In short
The Healthtech Podcast Episode Summary
Episode Title
422 Declan Kelly from Eolas Medical: The Untold Cost of Knowledge Gaps in Healthcare, and How to Fix Them
Host
Dr. James Somauroo
Guest
Dr. Declan Kelly, Founder of Eolas Medical
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Episode Overview In this episode, Dr. James Somauroo interviews Dr. Declan Kelly about the challenges in healthcare knowledge management and how Eolas Medical addresses these issues. Eolas Medical is a platform that consolidates critical medical information, including guidelines and protocols, to provide clinicians with instant access at the point of care.
Key Concepts and Themes
- Healthcare Knowledge Gaps
- Problem Identification: Clinicians struggle to access relevant knowledge and guidelines quickly while treating patients.
- Statistics: Approximately 2 billion medical decisions are made daily globally, with each clinician making around 100 decisions per day.
- Eolas Medical's Solution
- Platform Features:
- Aggregates essential medical knowledge from trusted sources.
- Facilitates access to both external knowledge (e.g., journal articles, guidelines) and internal knowledge (e.g., hospital-specific policies).
- User Interaction: Clinicians can query the platform to receive specific information needed for patient care.
- The Need for Knowledge Management
- Contextual Significance: Decisions are made in a complex healthcare environment, making it crucial to have accessible, relevant information.
- Study Findings: Significant time spent searching for information can lead to errors and inefficiencies in patient care.
- The Role of Technology
- Tech Evolution: The advent of large language models has simplified knowledge extraction and decision support.
- Future Prospects: Eolas Medical is evolving to include AI-driven natural language querying, enhancing real-time data retrieval capabilities.
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Discussions and Insights
Declan's Background and Journey
- Declan shares his experience as a medical doctor and software engineer, highlighting how the combination of these backgrounds led him to identify and address gaps in healthcare knowledge management.
Problem-Solving Approach
- Emphasizes understanding the problem deeply before creating a technological solution.
- The importance of community and mentorship in navigating the startup landscape.
Healthcare's Future with AI
- Declan discusses the transformative potential of AI in healthcare, particularly in decision support systems.
- The expectation that AI will become integral to clinical decision-making processes.
Regulatory Considerations
- The challenges posed by regulations in developing and deploying AI technologies within healthcare.
- The necessity of balancing innovation with safety and ethical considerations.
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Strategic Insights
- Market Positioning: Eolas Medical aims to become a pivotal player in the healthcare knowledge management space, leveraging unique data sets and partnerships.
- Investment and Growth: Plans for future funding rounds and potential strategies for scaling the platform and possibly acquiring complementary technologies.
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Key Takeaways
- Empowerment through Information: The right tools can significantly reduce the time clinicians spend searching for critical information, thus improving patient care.
- Collaboration is Key: Building trust and partnerships with healthcare institutions is essential for adoption and success.
- AI's Role: As AI technologies mature, there's an increasing expectation among patients and healthcare providers for these tools to be used in clinical settings.
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Conclusion Dr. Declan Kelly's insights into Eolas Medical and the broader landscape of healthcare knowledge management highlight the significant potential for technology to improve clinical decision-making and patient outcomes. The conversation underscores the ongoing evolution of healthcare as it embraces AI, while also navigating the complexities of regulatory frameworks and clinician trust.
For more information about Eolas Medical, visit their website: [Eolas Medical](https://www.eolasmedical.com/)
Connect with Declan on LinkedIn
[Declan Kelly](https://www.linkedin.com/in/declan-kelly-484bb7187/)
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Additional Resources
- For more episodes and insights, visit [The Healthtech Podcast](https://www.thehealthtechpodcast.com/).
- Subscribe to Healthtech Pigeon for the latest updates in health technology: [Healthtech Pigeon](https://www.healthtechpigeon.com/).
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:00Welcome to the Health Tech Podcast. Here we talk about everything healthcare and technology. and I'm your host James Summery.
0:11Declan founder of Olus Medical. How are you sir? It's been a while. Nice to be here James. Thanks so much for having me on. Keeping well. How are things? Well things are good man. Things are good. I can't believe that you've not been on this yet. It's a massive oversight on my part that you've not been on. So looking forward to this man because I know your story but I think there's nitty-gritty in there particularly in your background that I might not actually know. So looking forward to getting into it. And I think where Olus Medical did fit into the world is very different to where it fits in now.
0:45I think you were, I don't know if you feel this as well, but you were ahead of your time because the world has moved on to a place now where what you're talking about and have been doing for a long time, which broadly in knowledge management and decision support has become quite, it's an au fait term, people are fine with it now. And they perhaps didn't used to be when you came up with this idea and did a shed load of work behind the scenes on building the infrastructure. So I think it's a super fascinating time to be chatting to you and to figure out where Olas fits in. But before we move on to that, let's just talk about you and your story.
1:25So where does this all start for you? Where does becoming an entrepreneur fit into your journey have you always been one and why healthcare why olus yeah 100 no and uh yeah of a avid listener of the podcast over the last a number of years you don't have to say that man it's okay no no yeah it's it's it's up there it's up there on the and i know you are because you text me sometimes as well and you're like oh that was a cool episode man thank you and i'm always like oh there's actually people that listen to this that's really nice yeah yeah no exactly no yeah thanks thanks for having me on great great to be here so i can give a quite a bit of a background and an introduction on that side.
1:59So yes, I'm Declan. I'm a medical doctor by background. I worked clinically in the NHS for about five years. I'm also a software engineer as well, and I suppose that's really intrinsic to the story. I think it's the same as most people. It was finding a problem that you faced when you're treating patients that was difficult and frustrating, and I think combining that then with looking at software and how software can solve that type of problem just it was really the the seed that led me down this path and i suppose if i touch very quickly on that problem in general so when you're treating patients it's very difficult to find the information or knowledge that you actually need to to use to treat that patient and we did a bit of research on that initially and we found there there are two billion medical decisions made every single day across the world you know give or take okay um yeah so on average each clinician makes about 100 decisions a day.
2:54And I think that the most important thing about that is none of those decisions are made in a vacuum. They're made in context in a healthcare system, in a hospital, in a pre-hospital environment that is extremely complex, that's patient-specific, and that's hospital and site-specific. You know, like a very, very quick example, STEMI in resus, how do I activate the cath lab? What do I actually do? What antiplatelets should we use in our hospital? so all of that stuff and is really important to know this really resonates with me because i like so many people back in my day did an f3 year where i just locum'd around a and e's in london just picking up whatever shifts i could basically to earn enough money to go traveling then for a few weeks or whatever so great year great time to be doing that stuff but the problem that you've just described was so anxiety inducing for me knowing that you were rocking up to a brand new hospital brand new a and e and not knowing that basic stuff like where do they keep the cannulas where do they how do i send someone to get like all of that stuff is it just used to it used to honestly weigh on me but then i also had it in my own training as well because when you move jobs and you rotate and especially you know the back end of f1 and moving into f2 and the rest of it like you sort of expected to know quite a lot of stuff and you know my first rotation was psychiatry so then when i rotated into my second ever job in medicine it was just so expected that i knew so much of what you've just talked about like how the hospital works that i actually just didn't know because i hadn't done like hadn't done a cannula for three four months and i'd only probably done one in medical school so then i was like utterly fucked so um yeah no i i get it man i get it and it's crazy it's crazy that we um that we existed through that world and now here we are able to solve it but please continue yeah no 100 i think you're you're just kind of expected to know this and pick it up very quickly and and extract that knowledge from other people's heads that have been there and done it and i think to to that point to put a few figures on that of the point that you just made um about in the uk about 45 of doctors are either training or rotating doctors so that means that either every you know four six or 12 months they're moving from one department to a new department that they don't have a clue how to work in and on top of that 15 of staff are now locum staff so you've almost 60 of staff potentially that are moving from one department to another or one hospital and that changes significantly so So what we try to focus on is the internal institutional knowledge that all of those doctors need access to.
