Ada Health, developer of an AI-powered symptom assessment and care navigation platform, expanded its leadership team as the company hit profitability and reported a 260% rise in revenue year over year.
Nick Altebrando is the company’s new chief product officer, and Yury Rozenman will be senior vice president of business development.
Ada’s AI-powered symptom checker is built on 13 years of research and input from over 50 medical experts. It can assess 3,600 conditions and 30,000 medical codes, covering rare diseases, women’s health, pediatric and mental health.
The leadership expansion builds on a host of milestones the company hit last year, from product advancements to partnerships and AI technology developments.
Ada introduced Care Journeys, starting with a COVID-19 solution in partnership with Pfizer, guiding high-risk patients to telehealth consultations.
This initiative expanded to cover flu care across all 50 states and Washington, D.C. The company also bolstered its strategic partnerships with Jefferson Health, Novartis and Pfizer and joined the U.S. Business Action to End HIV Coalition.
On the tech front, Ada has been optimizing its AI, with bi-weekly updates enhancing the accuracy of its medical engine and improving electronic health record integration.
These improvements have streamlined assessments, reducing average enterprise assessment times to under two minutes with fewer than 21 questions.
“Bringing Nick and Yury on board is not just about enhancing our team’s capabilities; it’s a pivotal move to deepen our engagement with the healthcare ecosystem at a time when reliable and safe AI is needed to support our overloaded system,” Daniel Nathrath, cofounder and CEO of Ada Health, said in a statement.
“Their expertise will be crucial in driving our initiatives forward, ensuring that Ada Health continues to deliver exceptional value in improving patient outcomes and tackling inefficiencies within the healthcare system.”
THE LARGER TREND
Over the past year, AI-powered healthcare platforms have rapidly grown to address challenges like the COVID-19 pandemic, aging populations, and global health inequality.
Ada’s solution helps healthcare teams save time and resources through features including embedded appointment booking, single sign-on, integration with EHRs, and advanced data insights. It also allows partners to customize the integration to their specific needs.
Over the past few years, Ada has continued to expand its suite of solutions, securing a $90 million Series B funding in 2021 to advance its health assessment technology and partnering with Novartis to enhance disease identification and diagnosis through its care navigation solution.
The company closed its Series B funding round in 2022 with $120 million.