Freed, a health-tech startup dedicated to revolutionizing clinical documentation with artificial intelligence, has successfully raised $30 million in funding, led by Sequoia Capital. This funding isn’t just a financial boost; it’s a vital step in addressing widespread burnout among healthcare professionals.
Simplifying Clinical Documentation
Clinicians can access Freed’s innovative AI scribing technology for a monthly fee of $99. As of late February, approximately 17,000 clinicians globally have adopted the service, facilitating around 2 million patient interactions monthly.
A Personal Mission
Erez Druk, the co-founder and CEO of Freed, was inspired to create this solution through personal experiences. His wife, Dr. Gabi Meckler, a clinician in northern California, frequently found herself overwhelmed with documentation responsibilities in her community clinic. Druk’s journey began when he asked her, “What would make your work easier?” The answer was straightforward: automate the documentation process.
Previously, Druk worked as a software engineer at Facebook and later launched UrbanLeap. Following the closure of UrbanLeap in 2022, he partnered with Andrey Bannikov, also a former Facebook employee, to form Freed.
Innovative Features and Future Development
Freed’s AI solution automates the note-taking process by transcribing clinician-patient interactions in real time, allowing healthcare providers to focus more on their patients and less on paperwork. The startup recently announced enhancements such as customizable note formats, pre-charting capabilities, and templates tailored to specific medical specialties. Plans include automating coding and billing functionalities as well.
Research from Google Cloud reveals that clinicians spend nearly nine hours each week on documentation-related tasks, contributing significantly to job-related stress. A relevant study highlighted that 64% of physicians experience burnout due to excessive administrative duties, underscoring the urgent need for efficient documentation solutions.
Gaining Traction in a Competitive Market
As the AI scribing market gains momentum, Freed faces competition from notable tech firms like Microsoft and emerging startups such as Abridge and Suki. Josephine Chen, a Sequoia partner, notes the growing recognition of this issue, emphasizing Freed’s unique focus on smaller, independent practices which sets it apart in a crowded marketplace.
Nurse practitioner Natalie Desseyn attributes her ability to manage a caseload of 250 patients to Freed’s tool, which she has been using for two years. Her experience reflects the transformative impact of this technology, stating, “Without it, I wouldn’t be able to maintain my patient volume.”
Dr. Gabi Meckler shares similar sentiments, describing the relief Freed brings her practice. Previously, she devoted half her working day to note-taking, a process now reduced to a fraction of that time thanks to Freed.
Looking Ahead
Druk and his 50-person team are focused on expanding Freed’s product offerings while building a platform that meets the needs of clinicians like Meckler. Druk expresses a deep commitment to this mission, stating, “This is the most fulfilling and probably the most important work I’ll ever do.”
As Freed continues to innovate and adapt, it aims to play a key role in alleviating the administrative burdens faced by healthcare providers, thereby improving overall patient care and clinician well-being.
