How Did The Augmedix (AUGX) Stock Rise In The Last Session?

Augmedix, Inc (OTCQX: AUGX) closed the last session at $5.25 after seeing its market cap increase by 5.00% to $142.52M. The AUGX stock traded 1.36K shares recently, exceeding its average daily volume of 1.12K shares. Additionally, shares of AUGX stock have been trading between $5.00 and $5.25. On the pink sheets, AUGX has 27.15M outstanding shares versus its float of 4.12M. Following the company’s partnership with Google Cloud to provide clinicians with a speech recognition tool, AUGX stock price soared.

AUGX and Google have joined forces for what?

In addition to enhancing the clinical-patient relationship, Augmedix frees clinicians to focus on what really matters: delivering top-quality patient care. AUGX facilitates medical documentation through real-time conversation between clinicians and patients and provides real-time support through electronic referrals, orders, and reminders. Based on automated technology that is overseen by healthcare data experts, Augmedix is a healthcare data service platform powered by intelligent automation.

AUGX service, which matches over 35 specialties, delivers accurate and comprehensive medical documentation for more than thirty healthcare systems and for hundreds of independent clinicians and physicians across the country, including offices, clinics, hospitals, emergency departments, and telemedicine practices. In addition to saving clinicians two to three hours per day, AUGX also accelerates clinician productivity by 20 percent and increases clinicians’ satisfaction with the work-life balance by 40 percent.

Augmedix yesterday announced a partnership with Google Cloud aimed at optimizing and integrating automatic speech recognition technology for mainstream use in clinical settings.

  • An important part of Augmedix’s technology stack is AUGX’s use of ASR, and now it’s seamlessly integrating Google Cloud Speech-to-Text into its Notebuilder technology platform, which uses natural language processing (NLP) to create the final clinical note.
  • As a result, AUGX’s medical documentation will be more efficient and high-quality with ASR and NLP, meeting the enterprise-grade security expectations of large health systems, such as end-to-end encryption and robust consent policies.
  • More than a dozen national health systems are using Augmedix and its ASR capabilities to improve efficiency and quality scores across their user bases, whether they are in conversation (ambient) or dictation (single party).
  • Augmedix’s technology evolution is progressing in a positive direction with this partnership.
  • AUGX can enhance its NLP models, improve its unit economics, and enhance its ability to scale to new clinicians by leveraging Google Cloud Speech-to-Text.
  • AUGX clinician customers frequently expect to receive notes in real-time, which is why Google Cloud’s models perform well in real-time.

AUGX collaboration: how will it work?

With the end of the pandemic approaching, the workforce of the healthcare field, especially the front-line healthcare workers, is now more than ever in need of a burnout-alleviating solution like Augmedix (AUGX). By partnering with Google Cloud, AUGX can reduce clinician burnout and increase productivity immediately.