5:38And if you think about, kind of frame it through the lens of, okay, as a doctor or a healthcare professional general, you need knowledge from two sources to make decisions. One is external to your institution and one is internal to your institution. The external knowledge is journal articles, national level guidelines, NICE guidelines, medication, knowledge, et cetera. The other one is the institutional knowledge. all of that information about how do I work in this hospital? What can I do and what can I not do? So both of those problems need solved. Now, Ola solves both of them. We aggregate external knowledge and bring that all into the platform.
6:10That is a space that's a really interesting space, but it's ultimately becoming commoditized. And that's a good thing because the barrier to accessing knowledge and medical knowledge should be lower and lower. The more people that can access it, the better it is for patients. So you have now companies in the US like Open Evidence, who now license JAMA and New England Journal of Medicine, etc. They train a fine-tune model on that and give access to that. You have about 100 YC companies doing that in the external knowledge space. OpenAI, Sam Altman is 100 % making deals with JAMA and New England Journal of Medicine to get that.
6:41So doctors are going to be able to get that external knowledge from anywhere, which is really important. So that's ultimately table stakes. Now, what they can't access is the internal knowledge for their institution. In this hospital, for this patient in front of me, how do I actually treat them? and that's what Olus hyper focuses on. It's the knowledge that doesn't exist anywhere else and therefore will only exist in one single solo location. And I think, you know, back to your original point of we're ahead of the time, thanks very much for that, but I think we were more focused on this is a problem that we have, let's solve this problem.
7:15I think the big shift that's happened obviously is a technology shift. It's become much easier to solve that problem and much easier to reduce time to insight. And that's what large language models have done. Historically, we launched this before large language models came into the mainstream. And we were looking at graph databases and we were looking at the ability to extract knowledge from all of these complex flow charts and diagrams and documents and how do we represent them graphically so that a user can ask a question semantically and get an answer very, very quickly. And you're trying to represent knowledge.
7:50you're trying to re-represent it in a way that's not in its original form so the original form is text that's that's the ubiquitous way of how humans have represented knowledge historically the problem is trying to convert that text to machine readable format has been impossible up until 2022 that's the fundamental shift that has now happened the the ability to to build and distribute that knowledge in a way that's actually safe and effective is is now really taking hold And I suppose that's why this has been brought into the fore. But this is an area people have been working on for decades. And it's becoming more important, isn't it?
8:24Because I think we're going from a world where you wouldn't necessarily instinctively trust the signal, the output from such a process. We're now moving into a world where there's no choice but to trust it because of the fact we're using this stuff in all aspects of our lives. and it's the direction of travel isn't it that clearly we're so used to using this everywhere else that it's going to be used it's sort of like the whatsapp conversation isn't it like look it's going to be used we're just going to have to find a way and then the companies pop up to try and find a way to do it sort of similar in that kind of knowledge support using large language models like ultimately this has to be done right it's going to happen anyway um i'm interested though man like going back a bit earlier in your journey were you a software engineer first or a medic first what what was first for you yeah so medic first so i i did a lot of coding and engineering during a school so in high school actually so i i built things on the side and why what how did you get into that uh so i suppose i always liked um i like the hardware aspect as well as the software so i used to always like taking laptops apart yeah and building them back together and oh there's always pieces left over and but that you know was the fun of it more than anything um and a i was always just i think it's just from an engineering point of view and a problem solving point of view it's just like a big puzzle regardless of its hardware or software um and it's it's quite addictive as well uh you know coding and building things and seeing things something go from a blank screen to something that's able to solve a problem is it's really enjoyable it gets you into a flow state and so i've always kind of had that they're always really interested in that um but ultimately didn't do computer science went down the medicine route graduated uh worked clinically uh for about five years mostly in emergency medicine and it was always coding on the side though building different different things um just uh just to keep the interest kind of alive i very much was you know hurtling down the path i wanted to do um dual training so i was in emergency medicine training and i wanted to do dual training in icu and i really loved the medicine aspect and it was only really when i started coding a platform for our own hospital to solve this problem that we were chatting about and within about six months the platform that i'd built was used in 28 hospitals including stanford and a few others so it was kind of at that point realized actually this is a pretty ubiquitous problem people are people are finding this as an issue so because it started scaling to other sites i had to reduce my time down to you know half time clinical half time in the business yeah and then uh and then i had to jump in full-time to continue scaling that so i suppose that that that was the the kind of origins of it i have um quite a specific question now around the practicalities of that scaling and how you then turn into a business or were you giving it away and i'll give you a bit of a case study here so vibe coding is now a thing people can go on lovable they can go on others they can build something like they can have an idea to what you're talking about they don't necessarily need to be a software engineer that's quite an exciting time and let's put security concerns and other things away for a second but someone who was previously a medic that could only spot problems because they weren't a software engineer can now kind of build it and go well now I've got an actual working prototype MVP it's kind of working it can do a thing and I guess that's the position that you were in initially now were you coding that for the hospital you were in for any kind of commercial reason because other people could be doing the same now and they could be thinking like well how do I turn this into a business do I charge my hospital for this do I use my hospital to check that it's working and maybe charge the next person or how do I even do that how how would that work with my medical training and salary and like all that sort of stuff so what can you just like zoom in on that bit for me when you did it and what was going on in your mind and what was maybe difficult or not difficult about that based on I imagine at some point you had very little business knowledge and now you have a lot so yeah what was that bit of the journey like for you because again the reason I ask is I think there's probably a lot of people in this boat increasingly because of things like vibe coding yeah 100 so so much to dive in there sorry quite a big question no no because a lot of a lot of really interesting trends that are happening so i think fundamentally bringing it right back fundamentally you have to start with the problem and and you have to have a really really deep understanding of what's the problem you're solving who are you solving it for and then if you want to think from a commercial or business lens how big is that problem you know how many people does it affect and and uh how big a pain point is it from a time money or patient safety issue essentially and um i think that's really really important that's the starting point because technology trends will come and go technologies will evolve and they'll move and they'll shift and they'll change yes it's definitely easier to build but it's it's it's irrelevant what you build if it doesn't solve a problem and you can actually prove that that problem is actually solved so i think that's the thing that um that's i think i think that all of the noise currently in the space is at risk of getting lost because just because you can build something now within an hour doesn't mean you should build it and you need to actually understand what the problem is that you're solving because as you said it hasn't been a hasn't been easier ever to to build an app and i think that's getting better and better and initially you know the last year or two they weren't that great and now that Lovable has launched their backend service.
