Elevator Pitch: Wisedocs indexes and sorts medical records using machine learning for insurance carriers, healthcare providers, laws firms, and TPAs. We serve the auto, liability, disability, and workers’ compensation markets. Wisedocs provides an easy-to-integrate solution for improved accuracy and speed to deliver improved outcomes in the medical claims process.
What makes you unique or innovative? Wisedocs tenure and experience in this space makes us an industry leader. Our mission is to erase the headache of manually analyzing medical records to create a more positive experience for insurance companies, legal firms, healthcare providers, and their claimants. Our clients stick with us and grow with us because of the actual product, turnaround time, accuracy and customer service. Wisedocs is an experienced company that focuses on delivering great customer outcomes. Instead of just packaging technology we spend a great deal of effort understanding client needs and making sure our solution provides targeted and measurable value.
What problem do you solve? The medical claims industry is broken, and this extensive process is completely manual and results in a significant backlog. This backlog causes a ripple effect with all those involved: a frustrating process for insurers, doctors, case managers and the individual. Manually sorting, organizing, removing duplicates, and summarizing information from medical records is a very admin heavy and tedious task, which can be done in a fraction of the time by Wisedocs. Wisedocs erases the headache of manually analyzing medical records to create a more positive experience for insurance companies, legal firms, healthcare providers, and their claimants. Our document processing platform features enable insurance companies, independent medical evaluation firms, and legal entities to process claims with more speed, accuracy, and efficiency.
Your competitors? Digital Owl, Ontellus, Clara Analytics
Demo video: N/A.
Founded: 7/1/2018, Toronto, ON
Target customer. Any size law firm can use our services. Thus, we specifically target types of law firms which commonly deal with medical records; medical malpractice, personal injury, workers compensation, mass tort, social security, and disability.
Expected 2022/2023 gross revenue? N/A.
Number of users/paying customers? N/A.
Traction to date. N/A.
Plan for growth over next five years. Our founder and CEO started Wisedocs because he fundamentally believed there is a better, faster way of working with medical records that benefits claimants, their lawyers and insurance carriers. Over the next 5 years, the plan for growing Wisedocs is focused on the expansion of new product offerings to best serve our current and future customer base. Our strategy is to use a combination of best-in-class AI technology combined with our own proprietary technology to launch and grow and serve the legal and claims markets. In Q1 2023, we’ll be launching a new product offering “Medical Insights” that will provide our law firm customers the capabilities to quickly find and analyze specific data points within the medical record. Throughout next year and beyond we intend to continue developing products to service this industry.
Outside funding. $1M – $5M in outside funding.
Describe any ways in which your company is diverse or promotes diversity. Our current diversity program is under development to be completed in 2023 to ensure we continue to scale our team and strengthen our diversity program. Having a diverse team from top down has allowed us to contribute various ideas that come from our unique experiences – many of us have had experience in the claims and/or legal space through work or personal experiences. It’s important that our product reflects the inclusion and diversity we have on the Wisedocs team. We are also extremely proud to have a diverse team of employees. Those stats include:
- 55% Female workforce
- 75% Employees from a Diverse Background
- 40% of Leadership from a Diverse Background
- 40% of Senior Leadership team are Female.
Wisedocs is also a Veteran-founded and owned company.