Friday, September 30, 2022

Butterfly Network rolls out new ultrasound platform

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Butterfly Network, maker of a handheld, smartphone-connected ultrasound system, is rolling out a new ultrasound platform that can integrate into a health system’s clinical workflow. 

Dubbed Butterfly Blueprint, the system is able to integrate data from Butterfly’s handheld ultrasound probe. The system uses Compass software to upload ultrasound scans and information to a provider’s EHR system.

The platform can keep track of information about quality assurance, credentialing, documentation and billing. It also provides educational resources to providers. The technology is device-agnostic and is able to integrate non-Butterfly devices and clinical information. 

The technology also includes optional software, including Caption Health’s artificial intelligence-backed tool that helps clinicians detect diseases. 

This new announcement coincides with the release of Butterfly Network’s Q4 earnings call. The public company announced a 35.3% increase in revenue in 2021 over 2020. Q4’s revenue increased by 21.3% year-over-year. 

WHY IT MATTERS 

Butterfly pitches the new platform as a way for cross-discipline care teams to have better access to ultrasound data and information. 

“Ultrasound provides valuable information. The ability to enable the practical application of ultrasound into the clinical workflow to inform clinical decision making is powerful,” Dr. Todd Fruchterman, Butterfly Network president and CEO, said in a statement.

“Butterfly Blueprint empowers an evolved point-of-care toolkit for hospitals and health systems – one that transcends beyond touch, listening, and surface visuals, and beyond habit-based imaging and lab orders. With Butterfly, clinicians across all disciplines now have a strategic tool that we believe allows them to see and know sooner, helping them drive better care decisions, efficiency, and outcomes.”

THE LARGER TREND

Butterfly Network went public in 2020 via a SPAC merger with Longview Acquisition. Prior to hitting the public market, the company had raised more than $350 million in capital. The company landed an FDA clearance in 2017 for its ultrasound scanner that uses easy-to-manufacture semiconductor chips. In 2019, the company announced its Butterfly Enterprise platform, which connects with third-party ultrasound devices, and with Butterfly’s handheld device.  

In 2020, the company disabled two software features for its ultrasound devices that were implemented without a 510(k) clearance

Butterfly Network isn’t the only company using digital ultrasound technology. Philips launched a smartphone-connected ultrasound device called Lumify in 2015. Additionally, AI-backed handheld ultrasound Exo scored a whopping $220 million in Series C funding in 2021.  

 



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