Utilizing Artificial Intelligence, Confido Deploys Digital Assistants to Enhance Patient Satisfaction
Utilizing Artificial Intelligence, Confido Deploys Digital Assistants to Enhance Patient Satisfaction
When businessman Chetan Reddy, who hails from India, took his spouse for a spine operation in the United States, he was blown away by the top-notch medical care she received but stunned by the excessive administrative burden associated with the treatment. He lamented, "I devoted 80% of her hospital stay making phone calls and completing forms, instead of being by her side." The surgery was a triumph, yet he was astonished by the bureaucratic complications.
This experience served as motivation for Reddy to establish Nexus Health, a venture that leverages automation and artificial intelligence (AI) to lessen the administrative load. Reddy, who currently resides in the US, founded the New York-based company last year alongside Vichar Shroff. Today, Nexus Health will disclose having secured $3 million in seed funding from investors.
Reddy explained, "The US healthcare system has a reputation for its fragmentation and immense paperwork, but another issue is that healthcare providers can't hire sufficient personnel to handle the administrative tasks. This adds additional pressure on the existing workforce, leading to a vicious circle as they inevitably quit."
As described by Nexus Health, their solution is "AI-powered digital laborers on healthcare’s front lines." They've developed tools that enable healthcare providers to assign numerous important tasks, as well as chained tasks, to AI, reducing the need for hiring in a tight labor market and minimizing the stress on existing employees.
While several businesses have claimed they can use AI to address similar problems, Reddy and Shroff believe their approach is innovative because their technology integrates with a provider's existing systems, rather than requiring employees to learn yet another software. It also addresses entire processes to improve patient outcomes without human intervention whenever possible.
Simple tasks such as setting up an appointment or ordering a prescription refill seem straightforward, but they require multiple steps in today's complicated healthcare landscape.
Shroff, now serving as chief product officer to Reddy's CEO, said, "We excel at creating AI solutions that effortlessly integrate with legacy systems, transforming fragmented and disorganized data into meaningful workflows in real-time. This is a groundbreaking innovation that enhances operational processes and significantly improves patient outcomes."
Their solution has attracted interest from healthcare providers, with Nexus Health signing up around 20 healthcare providers and managing approximately 50,000 patients.
Jacob Zitterkopf, the owner of a multi-clinic dental practice in Colorado, complimented the technology, stating, "Nexus Health's workflows have revolutionized our approach by actively communicating with patients, ensuring they feel valued, heard, and understood. This boosts the efficiency and communication within our clinics, as well as improving the overall patient experience."
The company aims to build on these accomplishments by investing in its technology to increase the AI agents' workloads. Enhancing security measures is a top priority in an industry where many patients express concerns about AI usage. Reddy cautioned, "Miscalculations can shatter the industry's confidence in its clients."
Today's $3 million seed funding round will assist the company in achieving these objectives. The round is led by Together Fund, with participation from MedMountain Ventures, Rebellion VC, DeVC, Operators Studio, and strategic healthcare operators. Nexus Health had previously secured a pre-seed round led by Momentum Capital.
Gupta, co-founder and general partner at Together Fund, declared, "Nexus Health is reshaping the operational foundation of specialty healthcare with its AI-powered digital labor force. By constructing AI agents to address complex administrative workflows and produce tangible results, it is perfectly positioned to alleviate workforce shortages and cost pressures, becoming the vital infrastructure for modern healthcare operations."
Investors from MedMountain Ventures showed equal enthusiasm, with Jane Wang stating, "Nexus Health's solution relieves the burden of nurse and allied health professional personnel shortages, enabling clinical practices to continue serving patients who might otherwise miss care due to scheduling, follow-up, or education issues."
Alanen, managing partner of Rebellion Ventures, added, "The healthcare system desperately yearns for innovation to enhance productivity, improve staff experience, and upgrade responsiveness to patients’ needs."
Small entrepreneurs in the healthcare sector often struggle with the excessive administrative burden, as highlighted by Reddy's experience. Nexus Health, founded by Reddy and Shroff, aims to help these entrepreneurs by using AI to automate administrative tasks, reducing the need for hiring and minimizing stress on existing employees, thereby improving overall patient outcomes.