Doctors are burned out. Patients don’t understand the advice they’re given. And the U.S. healthcare system is drowning each year in $1.5 trillion – with a “T” – in administrative costs.
Abridge CEO Shiv Rao (
@ShivdevRao) thinks he can help.
A practicing cardiologist who still sees patients, he co-founded
@AbridgeHQ in Pittsburgh in 2018 to build the “AI operating system” for healthcare. Abridge's software automates the clerical work of a visit, from notes to billing, and increasingly assists with making clinical recommendations, too.
"We think healthcare is the biggest opportunity for AI," Rao says. "We want to be deflationary, we want to save time, save money, and save lives."
Valued at $5.3B, Abridge serves more than 300 health systems that reach 250M Americans, and recently partnered with
@EliLillyandCo and
@nvidia.
But it faces plenty of potential competition, from giants like Microsoft, Epic Systems, and Palantir, to VC-backed rival Ambience, and maybe even the AI labs.
On The Upstarts Podcast, Rao talks about how an early bet on AI got Abridge going, before ChatGPT; why reaching scale in healthcare requires years of “eating glass” and “kissing frogs;” and why he thinks Abridge can help doctors and nurses feel like “superheroes.”
Plus, he shares his Upstart Moment: A “YOLO” decision to take on Microsoft head-to-head.
This season is presented by
@Rippling.
CHAPTERS
00:00 Introduction
02:16 What Abridge does for doctors, patients and hospitals
06:39 Solving the ‘conversation’ problem
10:45 From doctor to startup founder
18:48 “Eating glass” and “kissing frogs” early on
20:14 What IBM Watson got wrong
23:25 Why healthcare is a hard sell for startups
31:39 A “YOLO move” to go after Microsoft
37:42 Dealing with increasing competition
40:29 Working with NVIDIA, Anthropic and OpenAI
43:26 Shiv’s personal healthcare journey