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Verbal

USA, California
Market: Artificial Intelligence
Stage of the project: Operating business

Date of last change: 14.10.2024
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Idea

Verbal is an AI copilot for healthcare provider organizations facing staffing challenges increase revenue while lowering ops costs by automating training, QA, and clinical documentation.

Current Status

- $116k ARR live revenue with a 100% trial conversion rate.
- Accepted to HealthWorx CareFirst BlueCross BlueShield 2024 accelerator, which includes a strategic investment.
- LOI with Stanford School of Medicine.
- Multiple case studies demonstrating 75% reduction in admin time and 36% quality improvement
-Imminent traction with CareFrist BlueCross BlueShield and Mayo Clinic Platform.
-Developed a pipeline worth $44M from 90 companies
-Supporting eight different use cases across substance use disorder, chronic condition management

Problem or Opportunity

The global healthcare workforce is expected to face a shortfall of 18 million staff by 2035, leading to a $17 billion market opportunity. These staffing challenges limit patient access and quality control, both key to revenue growth in a world of value-based care.

Solution (product or service)

Verbal is the first AI copilot for clinical operations designed to help healthcare organizations facing staffing challenges boost revenue and productivity by automating training, quality assurance, and administrative tasks.

Business model

Verbal offers a SaaS-based licensing model across two product lines tailored for healthcare professionals and non-licensed staff, each with three pricing tiers: a starter package for AI-powered documentation and call management, an advanced package adding real-time reminders and performance analytics, and a premium package featuring additional tools for improving interaction quality.

Incubation/Acceleration programs accomplishment

We will participate in the Healthworx 2024 Accelerator cohort, organized by CareFirst (BlueCross BlueShield of Virginia, Delaware, and Maryland), Highmark Health (BlueCross BlueShield of Pennsylvania), BlueCross BlueShield of Alabama, and LifeBridge Health
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