The medical artificial intelligence platform OpenEvidence is witnessing widespread adoption among doctors in the United States, with about two-thirds of physicians relying on it to make patient-related decisions. This has driven the Miami-based startup, founded in 2022 and led by Daniel Nadler, to a $15 billion valuation. The company stated that physicians handled more than 42 million prompts last month alone by searching medical journals and clinical guidelines to assist in diagnosing and treating patients.
The platform relied on word-of-mouth promotion for its growth, entering the medical software market by bypassing traditional systems that are slow to adopt generative AI models, such as the UpToDate tool from Dutch group Wolters Kluwer. The company has successfully raised nearly $1 billion in investments over the past 18 months, including a $250 million funding round last September. The company expects to generate advertising revenues between $400 million and $500 million by the end of 2026.
Integration with Health Institutions and Future Expansion
The platform's spread has led to formal relationships with several hospitals and specialized centers, such as the Mount Sinai Health System and the Memorial Sloan Kettering Cancer Center, in addition to integrating a customized version into electronic health records at NYU Langone Hospital to ensure safe use. The company has also begun expanding into other areas such as ambient documentation during doctor-patient interactions.
In a strategic move, the company plans to launch clinical trials soon in partnership with researchers to target cancer and rare diseases, and to apply artificial intelligence models for drug discovery based on existing scientific literature. Alexander Tarashansky, creator of Anthropic's Claude Science platform, has joined the company to support these clinical activities.
Challenges and Controversy Over Accuracy and Advertising
Despite its wide commercial success, the platform faces growing competition from major artificial intelligence companies like OpenAI and Anthropic, which have developed healthcare sector solutions. Its reliance on an ad-funded model has also raised questions about its market value, while the application of the European Artificial Intelligence Act forced it to withdraw from the European Union and the United Kingdom earlier in the year.
From a clinical standpoint, results evaluating the platform's performance have varied; a study conducted by the Mayo Clinic found that the tool provided accurate, evidence-based recommendations in experimental cases, while another study published in the journal Nature indicated that general models like Google's Gemini and OpenAI's GPT outperformed the platform in certain clinical benchmarks. Some experts warn against younger physicians excessively relying on these systems without a fundamental grasp of medical knowledge.