14:06It's getting a lot better. So you can kind of start to see where a full stack application comes. There's a lot of other skills needed to build a full stack application with regards to obsessing with the problems, being product focused, and then in a healthcare environment, understanding how all of that tech works and proving how that tech works after you've kind of built it. I think we're a very long way away from a vibe coded product in healthcare being used in production across multiple sites. I think we're a very long way away from that. which is it's good that healthcare technology is a double-edged sword.
14:37It's very, very hard to get in, but once you're in and you prove the value and use case, then you become very sticky. And the reason for that is, you know, I think you've covered loads of times in the show and other people have covered it. You know, you have the patient safety issue, you have the cybersecurity issue, you have all of these issues. And what it's very good for is testing an hypothesis of the problem that you want to solve. That's really what it's good for. So how you would test this hypothesis five years ago is you either code it up yourself or you put a slide deck together. you talk to your clinical director or the director of the hospital and say hey here's a big problem I think here's how big I think it is you know what do you think I should do a project in this or I should develop something out etc and then you have to convince someone with a PowerPoint presentation it's much easier to convince someone if you show them something and if it's just as quick to show them a MVP than it is to put a slide deck together then then the barrier to convincing someone is much much lower that's only the first step you then have to do everything else on top of that.
15:31And where the tools are right now, you probably have to bring in people to ensure that they're safe from a cyber security point of view, that they're safe from a clinical safety point of view, et cetera. So we're a long way away from jumping from that MVP to that actual product that gets deployed in healthcare. So yeah, in summary, I would say obsess about the problem and think about what technology you use to solve the problem after you're very confident that that problem needs solved. So when you did this, did you initially build it for your hospital with a business in mind or did that become apparent once it had moved places for free didn't build it with a business in mind uh initially so i built it just to solve a problem and then a hospital you know down the road wanted it as well and and a then the i started charging a small amount ultimately to cover costs at that stage i was still very much like you know this is the path i'm on and going down this path from a cleaning training and clinical point of view um and it was only when it started getting more departments and we saw the opportunity and the the the kind of bigger problem needed to be solved it was like okay well how does this scale how do we solve this problem for as many people in the world as as as possible and i think uh yeah i think that's that's when we started uh wrapping a business around it.
16:51I suppose I got lucky in a way in the fact that the very, very first thing I did was join an accelerator. So I know you've led and helped digital health accelerators before, and there's a lot of them. This was a vertical agnostic business accelerator that was based in Belfast. And so it was run by Invest and I and the team there were sensational. So I jumped in with very little business knowledge. And within the space of three months, we're able to, you know upscale on scaling products a raising venture capital how to build a team etc so all of those things and I think that was really important to set me down that path because if I jumped in too early I would have made a lot more mistakes and so I think find a community is the thing that I would say because you have so many unknown unknowns and just immerse yourself in that community as quickly as possible at as early as possible is the key and I think people are generally very helpful and people like to see other people coming through with ideas and if someone's seen it and done it like like even me now looking back over the last four years or so i'm you know a very i mentor a lot of people i'm very very happy to jump on calls with people and so that you know i don't make the same mistakes that i do also specifically in the healthcare space i really like doing this because i think the more competition that enters this space the more people that are building the more clinicians and healthcare professionals in general that are building the better the entire ecosystem becomes the more problems that we're able to solve for for patients and and for for healthcare professionals so it's only a good thing the more people that are entering this space and building but they have to do it in a proper way or else they'll stumble and they'll fall and they have to engage with the with the right parties to do it in the right way so um yeah a find a community would be the would be the big the timeline of that's really nice because you built something of value you got so many signals from the market it had value and you were learning at the time then I think the thing worth pulling out here is about accelerators just very briefly for people and I've covered this a lot but when you're picking an accelerator you have to just find one that's going to give you what you need not every accelerator is going to be a fit for everyone and accelerators get a very bad name I think because of this quite a lot that people go in with certain expectations and they're not met because they're so unique and i think for someone that doesn't have business knowledge and is looking for that kind of earlier stage stuff there's accelerators for that if you're looking specifically for market market access there's stuff for that if you're looking for a co-founder there's stuff for that so it's it's finding and mapping what you want from those support mechanisms rather than just hoping that generically applying for a load of stuff looks great for you and you're more likely to get investment it doesn't really work like that but what my next question mate is what was the product at that point the what the the product that you initially built and when did you build it when was this 2020 when i had that initial product launched the very like very first mvp into the hospital system so it was i was still working clinically it was still very very early stages um and the very initial iteration of this product was in our department how do we manage all of our you know policies protocols our internal tacit knowledge and you know i have a someone has a dbt when do i get them for their ultrasound again you know is it two days is it is it seven days etc you know all of that stuff that you just need very quick access to and what was the front end of that what how was that accessed by people what did it actually look and feel like yeah so mobile and desktop and platforms so 70 of users are mobile the rest are desktop most of it was was mobile and then there's the admin side there's there's the there's a content management side where all of the admins would add all the content and so there was it was it was the two aspects yeah so i coded it up in java for android for any any years i've seen and that was a mistake but it was it was a why was that mistake java is just an awful language and it's just horrible to work with and they probably should have chosen a an agnostic platform so so why did Did you choose Java?
21:00Because I chose, I did the iOS first. So I chose Swift for iOS and built in that. And then because I didn't use a cross-platform language initially, I had to use a native language for the Android. So I had to choose either Java or Kotlin and then I chose Java. It was like six months to build the whole thing and it was torture, but it was good for Linux. And then once I actually raised some venture capital money and hired engineers who are much better than me and know what they're doing, they're like, why don't we just build this using React Native and across platforms. So we shifted over to JavaScript and use React Native now.
21:35But yeah, I think a bit of background for coding and Java is a good thing to teach you the right principles as well. Nice. Okay, so walk me through the journey next then. So 28 hospitals, you said it's scaled to. Where does the investment come in and where does the scale of the company go in that story? So I suppose there was a window there in which I was developing COVID-related tools as well. So I was helping to see if we could triage patients faster. So I took in all of their SATs and their vitals and everything and then tried to predict would they end up being admitted, would they end up going to ICU, or could they be safely discharged, et cetera.
22:18So I built this whole prototype. That was a very good learning, a good lesson, because it got to the point where it was like, hey, if you're building a clinical decision support tool that manages patient data, it's very, very difficult to get into hospital very, very quickly. So that was a very good learning point. So we never actually went live with that. And I spent about four or five months during that building and working with some of the emergency departments to do that. But it was still very useful from an exercise from that point of view and learning all of the inputs that need to go into a clinical decision support system, as well as what does regulation look like.
22:49And then all of the inputs that need to go into what does a patient data system need to have from a cybersecurity side of things. but yes but ultimately we almost went live in an emergency department but we didn't actually didn't actually use it so there was a window there and where I was just doing the COVID side of things so it was 2021 and all of the hospitals were still using the platform and at that point I was on the accelerator and and a we made the decision with some of the mentors that this is probably a venture-backable company and you know there's as I said that you know billions of decisions made every day there's about 50 million healthcare professionals globally making these decisions and they can't access the information that they need and and a there's a model here for building a billion dollar business so a we raised venture capital in a 2021 so june of 21 so it was just myself there was no one else in the team at that stage we did a round of a 2.5 million as a pre-seed round as a pre-seed wow as a pre-seed round so this is this is nothing to do with me this is 2021 i was gonna say what a time to be raising money man honestly so And I think as a double-edged sword, I think valuations were far too high at that stage.
