The Transformative Potential of AI in Healthcare: Carecode’s Journey
Artificial intelligence (AI) is revolutionizing healthcare, extending beyond direct medical applications to streamline tasks like appointment scheduling and confirmations. Brazilian startup Carecode is embracing this potential, emerging from stealth mode with the goal of slashing healthcare costs and boosting medical outcomes through AI-driven solutions. These solutions focus on tasks surrounding medical appointments, traditionally handled by call centers.
“We tend to think that only the moment with the doctor is what matters, but after having spent 10 years in healthcare I realized that those moments [around the appointment] are as important as the medical encounter,”
{Thomaz Srougi, CEO of Carecode}
Though not a doctor himself, Srougi’s insight stems from founding Dr. Consulta, a private medical service provider that has raised $168 million in funding. Now at the helm of Carecode, he is leveraging this experience to transform healthcare operations.
- Impressive Fundraising: Carecode’s $4.3 million pre-seed round was largely funded by a16z and QED, with contributions from Endeavor Catalyst, K50 Ventures, and Latitud Ventures.
- Strategic Partnerships: Collaborations with key partners demonstrate promising early results, indicating that AI agents can handle most call center tasks at reduced costs.
- Localization Efforts: The platform effectively integrates with WhatsApp to cater to Brazilian users’ preferences for text and audio messages.
The localization strategy is one of Carecode’s distinguishing features compared to U.S. counterparts like Sierra. According to Camila Vieira Fernandes of QED, Carecode’s vertical approach in healthcare allows for a more tailored customer experience, unlocking previously untapped potential.
The opportunity for growth in Brazil’s healthcare sector is vast. Companies spend up to 50% of their revenue on contact centers and administrative tasks, amounting to $100 billion annually. By targeting these specific needs, Carecode aims to build a robust competitive edge while also eyeing future ventures into related sectors such as insurance and financing.
“We may be able to go in the future to insurance, for instance life insurance and other sectors related to healthcare. We want to tap into payments. We may tap into financing. So all of that derives from healthcare,”
{Thomaz Srougi}
In conclusion, Carecode exemplifies how AI can redefine operational efficiency within healthcare while meeting regional needs. As they continue their journey, the startup holds promise not only for Brazil but potentially beyond as they explore new avenues for growth.
