What You Should Know:
– Parakeet Health, a generative AI company focused on revolutionizing patient engagement, has announced the launch of its AI-powered voice platform and has secured $3M in seed funding to fuel its growth and development.
– This innovative solution aims to streamline patient communication for healthcare providers, improving efficiency, reducing costs, and enhancing the patient experience.
Addressing a Critical Need
With 90% of patients still relying on the phone for appointment scheduling, managing call volume remains a significant challenge for healthcare providers. These issues can lead to patient dissatisfaction, revenue loss, and staff burnout. Parakeet’s solution addresses this need by automating tasks, reducing staff burden, and improving patient satisfaction.
Parakeet’s AI-Powered Solution
Parakeet’s founding team comprises experienced leaders in healthcare and AI, including former executives from One Medical, Epocrates, Microsoft, and Twitter. Parakeet’s platform leverages advanced large language models (LLMs) to automate a wide range of patient interactions, including:
- Appointment scheduling
- Referral management
- Patient outreach (prescription status, lab results, etc.)
- Billing and payments
- Answering FAQs
The platform’s AI voice agents are available 24/7, multilingual, and capable of handling both inbound and outbound calls and texts.
Early Success and Key Benefits
Parakeet has already demonstrated significant results in improving patient communication:
- Reduced Patient Acquisition Costs: Decreased costs by 2x.
- Improved Success Rates: Enhanced efficiency in scheduling appointments and managing referrals.
- Eliminated Missed Calls: Ensured that all patient calls are answered promptly.
Early Customer Base
Parakeet’s early success has attracted major customers, including:
- Galileo, a virtual primary care provider.
- Genome Medical, a virtual genetic counseling leader.
- Medical Dermatology and Cosmetic Surgery, a multi-site skincare provider.
“We’ve all experienced long holds, after-hours frustrations, and waiting for call-backs when communicating with our doctors. Sadly, these experiences are more the norm and not the exception for patients, and while they may sound small, these everyday issues are far more damaging to healthcare practices than they seem, especially when every dollar counts,” said Parakeet’s Co-founder and CEO Jung Park. “Our platform is built with deep knowledge of the healthcare system, giving providers an AI-powered voice agent that understands and supports their workflows and handles tasks that usually require entire teams.”