23:57It was far too much hype. People are getting money shoved down their throats inappropriately, me being one of them. But I think it's important as well to learn how to be capital efficient from that. And we've learned a lot of lessons from that as well. But yeah, so it was just myself, raised 2.5, and then ultimately hired an engineering team that were, as I said, much better than me at the engineering side of things. So, um, rebuild the product and added lots of features and then launched it officially in 2022. So April 2022 was the official launch date. Um, and the last three years we've scaled it from those 28 sites to over 500.
24:34Um, so 500 sites using it, 85 % of acute NHS hospitals using the platform. And then there's 40 ,000 users in the US across places like Stanford, Mass General, Boston Children's, a number of others. So it started to scale very well. and it's been used millions of times for months and really solving problems around multiple countries, which is great. And we've really enhanced a lot of the features and the functionality as well, riding that technology wave as such. So obviously this was pretty large language models initially when we were gathering the data. Over the last number of years, we've amassed an enormous amount of a unique data set in the form of institutional knowledge.
25:11And we're now able to ultimately build a model that allows natural language querying of that, of that, all of that data in a specific hospital. And we're doing some really exciting things to that. So we use computer vision and a technique called a genetic document extraction. And the reason why we do that is you imagine about 30 % of all of these, of this internal information is in visual context. So it's flow charts. So you imagine that your consultant sitting down, you're anesthetic. So, you know, they sit down and they say, you know, this is the malignant hypertension protocol. And they put a box here.
25:44and then they say, if this happens, do this, and they put a box here and they put a box here. If you try uploading that to a traditional large language model, it comes up with some very interesting answers that are not right. Quite dangerous. Yeah, quite dangerous, exactly, yeah. So we use Computer Vision to extract that so it all stays in context and then build a full RAG-based search pipeline on top of that so you're able to get an answer that's visually grounded every single time. And that's what we've launched, and that's called Ask Olus. So we're quite excited about that as well. So yeah, it's been a very exciting trajectory over the last couple of years.
26:17It's an unbelievable amount of scale. But as you say, it's an unbelievable size of problem. It affects absolutely everyone that wants to make a clinical decision because everyone can just feel a bit better knowing that they have the right information for local guidelines and local protocols and things. what do you think leads to that level of scale and problem solving is it purely the fact well is it that what metrics are you driving for people is it that people are quicker is it that there's less mistakes and less litigation is it that staff are happier because globally different healthcare systems will value different things and like we talk about a lot on here obviously the nhs is is ultimately cost what do we save other for other health care systems globally it's litigation being a big thing i think in places like the us and you know wanting to make make money and have incentive for staff who can vote with their feet which they can't do in the uk they're just told where to go so there's lots of different incentives here in different health care systems so how do you navigate that globally and why why is this scaling so well is it that it's solving all of those problems in which case what are they yeah yeah great question so i think the general answers are um cheaper better faster and how do you measure each the triple yeah yeah the triple yeah and what is and what is better i mean so a few things we've proven so we've proven that it's nine times faster um than current systems and current systems generally are you know intranet based systems or no system at all a where this knowledge doesn't exist and so So that ultimately is a 90 % reduction in doctors' time searching for information.
28:07So there's a few studies done. Doctors spend about 65 hours per year just searching for this internal information. So their internal institutional knowledge, their clinical guidelines, policy, protocols, etc. And if you zoom that out and calculate what that cost is the healthcare system, it's roughly around$2 to$5 million per healthcare system or per hospital per year of what that actually costs. and if you calculate the amount of hours it's thousands of hours spent just searching for this information all of that knowledge should be seamlessly embedded accessible at the point of care within seconds and it's not and that's the problem we solve so we're able to show a 90 % reduction in time spent searching for information and there's been multiple studies showing that another point to that as well is there's a few studies showing that failure to find information so there's one study that we did it was a case study that in over 20 % of cases, doctors couldn't find the out-of-hospital cardiac arrest protocol when they were tasked to go find it.
29:08So one in five couldn't actually find one of the most urgent protocols that you need to access, and that shouldn't happen. So there's that aspect of efficiency. The other big aspect is governance. So we index all of the policies, procedures, internal guidelines, and we have a full analytics dashboard for that that we give back to the hospital system as a whole. So what we're able to say to the hospital is this is what everyone's searching for. These are the knowledge gaps. Here's where you don't have policies, procedures, guidelines. And this is the search behavior over time. Here's your training needs that might need to be hit.
29:41It increases the usage of those protocols that we've shown as well. So increasing the use of evidence-based medicine decreases medical error, increases the quality of care patients can get. So you reduce variability of the care. as well as that in the downstream effects. If you're this way inclined as a hospital, which a lot of hospitals are as well, which decreases litigation. So if more people are using the same hymn sheet as such, you have less variability and less risk for litigation as well. And we're able to prove all of that with regards to the analytics and the insights. We can show exactly who searched for which item at which stage and which time.
30:17And those insights are extremely valuable and extremely useful. So they're really the two pillars. Governance is one and the time and efficiency saving is the other. It makes me think about your product slightly differently actually because what you're talking about is sort of moving from being a service to actually being a partner that helps them improve what they're doing and fill in gaps. That's the difference. You're not just, oh buy this thing and it allows your staff to search for stuff, there might be some things downstream. That bit that you mentioned in the middle of that story about you're feeding back the gaps in the knowledge because people are searching for this thing a lot more or whatever it is you're giving real insight back into that entire organization for them to improve in a much deeper way which turns you from a in my mind that sort of turns you from a service into a partner but you're kind of aligned with wanting the organization to improve there's something about that mate that's like for me it i i want health tech companies to do this sort of thing and find incentives to be invested in the improvement of what we're all doing more i think with you know things like vibe coding and just attention span and all the rest of it everyone's looking for shortcuts in things about how do i build this sass product that i just sell at 99 gross margins and make loads of money and it doesn't work in healthcare that that approach that ethos just doesn't work I think where you've clearly got to as a point of going we can we will have to sacrifice some margin here in order to do various things but that makes us a better partner it makes us a better business if we can do these things that perhaps aren't as scalable or are a bit more messy and I think that's important because clearly what you've not done is just gone, I want a SaaS product, I want to copy and paste, and I want to sell this on a subscription model and game over.
32:20I'm going to buy my yacht in X amount of years if all this goes well. It's a lot more difficult than that in healthcare, right? So how did you get to that point? And I don't know, like, is it difficult to go in and solve those problems? Is that why nobody presents as a false solution to a problem very often? and it often is these parts of problems being solved by bits of tech it seems like you're solving more of a whole problem so like can you talk to that a little bit ultimately what it boils down to is trust and trust it takes time and it takes an understanding of the people that you're working with and what their aims are and what they want to achieve with a piece of technology or a piece of software or a service and building a trust over time that you genuinely want to solve that problem for them and that you don't just see them as an as another customer that you can sell to and um that's built out in lots of different ways a and this ties into the vibe code and everything else and the reason when i when i first started um the company i think one of the principles was okay how can we look at every other industry that has you know a really advanced product for everything it's moved extremely fast it's adopted technology at scale rapidly and it's created multi-trillion dollar industries.
