Our Investment in Corti - Supporting Overburdened Healthcare Professionals Globally
Healthcare systems are under intense pressure across the world. In many countries, budgets have been eaten up by inflation and slashed by governments and healthcare organisations. Almost everywhere, demand for care outstrips the limited resources available, with primary care workers in particular feeling the strain. Healthcare professionals simply cannot keep up with the volume of cases, leading to stress, fatigue and a lower quality of care: doctors experiencing burnout are twice as likely to make errors.
Overburdened healthcare professionals are in desperate need of support. This is where Corti comes in - our newest $60million Series B partnership which we’re delighted to announce today. Founders Andreas and Lars both have experience of the huge strains our healthcare systems face. They have come together to develop an AI-powered workflow system that relieves the pressures on healthcare professionals, gives them more quality time with patients, and empowers them with helpful insights and guidance.
Over the last decade, providers have turned to digital records and systems in an effort to become more efficient and improve patient care. But the move to digitisation - accelerated by the rise of telehealth post-Covid - has compounded some of the stresses it was meant to relieve. Physicians now spend an average of six hours per day interacting with electronic health records (EHR) and spend nearly two hours on EHR tasks for every hour of direct patient care.
Corti automates updating EHR, billing, coding, and other time-consuming tasks. Combining cutting–edge ML and generative AI models with unprecedented data sets of patient interactions, it unburdens doctors, nurses, care coordinators and others of repetitive and draining workflows. This reduces burnout and allows them to refocus on what matters most - providing care to their patients.
Unlike other tools, Corti also operates live during patient interactions. Its proprietary speech recognition software doesn’t lag behind, meaning it can provide real-time guidance to healthcare professionals. Studying and learning from the finely-tuned systems that have been built to take care of patients - the “secret sauce” of healthcare providers - Corti nudges care workers and clinicians to ensure the consistency and quality of care pathways in patient interactions while also giving administrators a central dashboard to manage and track interactions across their patient populations. This helps to minimise the mistakes in triaging that can be so costly to both patient and provider.
Corti already integrates with over 20 medical systems and the results are clear. A registered nurse using Corti is on average 25% faster, makes roughly half as many mistakes, and spends up to 75% less time journaling and documenting, compared to one not using Corti. What’s more, all their work is automatically audited, coded, risk-assessed and quality-assured.
This funding will be channelled towards Corti’s growth ambitions in Europe and especially in the US, where the company already works with emergency medical response teams in Boston and Seattle and is in the process of expanding its client base into leading hospitals, clinics and private health insurers. With the help of Corti, we can support overburdened healthcare professionals and make sure that every patient gets the quality healthcare they deserve.
