August 22, 2023: Unlocking healthcare insights

Improving the way we analyze and automate the most important data in our lives

What is Semantic Health?

Semantic Health is a medical coding and auditing company focused on using large language models (LLMs) to improve the way we analyze and automate clinical data processing for hospitals.

Our vision is to improve care delivery and operational efficiencies by transforming the use of unstructured data in healthcare, starting with manual workflows in medical coding and auditing.

What was the insight/inspiration that led you to launch it?

Recognizing the limitations of my medical care, I sought to address my patients' broader needs like enhanced treatments, reduced wait times, and preventive care. To achieve these goals, I advocate for the empowerment of clinical practice through robust data, primarily generated by health information management (HIM) and revenue cycle management (RCM) teams.

Upon investigating hospital systems, I was astonished by the burdensome tasks faced by medical coders and auditors, compounded by outdated tools. The absence of efficient technology prompted me to explore a solution: leveraging LLMs and AI to revolutionize HIM workflows and usher in a new era of healthcare.

How has it been received by the market? Why do you think it has been so well received?

We have significant traction from brand-name hospitals in both Canada and the United States.

Hospitals continue to use our software because of the quality of the Semantic Health Information Platform towards improving medical coding and documentation quality. As well, we are quickly noticing how many hospitals and health systems are seeing the value of adopting new technology, such as AI, to prepare for the future of healthcare technology.

How did you know you were ready to found a company?

As a doctor, I recognized the importance of improving medical coding and auditing in hospitals. I grew to understand several pain points involved with the coding and auditing process and became a subject matter expert. This enabled me to define the problem I am solving for Canadian and US hospitals and outline software functions that can drive efficiencies and improve current processes. Using my experience and knowledge within the healthcare industry I knew I was ready to become a founder of Semantic Health.

How did you meet your founders/know they were the right people to start a company with?

In my pursuit of a suitable founder for Semantic Health, I faced challenges in locating someone with the right startup expertise. However, I eventually connected with a co-founder who had a strong background in entrepreneurship and shared my vision. Together, we conceptualized the potential of our proprietary AI software for global hospital benefit.

Our collaboration was pivotal in mapping out Semantic Health's inception and software development to reshape healthcare. This experience taught me that assembling the right team is both vital and challenging in initiating a company.

"It is important to find someone who will offer new ideas, provide honest feedback and input when necessary, and have a strong industry understanding. These elements contribute to a strong team led by the right leadership members."

What has been the hardest thing on your journey so far?

At Semantic Health, the toughest aspect of our journey has been crafting our exclusive AI and ML software. We've navigated the complexities of medical coding and auditing challenges, harnessing AI and ML's potential for success. While our software is comprehensive, we value user input and continuously enhance our offerings for coders and auditors.

This commitment drives customer satisfaction and exceptional product performance.

What advice do you wish you had been given prior to launching?

Really understand the minimum viable product you need to build to launch and iterate as quickly as possible to get to that stage.

Who are the 5 Canadian startups you like in your market?

• AlayaCare - transforming home-based care agencies

• League - the digital healthcare platform at the forefront of CX transformation

• Swift Medical - the new standard for wound care

• Maple - see a doctor online in minutes

• MedChart - transforming medical record access for businesses beyond

Join us for a power-packed night of learning, sharing, and networking at AI Dev Day - Toronto.

We are excited to bring the AI developer community together to learn and discuss the latest trends, practical experiences, and best practices in the field of AI, LLMs, generative AI, and machine learning.

In addition to the tech talks, there will be plenty of opportunities to network with AI developers, live demos by AI startups, panel discussions, and career opportunities.

Date: 8/22 Tuesday, 4:30 PM EST

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