33:34Why has that not happened in healthcare? You know, Google made a better EHR than Epic and it was killed. You know, why does this happen in healthcare? That's really frustrating. That's really annoying. The more you kind of learn, the more you realize, okay, why healthcare does move slowly. And I think the default answer is, you know, because it's dealing with people's lives, et cetera. But, you know, aviation deals with people's lives. And, you know, lots of other industries deal with lots of people's lives. And so I think that that's not only the case. It's the case of, it's a very, very complex system with lots of different stakeholders along a chain.
34:04And if you only focus on solving one individual problem for one stakeholder in that entire chain, most likely that problem might be in conflict with another problem that someone higher up the chain wants to solve or how they have to solve it. So I think there's a larger aspect of you need to be able to solve a problem fast, but you also need to be able to see the system as a whole and how your solution interacts with that entire system as a whole and what is the actual true direction of that system as a whole. and as well as that build trust and while you do that, you know, prove the clinical safety out of it, engage with the regulators as and when you need to, if your product needs regulation.
34:38So building all of that trust is really, really important. But I would say having a good visibility of where you fit in in the system as a whole. We chatted, before we jumped on here, we chatted about main character syndrome and I think people that, you know, want to build a product say, you know, I'm going to completely change the world and this product is going to change the world forever. and yes products do that and technology is deflationary and it lowers the cost of care increases the excess etc all of that but it's one product in in a suite of everything else that's happening in a complex healthcare ecosystem and you can't be arrogant enough to think that your solution is going to be the absolute pinnacle and the solution to all of healthcare's problems it's going to be a solution and a problem but you have to understand where that fits in with everyone else's problem and solution as well and and i think that's i think being sensible and being pragmatic and understanding that is a really important part of the journey.
35:30And yeah, I would say that's a decent answer. There's a Japanese phrase that is lost to me now, but it's something basically like the beginner mind has the most open mind. As in, once you start, the possibilities are absolutely endless, but there's a naivety with that mindset. And healthcare is a perfect example of that's not what's going to happen in the real world. there's too many moving parts and there's too many stakeholders and it's too complex so you have to define the problem and understand where that problem fits in in the wider problem set of healthcare in general and so yeah that's a very long-winded answer to say find out where you fit in the wider ecosystem how did you build that trust initially with people is it because you worked in the hospital where you were trying to solve the problem so that the trust was already there and and how and how did that scale did you have to go in as a human being and build that trust yourself before people trusted the product yeah so i think i think being a clinician definitely helps being a clinician is a double-edged sword and in this especially at the early stages of the company one aspect is okay this is a doctor they've experienced a problem they've developed a solution and 28 hospitals using it okay this there's maybe something here we have this problem too so they trust the social proof they trust that you've experienced the problem and they like the fact that a doctor's solving that problem the flip side of that is okay you're a doctor that worked in the NHS for five years, what do you know about running a business or commercial or scale or product or technology?
36:53And you have to be able to then prove that out as quickly as possible. The only way you really prove that is solve that person's problem. And once you prove you can solve that person's problem, more people see that and get that social proof. I would say that, you know, if anyone's starting on the start of that journey, have a look at the innovators adoption curve or the technology adoption curve. You know, you want to get the innovators, you want to get the early adopters you want to identify how to cross the chasm to the early majority and then the late majority but it's hyper focusing on those people that are going to get the social proof and that's what builds trust and you know the initial trust is yeah your clinician the second bit trust is okay yeah lots of hospitals then trust this and then that allows you to cross the chasm into into the wider the wider kind of community i just want to tell a quick story about how i really craved this what you're talking about because i can remember when i was in a and e i was on a shift i can literally picture this because it still haunts me um i saw a guy who had a swollen arm it looked like he had an insect bite he was gardening and he got some sort of bite on the forearm and he was getting really quick spreading redness heat all the classic stuff of you know like a quite fast spreading cellulitis obviously for people that aren't medical um it's like an infection under the skin um and the one the one thing you're always taught in medicine is to be careful of neck fasciitis that's the one thing when you see anything like this always has to be on your mind you've got to rule this out so if it's rapid spreading if it's all these different criteria of what would meet it um then it really activates something i was giving advice that it wasn't that um and i'd written in the notes that it was rapid and i'd drawn it and i timed like how fast and i'd written these things like giving advice okay like i'm not i'm still not sure so immediately i'm like now i need like can i just have like a list of things i can tick off and put in the put in here to go like okay I think this is because and you know I can do that to some extent but for whatever reason when I took advice that wasn't the case um but then I was asked to draw up a load of I was asked to find out actually I was asked to find out how to discharge this person with IV antibiotics and then someone to go and visit them at home in order to check it and you know like a district nurse to check it and all these things and it was an A &E I was not au fait with I wasn't I didn't work in this A &E.
39:27So now I've got this, I've got loads of problems now. I'm worried for me. I'm worried for the patient. I've got to do this thing that I'm not sure about how to do it. And there was so much about how they wanted this specifically, they do this thing here where you can be discharged with antibiotics and a district nurse will go and see you. Well, I haven't got a clue about that. I don't, I don't know how to set that up here. I don't know anything about it. And I'm trying to ask people and it's a really busy A &E shift. I'm a locum there, so they need locum support so they're not well staffed anyway anyone that i can really ask about this problem is tied up and so i'm i just feel so alone i feel so lost i feel so i'm still so junior man like i'm i'm two years into my medical career like i i just feel lost in this moment that i've not got the information to to work with and i can feel almost like a physical weight on my chest that there is risk all over the place here and i just feel awful and if this could have taken that away i would be eternally grateful to to them if they were to buy this because i know that there are clinicians every single day that are listening that will feel something along those lines so in your model i guess i can just free text ask a question hey what do i do i've been asked to discharge this person with ivy antibiotics and something about a district nurse how do i set this up and it just returns me the answer yeah exactly so i think the a the big problem is not knowing where a policy is i think if you think i'm going to go to sharepoint or in and trying to do we even have a policy where do i even go you're searching through all of these files and folders etc so you either do have a policy and you can't find it or you don't have a policy at all and how we help with both those scenarios is you literally just take the phone out or go to the desktop ask the question get an answer and it says yeah here's the policy this is the pathway this is exactly what you do right and if you don't have the answers to that either from a tacit knowledge point of view or uh or an official codified knowledge and i can chat about the difference between those two.
41:37That query will then be fed back to the leader of the department as well as the hospital's leaders as well to show here are the queries that are happening every single week, every day, every month. And we then can aggregate those queries into common themes. People are constantly searching about OPAT or outpatient antibiotic therapy. Why do they not know that we have this service? This is how this actually works. We should probably put something on the platform about that so they can get that information. um the some of the time a lot of the time this information might not actually exist so it might not be codified into a policy or procedure guideline or etc so what we also do is allow crowdsourcing of tacit knowledge so tacit knowledge is in you know the fact of it's friday it's 7 p.m the radiologist is away home how do i get the an mri spine i think this is called oh this is so real yeah i love this okay so how do you get that generally you then find so one of your colleagues that knows that answer you ask one they don't really know one colleague might know and they go this is what you do so in the app we collect that information as well so you can just ask a question you know how do i get a scan hey you know here's an answer that was given and of you're able to do that so it's the two types of internal knowledge that are either tacit all of that kind of nitty-gritty wiki type knowledge that only people have in their heads as well as in the official knowledge that exists and so that's kind of how we solve that problem across across that spectrum.
