Last 12 months have been the most significant period in the decade-long entrepreneurship journey of Abhinav Shashank, co-founder and CEO of San Francisco-based health-tech firm Innovaccer. The company offers data analytics and data activation tools to accelerate healthcare innovation. Innovaccer’s solution suite is a collection of digital solutions that can be customised by its clients using modular building blocks. The company charges its clients for tailor-made software it builds.
From $95 millon in revenues and a cash burn of $25 million in 2023, Innovaccer expects to end 2024 with revenues of $130 million and close to zero cash burn.
In 2023, Innovaccer launched ‘Sara’, a healthcare-specific AI solution designed to meet operational needs of the healthcare sector in the U.S. ‘Sara’ promises 83% accuracy in executing complex healthcare queries compared to other AI models such as Open AI GPT-4, says Shashank. — Joe C. Mathew