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UiPath, Inc. (NYSE:PATH) shares are trading higher on Wednesday. The company disclosed the launch of its generative AI-based UiPath Medical Record Summarization agent at Google Cloud Next 2025.
The agent is currently in private preview and is powered by Google Cloud Vertex AI and Gemini models.
It enables payer and provider organizations to leverage generative AI and automation for more efficient and accurate analysis of medical records.
Developed in collaboration with clinical professionals, the agent offers a clinician-level, multi-point summarization of medical documents, completing the process in minutes instead of the typical 45 minutes required by manual data entry.
Mark Geene, senior vice president of AI Products at UiPath said, “Chief medical officers, chief financial officers and CIOs at healthcare organizations are consistently under pressure to reduce costs and improve quality of care while dealing with people resource constraints. Currently, clinical and non-clinical staff must summarize large volumes of medical records, yet medical records lack standard formats and summaries meaning they vary in quality and standardization.”
The UiPath Medical Record Summarization agent cuts down on time spent on tasks like patient referral intake and utilization management reviews, saving up to 40 minutes per referral and reducing prior authorization turnaround time by up to 50%.
The agent ensures consistent, high-quality summaries with standardized sections and traceable data, enhancing the accuracy of clinical decisions and minimizing errors.
It also provides organized, structured medical records, allowing clinicians to make quicker, more informed decisions.
Last month, the company reported fourth-quarter revenue of $424 million, which came short of the analyst consensus of $425.36 million, while EPS of nine cents beat the consensus estimate of three cents.
Investors can gain exposure to the stock via Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ).
PATH Price Action: UiPath shares are up 12.77% at $11.13 at publication Wednesday.
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