43:01The really powerful thing that we're super excited about is the democratization and access to that content for new sites that sign up. What we're creating is network effects on the platform where when a new department signs up, it becomes more valuable to the next department that signs up. And how we actually do that is we're building a feature that allows, once you sign up when you live in empty space, you'll be able to scan your policies and say, hey, here's the gaps in your policies based on what multiple other sites think is the best. And we can also then sync that with nice guidelines, national guidelines and say, here's what the national policies are as well.
43:37Fill in these and then automatically do that. You know, five years ago, that was a manual task that needed permissions. Now that's a perfect use case for generative AI with a human in the loop to approve or disapprove. So there's so much potential then downstream of this to be able to ensure everyone can access that when they need it. it's funny where we are with ai and healthcare because what you're talking about in terms of knowledge management decision support decision support goes very wide um but knowledge management specifically it's kind of it's a it's a late presentation of what ai can do when you consider that we started with the radiology stuff with ambient we've had the ambient scribe stuff where do you think we are broadly with AI and our comfort in healthcare and where do you think we're going to be in the near future particularly around obviously the area that you're involved in and again the reason I ask the question is because I think it's important that we as the health tech community don't use a generic term like AI and just build assumptions around it there are distinctive types of AI we've had eras of AI doing specific things and different things that we should be comfortable in differentiating so I'm interested in how you see the world where Olus fits in and where we as a health tech community and Olus specifically might be moving when it comes to AI and feel free to be quite specific in your terminology.
45:16oh 100 i think it's a great question and i think um generally there's a pattern and there is a new technology and there's a technology shift then there's a disruption where everyone's freaking out in their minds then there is the phase of a and this is such a nerdy answer no one's going to get this reference but there's the phase of the board is set the pieces are moving this is a a Gandalf quote from the other rings. And then there's the adoption phase of that software. So if I use a few different examples here, so if we look at each of the kind of waves of AI that's coming and really made a difference in healthcare, the first big one is visual-based AI, so convolutional neural networks for radiology.
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46:02So detecting fractures, detecting stroke, that's probably the two biggest ones, but there's lots of other use cases. there's a fairly ubiquitous adoption of stroke detecting technologies using AI in the NHS and most other healthcare systems now you know vis.ai was one of the big early ones in the US and but there's now lots of systems that do that and for anyone that maybe hasn't or doesn't understand the context they and in general they'll be able to detect a bleed or an ischemic stroke very very quickly they'll flag it to the radiologist and the emergency department depending on what the operating procedure is and that flags a lot earlier so time to clot retrieval is much much lower so patients benefit so brilliant use case perfectly done so if we imagine okay convolutional alex net happens um convolutional neural nets hit hit the hit the hit the world lots of other industries are using it like you know self-driving cars etc healthcare is like oh we can use this too and then it's like oh we're going to use ai to diagnose a stroke uh emotional reaction world loses its mind no that can never happen we're not using this this is too unsafe here's everything that's going to go wrong you know data really important reaction it's really important to see where these can go wrong and where they'll actually work.
47:08What happens then is everyone starts to understand the technology. Everyone starts to have some aspect of using it to an extent. And then it starts to get regulated to an extent as well. Depending on the geography, that happens at different paces. And it then gets a clearer picture. And two things happen. One, the technology accelerates to how good it is. And then it kind of plateaus. and that's where then it gets better and better and better every year. But people get a sense of, okay, what this can do and what it's going to be able to do in a year or two. Once it explodes onto the scene, everyone's like, wow, what's this going to do in five years if it's doing this now?
47:47You know, this is going to change the world forever. And it's like, no, it's going to change this small aspect of the world forever. And it's not going to change the world forever. And this is how it's going to work. So regulators regulate it. Companies, the market answers. Companies are spun up. They know how to use it. They use it. they engage with the regulators in an appropriate way, they prove out the clinical safety and efficacy, they launch the platform, they prove the economics of it, and then it goes live. Brilliant, that's great. Same thing that happened with Ambien listeners. So you have then this new wave, so large language models hit the scene, transformers, based on the same underlying architecture, ultimately when you bound down to put us new transformers, everybody loses their mind.
48:22This is artificial general intelligence. This is going to be horrible. Healthcare can never adopt it. It's going to take all of our jobs. is it sentient and then exactly is it sentient i've said all of this by the way i've said all of this on here so very willing to take the make out myself here for very much riding these waves yeah yeah i know it's really important as well to come up with excitement because they do solve big problems but so it goes on to the scene and you know 2022 2023 it was like how do we even build using this like if i build a model now or if i build a rag based search or what i do is there going to be a new model tomorrow that comes out and just completely destroys this business model or completely destroys this product but now what we're seeing is this kind of plateauing, the models are getting better and better but there's not this exponential shift and so that's what I mean is now the board is set and the pieces on the board are moving so what it allows you to do is actually now play a game, okay what's the game, how do we solve a problem with this, how do we regulate this, how do we get this into the hands of people safely so over the last year or two no one's going to use this no one's going to use voice ai because it's too unsafe whatever hallucinates that prove out the clinical safety engage with the regulators in the uk in the case you know this is either going to be a class one it is now a class one that probably will start to move down to class two and then hospitals are like wait a minute this will improve a lot of our efficiency etc etc etc let's build this out large language models will not get us artificial general intelligence that's that's that's not going to happen and we will get a gi at some stage they will be a part of it.
49:54There will be a shift. If we're still using transformers in five years' time, we'd probably fail as a species that innovate and do something different. So that's kind of where we are. Part of the subset of the wave of the same technology, i.e. the transformer, is decision support. So one is the aspect of capturing the patient note and then being able to streamline access that, which improves efficiency. The other is the aspect of how do we then take that note, query a trusted knowledge base, whether it's internal or external, and then send back for that patient in that context this is the next best step that you should do based on your policies procedures and guidelines so that that's the next phase of this and ambience are some of them are building themselves some of them are trying to capture data some of their partnering etc etc so that that's really the next phase and mhra are going to come out they're going to regulate that space too that any sort of ai answer engine so we had you know ai for radiology we have ai for voice now we have ai answer engines it's probably the best terminology for them yeah and So Open Evidence, Doximity's, Bot Pathway.
