Assort Health raises $222M to build agentic AI platform for the full patient journey

is the all-in-one intelligent cloud provider. Use your favorite agents to deploy web apps, servers, databases, and more while Railway automatically takes care of scaling, monitoring, and security. Our next guests are from Assort Health. We have the co-founders and co-CEOs. Coco Alert. How you guys doing? Welcome to the show.

Hey,

introduce yourself for everyone. Love the cowboy hats.

Jackson, can you grab mine?

Yeah, we got to get some cowboy hats.

Get as many as we need. Maybe get John the bear mask. I don't need that bear mask. I'm not a bear.

We We love that you're in J andJ as well. We always We were our slide tack is at JJ. You guys tell us about the company. Tell us about the round. I want to hit the gong. Tell us what's going on.

Sweet. Yeah. So, uh we're John and Jacko CEOs uh of Assort Health. Uh we are an agentic platform for the entire patient journey for provider groups. So, healthcare providers. We do everything from work call center automation, voice AI to handling facts and document processing, patient intake forms, um, care gap activation and payment collection. So,

we have a bunch more questions, but tell us how much you raised. We got to hit the gong together. Double gong for no together.

Together.

Together. Tell us how much you raised.

$222 million total. millions of patients in the next few years. So, we're super excited about that. That's that's a signal.

Thank you.

Uh, wait, when did you guys start the company?

2023.

2023. All right. Not bad. Just a couple hundred million of value creation annually.

I like it.

Yeah. Take us through t take us through the actual uh the customer journey. Who's buying? How do you interface with both the doctors, the the patients, the hospital networks, and the insurers? like healthcare is like famously a sevenparty negotiation for everything, but how do you how do you actually sell to and how do you flow through?

Yeah, I'll let Jeff answer that.

Yeah.

Yeah. In terms of how we actually approach these provider groups, it's it's I think when we first started the business, it was actually educating the market on voice AI agents. Like when we first started, it might have been too early, right? It was no one else was really thinking about this in early 2023. And I think the landscape has now completely evolved where all of our customers and partners, they know voice AI agents really well. They understand like they have this burning need then they're really eager to adopt, right? I think the big difference for us now is um we're really overarching as John mentioned a gentic platform for every part of the patient care navigation journey. That's really our huge you know durability and differentiator. It's like you've all experienced this having to tell your story over and over over and over again with the health care system like why I didn't remember that like the patient like you feel invisible as a patient right

so really with our assort synapse model which is now powered by over 190 million patient facing interactions super proprietary data that our agents are generating to feed back into our product and agents to make the next interaction more concierge and personalized um and then also the fact that every product talks to each other right if you engage with our voice AI agent inbound and you book your your appointment through us. When we send you those patient intake forms for consent and everything, it's going to be 70% prefilled. And it may also recognize like, hey, you know, John is eligible for colonoscopy colonos colurectal screening. Let's get them through that, right? And that's intend to take care of your health, right? So, like got to be really preventative with these things. Uh, and then also be like, you know, instead of getting a paper bill, it's going to surface that payment right there to be like, you have this outstanding bill, right? And then let's say on that first inbound call, you're like, you know, you we'll remember that you prefer Monday mornings. We'll remember what type of voice you like, what tone you like. For us, it might not be, you know, we won't the next call with the agent. It's not going to repeat itself over and over again. For more elderly patient, it is going to proactively repeat their Medicare number back to them to address how to get there. So this level of personalization per patient and really the kind of durability that we build across all of our products talking each to each other where it's like I'm never going to turn off iPhone because I have iMessage, right? Talk, you know, that's what we really want to build with patient journey memory uh to really uh create the best experience possible for our patients in our in our practice.

What what uh what flipped in the procurement process over the last few years? cuz I mean if if we were doing this show and you're building in healthcare, you know, 5 years ago, you guys would be doing this round after like 12 years or something like that and you probably have less revenue. You know, it just it just was always like every healthcare founder would be like it's an insane slog.

Uh and now that's clearly flipped because you guys are growing super quickly. A bunch of other founders have been been on the show saying that there's like such insane pull. It's just the magic of of AI and and it's real. Are there any other factors at play? How do you guys see it?

Yeah, it's really interesting. I'd say there's like two components of market and then of course our unique approach. Um in terms of the market, um if you talk to any of these provider groups, it's really it's challenging, more challenging than ever to run a business in healthcare, right? You're seeing revenue actually go down every year from reimbursement from insurance costs are going up because the cost of working with payers, the cost of administrating healthare, it's literally going up 20% year-over-year, right? So, they're in this one of the hardest businesses. Every single admin labor person they hire typically has a 40 to 50% turnover rate on average, right? Per per year. So, they're just in this really tough position as a business and as a market. Um and in the past 10 12 years if if you talk to any of these provider groups CEOs they have not really seen any change to their technology stack it's been pretty static. A lot of existing partners have not really innovated in the space because there hasn't really been much appetite or hunger for like AI right historically. And so with this technology you know it's really mind-blowing. We work with like groups across the entire country, over 200 customers, and like we'll fly out to like rural parts of Idaho.

Thunder,

and they will literally like hear our demo and be like, "This is mind-blowing. Like, this technology is going to change and transform my practice. Patients will no longer have to be in a hold for 30 minutes, right? They can actually finally get access to care. You know, elementary school teachers working from 8:00 a.m. to 5:00 p.m. can actually like get access to care after after their work, right? So stuff like that really heartwarming to hear.

So yeah, that's been a really inflection point in the market.

Sure.

Awesome.

Congratulations on the round. Thank you so much for coming on the show.

You guys wear the cowboy hats normally or just for fun?

We wear to our board meetings, all customer events. Uh we just had a huge customer event in Soma last week. We we we went all out. So I love it. It's the Asian cowboy. It's very memorable. You know, you got to

It is. It is. You got to be being quirky. It's your edge.

Yeah, it's your

love it. Well,

gentlemen, cheers. It's been an honor.

How are you?