecules in drug discovery. If you are enthusiastic about applying modern technology to improve healthcare, consider starting an AI-based medical equipment business.

Here are some real life success stories of starting a AI based medical equipment business:

1. AdviNow Medical ($2.4M/year)

James Bates, the CEO and Founder of AdviNOW Medical, came up with the idea for his business after realizing that doctors spend 2/3 of their time on clerical work, leaving less time for patients. He saw the potential for artificial intelligence to automate the front and back office of clinics, allowing doctors to focus on patients and increasing revenue and profitability. With the vision of making healthcare available to everyone through technology, AdviNOW is revolutionizing the industry and seeing significant success with over 1,000 medical locations adopting their automated medical visit system.

How much they make: $2.4M/year
How much did it cost to start: $15M
Current team size: 25

How We Started Our $100K/Month Medical Artificial Intelligence Software Company

AdviNOW Medical uses artificial intelligence to automate clerical work, resulting in doctors being able to focus solely on patients and patients seeing more doctors every day, leading to increased profitability while solving healthcare issues.

About

James started AdviNow Medical over 7 years ago

Revenue

James grew the business to $200K/month

Costs

It cost James $15000000 to start the business

Read this case study

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Learn more about starting an AI based medical equipment business:

Where to start?

-> How much does it cost to start an AI based medical equipment business?
-> Pros and cons of an AI based medical equipment business

Need inspiration?

-> Examples of established AI based medical equipment business

Other resources

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Starting An Ai Based Medical Equipment Business: Everything You Need To Know

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6. myESR

The ESR serves the healthcare needs of the general public in the field of Radiology.

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