50:52You have a number of them here in the UK, including Olus. Ours is called Ask Olus. So they're, you know, AI Answer Engines is probably the best name for them. But the market hasn't really named them properly yet. And, you know, AVT was named AVT now, or Ambient Voice. But there will be a name for the Answer Engines. And that'll be regulated. I think they'll probably come out and say, okay, this minimum has to be a class one, like initially, just to try to get ahead of it. and then they'll definitely say this is a class two year class a or either a or b i think to have true impact at the point of care you have to engage with that side of it you have to prove the clinical safety and you have to get it regulated because ultimately what you want to do is out of those two billion medical decisions for every patient how many of them have the world's medical knowledge queried in real time so that it was an informed decision and to do that it has to to be it has to be safe and regulated so that's kind of the patterns that that we kind of come through and and a i think we're now in a very interesting space where we have a window to be able to build something really big and meaningful and and there'll be a lot of noise and there'll be continuing a lot of noise when's the last time you heard noise about convolutional neural networks for stroke detection you know but they're every single day are making difference in patient lives and but it was a very noisy space years ago and so the same thing will happen with this space people will get bored of talking about ambient listeners and answer engines and it'll all move on and there'll be a next thing and that's important that's that's it's it allows better care faster care safer care um and uh yeah it's that's a very long-winded answer but um one i'm sticking with it's amazing to interview that because i've written six questions down in the time you've been talking you've answered all of them um so i actually don't need to i actually don't need to ask many questions i can only pop up every quarter of an hour so it's amazing um perfect interviewee one thing i was going to ask you about actually is your vision for healthcare now i think it's really interesting what you say that what you're doing answer engine might move from class one to class two and baked into that is obviously this movement from asking a question it presenting that as an answer and then the clinician being responsible for the cognition involved in contextualizing that and adding it to the information they already have what's in front of them all that stuff what you're talking about and it's funny how you're coming at it from this way and lots of other companies and lots of other areas of health tech will come at it from another way but moving into this very much decision support to decision making based on the availability of information and that's obviously the promise that ai has given us which is hey we just need the data it can be crunched in this model and then you can just get the right answer the most evidence-based answer the most this the most that so i'm interested then because you're a clinician what do you think healthcare looks like with all of this what is your version of of perfect healthcare a perfect consultation the perfect setup like where you I just wonder if you thought about where this extrapolates to based on what you're doing what is the kind of utopia based on what you're doing is it freeing humans up more thing we hear all the time is it perfect perfect decision making so that everyone gets the right diagnosis and the right treatment is it a mixture of all of that stuff where where does this go and what do things look like i think it depends on the time frame is the is the answer and it a you said something on this podcast before i can't remember who you're talking with what what we haven't done as a society and and most geographies i don't think any geographies done this we haven't sat down and collectively described what does good look like you know in we've done you know we've done a 10-year plan and we say we're going to adopt all these technologies etc and every health system has done to an extent and they all compete in priorities but it's no one has set down to align a vision of what this actually looks like um with regards to kind of what what should healthcare look like i think the way i kind of think about this is let's zoom out okay in a thousand years time are you going to go to your doctor and see i see a doctor is there going to be an ai you know okay i think 99 of people will agree it's going to be an AI.
55:19In 100 years time, is it going to be an AI? In 50 years time, is it going to be an AI? So when you start to kind of bring that in, at what point is it an AI and is not a doctor? So that's kind of one point. The other point is there will always be doctors. 4 ,000 years ago, there was doctors. In 4 ,000 years, there will be doctors. I think one of the fundamental things is humans want to be treated by other humans in whatever shape or form that that takes. And they're never going to be able to get a holistic treatment of that person if it's not a human involved. Now, that human might provide multiple different parts.
55:58That could be, you know, in 100 years' time in your house, there is, you know, the Elizabeth Holmes blood testing machine, there's some sort of scanner, et cetera, et cetera, et cetera. And the person that's doing the human part could be your partner. And they're forming that part or it could be something that's done in a different way. I think the way medicine is practiced is changing, but there always is a human in the loop and I think there always will be a human in the loop. It's just what that looks like and what time frame that you're talking about. I think if you're talking at a very short and immediate time frame with regards to technologies that are available to us, I think it's very, very conceivable in the next five years, if we look at those two billion medical decisions that are made, that if you go and see a doctor in a primary care physician or if you're in the emergency room or if you're in theater, that consultation will be automatically collected and it will query a knowledge base, world's medical knowledge because doctors and nurses and pharmacists shouldn't be expected to hold this knowledge in their heads.
56:53It will automatically give decision support in real time, context specific for that patient, probably based on the patient's genetics, their blood tests, everything else about that patient. And then it will help and act as a proper true co-pilot and it will more and more get autonomy and make decisions and the doctor will feed those decisions back to the patient. So I think that's what's happening in the next you know five to twenty years as such and it will happen at various different pace i'm inclined to agree and one thing that i've started to notice about our internal use of ai at somex or the way that i talk to my friends about how how they use it in their careers in law in loads of civil servants like there are so many people now that consider ai this co-pilot to knowledge and decision making that i almost wonder if patients will expect that and that to not use any sort of support from ai to access the world's historical medical knowledge will be seen as some rebellious form of raw dogging medicine that you've just got a a person in a GP surgery that has no internet just giving you decisions and that's seeming like caveman cavewoman medicine almost I just wonder if that's the direction we're going based on what I've seen of my friends and the way they use it because if a if a lawyer is using Harvey or whatever their equivalent is to access all available case history in the library to find precedent for an argument in a court of law then surely when they go and get investigated for a potential rare disease they're going to expect the equivalent they're going to expect the case history of all cases similar in medicine to be searched to figure out what their differential diagnosis in in order of prevalence that's what i would almost assume if if the world is using ai in such a way they might then expect and you get you might then get this bottom-up demand i've got no evidence for this i've just it's just sort of a thought that i have that something like what you do literally what you do will become an expectation it will become the norm it has to because i imagine you don't churn many clients if any yeah yeah not minimal yet yeah right because i imagine this is something that once it's there is nigh on impossible to go back from just because of the importance of it i just wonder i just wonder i think the biggest thing the biggest trend there is that's happening now is the consumerization of healthcare i think because health systems globally, especially the NHS, but lots of other health systems globally are under so much pressure.
59:58You know, the aging population, you have long wait times, et cetera, all of that. You're now seeing the consumers taking their, and the patients taking the healthcare into their own hands. And if they're, you know, I think it had its chat GPT moment. Dr. Google was obviously a big thing and is a big thing in 30 % of all Google searches are health related. Something like 45 % of all chat GPT queries are health related. and if you're going and getting an answer from the world's medical knowledge at this stage from this and you're going to your doctor and they don't know what you're talking about because the world's medical knowledge every 26 seconds there's a new study published of course someone's not going to know that I think another really important aspect is looking forward I think it's a really important point is chatTBT currently or whatever platform you're using whatever maybe what the consumers are using this is the worst it's ever going to be you know this is this this is the most case it's ever going to be and and it's going to be better every single year and and it's a case of the future is here it's just not evenly distributed and how you get that even distribution is you engage with clinical safety you get it regulated properly you put it into the systems that kind of currently exist and you get it distributed to the patients at the point of care there was a study done last year there's two comparative studies it was taking patient expectations and I'd probably misquote some of the figures but it's more about the delta and the difference in the figures.
1:01:24Initially, a few years ago, it was asked, would you be happy if AI was used in your care, in the course of your care? And this was maybe about five years ago and about 10 to 15 % of patients says, yes, I'd be happy. And there was a more recent one done last year that asked, do you expect AI to be used in your care? and 65 % of them answered we expected AI to actually be used by our doctor at some point even if we weren't aware of it even if it was triaging blood tests or something like that so in the space of a couple of years the patient's sentiment has rapidly shifted and so yeah it's definitely the the trend that's happening yeah which does sort of prove the hypothesis I guess in some way I do expect that trend to continue I really do I'm interested Declan before I let you go in terms of that future and getting there and where olus fits into it what what are the biggest threats to you that you perceive at the moment threats to olus i mean um in in terms of its potential progress or its success where where do you think this where do you think this lives or dies i think regulation is a big is is is not not just to olus but this decision support space in general and the ambient listening space prior to this.
