Until a warning today (from our CEO of medical informatics) explaining why he blocked access to Open Evidence, I hadn't thought about how this platform plans to make (big) money, and the risks associated with sharing questions with them (if it ever could be traced back to the individual patient.) He argues there could be inadvertent recording of, or sharing of personal health information etc.
Open Evidence is an AI platform that uses only peer-reviewed reviewed articles in its large-language model (LLM) providing a synthesis of recent requirement information to boost clinicians. The following "business case analysis" is probably exaggerated and overly optimistic, but the numbers are staggering.
Open Evidence Business case: monetization strategy analysis. Trey Rawles April 2025
$1 billion valuation...strategic partnerships, particularly with the New England Journal of Medicine...440,000+ verified doctor users across the United States...40,000 new verified healthcare providers registering monthly...75%+ of users utilize the platform during office hours for clinical decision support...Global healthcare AI market size: Estimated at $11 billion in 2023...Team largely composed of AI scientists from Harvard and MIT with healthcare expertise...OpenEvidence focuses solely on augmenting clinical decision-making...Target: 1,000+ major health systems in the US...Average annual enterprise license: $500,000-$2,000,000...Similar enterprise models have proven successful for companies like Palantir, Snowflake, and Databricks, which offer free tiers but generate significant revenue through enterprise contracts...OpenEvidence Pro: Subscription tier ($99-299/month) for individual practitioners...
Premium Features Could Include:
Priority computation resources for faster response times
Advanced visualization tools for complex cases
Custom knowledge base creation and curation
Specialized modules for different medical specialties
Enhanced patient education materials generation
Personalized practice pattern insights and analytics
CME (Continuing Medical Education) credit integration
Expanded citation functionality and research tools
Revenue Potential:
Target conversion rate: 15-25% of free users
Potential subscribers at current user base: 66,000-110,000
Annual revenue at $1,200-3,000 per subscriber: $79-330 million
The aggregated, anonymized knowledge generated from millions of clinical queries represents invaluable insights for various stakeholders...Trend Analysis: Selling aggregate, anonymized insights on treatment patterns, diagnostic questions, and emerging clinical concerns...Pharmaceutical companies,Medical device manufacturers,Healthcare policymakers,Research institutions,Medical education providers,Health insurers,Public health agencies...Data insights subscriptions: $100,000-$1,000,000+ annually per client
Phase 1: Foundation Building (2023-2025)
Phase 2: Monetization Expansion (2026-2027)
Phase 3: Global Scaling (2028-2030)
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