These 29-Year-Olds’ AI Chatbot For Scheduling Doctor Visits Is Now Worth $1.2 Billion
Assort Health has reached a $1.2 billion valuation following a $120 million funding round led by Menlo Ventures to expand its AI-driven medical scheduling technology. The San Francisco-based startup uses voice chatbots to automate appointment setting for 15,000 physicians, reducing patient hold times by 75%, according to company data.
Why is AI scheduling changing medical practice management?
Scheduling is “one of the most broken parts of healthcare today,” according to co-CEO Jon Wang. Patients often forgo care because they cannot reach offices, while physician groups struggle with patients routed to the wrong providers or missing paperwork.
Assort Health addresses this by using an AI agent to search physician calendars and match openings with specific appointment requirements. The system has handled 190 million patient interactions to date, with only 5% of callers hanging up on the voice agents, the company reports.
How does the AI handle complex medical specialties?
The technology manages complex scheduling rules that Menlo Ventures partner JP Sanday says often exist only in “printed binders” or in staff members’ heads. Assort initially targeted orthopedics due to the strict rules surrounding specialized providers, such as the distinction between hand surgeons and sports medicine doctors.
The company has since expanded into 22 other specialties, including urology and dermatology. Its client base now includes John Muir Health, a system with more than 1,000 primary care and specialty physicians operating two large medical centers in California.
What results are physicians seeing from AI automation?
Dr. Parinita Amin, CEO of MDCS Dermatology, reported that appointments increased by more than 20% after implementing Assort’s technology. Amin, whose practice manages 33 providers and 120,000 annual visits, stated the AI captured patients who previously dropped off when they could not reach the office over weekends.
Forbes estimates the company’s annualized revenue is now above $30 million. Co-CEO Jon Wang stated that revenue has increased 20-fold over the last 15 months.
What may happen next for Assort Health?
The company is allocating $70 million of its recent funding to develop technology that remembers patients across different tasks. This system, which co-CEO Jeff Liu says is planned for a third-quarter launch, could eliminate the need for patients to repeat medical histories during callbacks or billing inquiries.
Assort Health may face increasing pressure from competitors like Andreessen Horowitz-backed EliseAI, which holds a $2.2 billion valuation. Wang suggests that a wave of new entrants signifies a real market, which could eventually lead to the obsolescence of the landline in healthcare.
Frequently Asked Questions
What is Assort Health’s current valuation?
The company is valued at $1.2 billion, an increase of more than 70% from its $700 million valuation in September.
How many physicians currently use Assort Health?
Approximately 15,000 physicians have rolled out the AI voice chatbot.
Who are the co-founders of Assort Health?
The company was started in 2023 by Jeff Liu and Jon Wang.
Do you think AI voice agents will eventually replace human receptionists in all medical offices?