1:02:41I think how we handle as a society, how AI is deployed and how it's regulated. And I think there is a real risk that we go far too heavy handed with it in the EU and the UK. I think the UK is pulling back to an extent. And I think it's very clear that the NHS has made it clear that AI is going to be the savior as such. the technology itself is going to increase efficiencies, etc. And I think it will have a part to play. So it's good to hear that's the sentiment. It does need to be regulated. It does need to be safe, but it needs to be allowed to be used in a way that is safe and regulated. If you neuter this technology, we won't get the GDP growth that it needs to drive.
1:03:25And we'll all enter a massive recession. And we won't get the benefits from healthcare that needs to be derived from it as well. So I think that's the biggest risk that we have. And there's a divergence in geographies of how each geography is adopting this as well. The U.S. is allowing, it's a bit more Wild West-y, it's allowing things to be used at the point of care a lot more. There's a lot of talk in the U.S. with regards to regulation around model size, around how we regulate it, around output, around size of the company, etc. And I just, I think we can't neuter the potential of this technology.
1:03:57We have to get the balance of safety. We have to get the balance of the people that actually trust it. but we can't neuter it. Imagine if you said, okay, here's the internet and in the 2000s it was starting to boom and everyone said, oh no, but you're only allowed to use it for 10 minutes a day. I think we have to get that balance and we have to wrap laws around it and it's a really difficult task for regulators. It's a really difficult task for governments to try to navigate that and it's good that they've shown that they're able to change and when they get things wrong or move fast when they get things right.
1:04:28I think that's the single biggest risk. you know if say for example MHRA came out and said okay you're not allowed to use AI for automated decision support or not use large language models because you can't prove you know the software of unknown providence in there you can't actually prove out the exact path is where you got that decision therefore it's never allowed to be used now I don't think that's going to happen but I think there's a risk that it neuters it to the point where you're only allowed to do something and it actually the utility value significantly decreases so I think that's probably the biggest risk in general.
1:04:58Heidi have just done their 65 million series B they're talking about this AI care partner on the full administrative side so moving very much out of the pure AI scribes to cover more of admin where do you think do you think companies like that will end up trying to swallow up the areas that you're in and take over that sort of stuff and is that a potential sort of almost exit strategy for you that there's this big consolidation of these like emerging beasts or you going the other way you acquiring them if you know you're doing a series b etc you know or a consolidation where it's a partnership like what do you do you see that happening where there are like these really big behemoth players or do you see everyone sticking to their lane and building out partnerships together and you going okay well Heidi go all the way up to there or Tortoise or Tandem or any of the others they go all the way up to this bit and then there's a bit of a gap and we do this bit so maybe we could work together on the bit in the middle like how do you how do you perceive those companies and where you sit i'd say this before uh on a different podcast and you may have seen or not around you know this idea of bundling and unbundling of health yeah healthcare software um yeah so you know five years ago electronic record single point um technology shift and And there's lots of demand for that new technology.
1:06:20The EHRs or other systems don't offer it. So then you get explosions in ambient listeners and AI for radiology, et cetera, et cetera. Then you get a rebundling. So the EHR starts to try to gobble as much of that workflow as possible. I think it's really important that there isn't multiple disparate systems. And doctor has to use 50 different systems. But it's also important that if they're using one system, that it's using the latest technologies and it's actually solving problems. So there's always this constant tension between how many systems versus does the one system actually solve the problem?
1:06:49One system will never solve the problem. So there will always be this kind of partnership. Where does OLIS fit into that and how do we move, I suppose, is the direct question. One aspect is managing internal hospital and institutional knowledge is a very different problem to solve than translating and transcribing a clinical note at the point of care when it's been taken. So they're two very, very different problems and it affects two different people. internally in the hospital it's it's the you know the clinical guideline team and the governance team or and the pharmacy team around the medicines and it's a lot of the doctors that are leading this policy side so solving their problem proving clinical governance proving that that's safe then when you take that downstream of i want to get a decision from that policy automated using ai that's a class two a device so you have to go down and prove all of that out so doing all of that is what needs to be done in this knowledge management space if an ambient listener because they know they probably are going to do that and there's a number of them are starting to look at doing that but they have to solve the problem of how do we do all the transcription how do we regulate that as a medical device then as a separate problem they have to then go and solve all of the problem with regards to knowledge base etc etc ultimately if in you know we're probably one of the world's largest collections of internal institutional medical knowledge that exists currently and certainly in the next two to three years we'll be the single largest internal repository across multiple hospitals.
1:08:10Wow. Is it easier to just API with that? Or is it easier to reconvince everyone to upload all of your content to our new system that we haven't proven yet? So we built an Olus Medical API. So we already built an API. So any ambient listener, any electronic record can make a query with an anonymized note, send it to the Olus Knowledge Base and in real time we can send back, hey, for that patient, this is the thing that you need to do. And they can render that in their system the way they want to. so I think that's where it goes it probably APIs 10 years down the line or 5 years down the line one of the massive behemoth players or an electronic record is it easier then to buy all of that data and that distribution because it doesn't exist anywhere else probably so that's probably what will happen if we look at the external content that a doctor needs, that's commoditized you're going to be able to access that from everywhere so buying that content isn't very useful because there's no defensibility getting access to a knowledge base that's the world's largest internal repository of medical knowledge that exists in the planet that you know that's that's very valuable to either api and sync with or to to acquire so that i'd say that's probably the path that this goes on but um it's always back to what's the focus the focus is making sure the problem is solved for the patients those two billion decisions did the world's medical knowledge get queried and and that's kind of what our focus is and the more people that are doing that the better and the if if we can partner with someone eventually down the line and make an acquisition so that we're continuing on that path to make sure that all of those billions of decisions are being informed and then that's that's something very interesting very interesting when's the next funding round we've got a lot of investors listening to this they always tend to reach out to people that have come on but um yeah are you interested in chatting to them when's your next round there'll be announcements coming soon so yeah so essentially there's a we're we're in the middle of an oversubscribed round right um and uh and we are we're navigating the uh that presence so we're in the middle of an oversubscribes here could take it all and then start buying people up that's uh so it's always an option it's always an option there's gonna be a lot of that i think there'll be a lot of that in the next two years declin this has been awesome um i i definitely learned so much from you here if people want to learn more about olus or get in touch with you what's the best way for them to do so probably linkedin is probably the easiest way to reach us send me a direct message connect with me more than happy to talk to anybody so just send my message on LinkedIn.
1:10:29Amazing. We'll put the link to your LinkedIn in the show notes. Absolute pleasure, man. Thank you. Amazing. Cheers, James. Hey, everyone. Thanks for listening and making it all the way to the end of this episode. Remember to subscribe, rate us and leave a review. And you can head to the description of this episode to follow me on all of my social media so you don't miss out on any of the latest health tech content.
From the publisher
This week, James is joined by Dr. Declan Kelly, founder of Eolas Medical, a platform tackling one of healthcare鈥檚 most overlooked problems: knowledge management.
Eolas Medical helps clinicians access the right information instantly at the point of care. Used by NHS Trusts, clinical teams, and individual practitioners, the platform consolidates essential medical knowledge from trusted sources鈥攇uidelines, protocols, and internal documents鈥攊nto one simple, intuitive system.
Connect with Declan: https://www.linkedin.com/in/declan-kelly-484bb7187/
Learn more: https://www.eolasmedical.com/
Apply to be a guest: www.thehealthtechpodcast.com
Subscribe to Healthtech Pigeon 馃惁: www.healthtechpigeon.com
Get in touch with James: www.jamessomauroo.com

