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 co-founder and CEO Shiv Rao thinks he can help. He’s seen the problem on both sides – as a practicing cardiologist who still sees patients, and as a partner who spent years navigating the system to seek fertility treatments with his spouse.
“We’d look at each other and be like, ‘What did they just say?’ And I’m a doctor,” he says.
Founded in Pittsburgh in 2018, Abridge is building what Rao calls the “AI operating system” for healthcare. Abridge’s software automates all the clerical work of a visit, from notes to billing, and increasingly assists with making clinical recommendations, too. Valued at $5.3 billion, Abridge serves more than 300 health systems, reaching 250 million Americans, and recently partnered with Eli Lilly and Nvidia.
But Abridge has faced an uphill journey from day one, when Rao convinced his former employer to take a chance on a fledgling startup. Microsoft’s a big player. Epic Systems looms, and a number of well-funded startups are chasing Abridge’s lead.
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.
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
For more, visit https://www.upstartsmedia.com/
Season 2 of the Upstarts Podcast is presented by Rippling
Produced & edited by Eric Johnson from LightningPod