Carecode, a Brazilian medical AI startup, is using artificial intelligence technology to revolutionize the medical appointment process and is committed to reducing medical costs and improving efficiency. Its core product is an AI agent that can efficiently handle various tasks before and after appointments, fill the vacancies caused by canceled appointments, and replace most of the work of traditional medical call centers at a low cost. Thomaz Srougi, the company's CEO, relied on his ten years of experience in the medical industry and past success to successfully attract capital injections from well-known investment institutions such as a16z and QED, and received US$4 million in seed round financing.
As attention is increasingly drawn to the potential of artificial intelligence in healthcare, Carecode is part of this trend. Carecode focuses on using artificial intelligence agents to handle a variety of tasks before and after medical appointments, aiming to reduce medical costs and improve medical outcomes. CEO Thomaz Srougi said in an interview that not only the importance of the doctor’s meeting cannot be ignored in the medical process, but the before and after appointments are also crucial. His medical background stems from ten years of industry experience, having founded and served as Chairman of Dr. Consulta, a private medical services provider.
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Carecode is currently in the early stages of funding, but has already received significant support. Its $4 million seed round was primarily provided by well-known venture capital firms a16z and QED, with participation from other investors. Although Latin America's venture capital market is experiencing a "startup winter," Srougi and his co-founder Pedro Magalhães are still attracting the attention of investors based on their past success.
Srougi mentioned that Carecode is already conducting preliminary tests with partners, and the results show that its AI agent can complete most of the work of traditional medical call centers at a low cost, and can proactively fill canceled appointments. This means medical institutions can focus their human resources on more complex cases and increase work efficiency. To cater to local market needs, Carecode provides support for text and voice messaging on the WhatsApp platform, especially for the elderly and low-income users.
Unlike some American AI medical startups, Carecode adopts a vertical model and focuses on the medical industry, which gives it an advantage in customer experience. According to QED partner Camila Vieira Fernandes, Carecode's strategy can avoid the inefficiencies caused by multiple solutions and ensure that customers' needs are better met.
In Brazil, healthcare companies spend 50% of their revenue on call centers and administrative staff, amounting to about $100 billion annually. Carecode's team believes a vertical model focused on the healthcare industry will help them build a moat against the competition, although expansion into healthcare-related insurance and financial services is also possible in the future.
Highlights:
Carecode uses AI agents to handle the pre- and post-medical appointment process to reduce medical costs.
The startup is backed by well-known investors such as a16z and QED, with funding reaching $4 million.
Carecode's vertical market strategy gives it a distinct advantage over competition in the healthcare industry.
Carecode's vertical model and precise grasp of local market needs make it stand out in the highly competitive Latin American medical market, bringing new solutions to improve efficiency and reduce costs to the medical industry. Its future development is worth looking forward to.