A Brazilian startup, Carecode, has emerged from stealth mode with a focus on leveraging artificial intelligence to streamline healthcare administration. The company aims to reduce costs and improve patient outcomes by deploying AI agents for tasks like appointment scheduling and confirmations, traditionally handled by call centers. This approach addresses critical moments surrounding medical appointments, which are deemed as vital as the actual consultations themselves.
Carecode's CEO, Thomaz Srougi, a seasoned healthcare entrepreneur and founder of Dr. Consulta, emphasizes the significance of the administrative aspects of healthcare. The company has secured a $4.3 million pre-seed funding round, primarily backed by a16z and QED, along with other notable investors. This financial backing underscores the potential of Carecode's vision, despite a current period of reduced venture capital investment in Latin America.
The startup's technology is designed to meet users where they are, primarily on WhatsApp, and supports both text and audio messages, a key factor in Brazil where many prefer using audio over text. This adaptability sets Carecode apart from general customer service AI platforms and is part of its vertical approach that differentiates it from the U.S. benchmark, Sierra.
According to QED partner, Camila Vieira Freitas, Carecode's focus on the healthcare vertical allows it to offer a more integrated solution compared to horizontal approaches. The financial potential is significant as healthcare providers in Brazil spend an estimated 50% of their revenue on administrative and call center costs, a figure Srougi places around $100 billion annually.
Carecode's early tests show its AI agents are capable of handling most of the tasks done by human healthcare call center staff, for less cost. The company also focuses on proactively filling cancelled slots, whilst allowing employees to focus on complex tasks. While starting with healthcare, Carecode's long term vision includes expansion into insurance and financial services, all stemming from their expertise in the healthcare vertical.
