🦄 Unicorner Startup of the Week: Elaborate
✍️ Notes From The Editors
Today, we’re excited to announce the public launch of Unicorner Talent.
Over the past two months, we’ve been working to connect people in our audience with some of the amazing companies in our network. Given the unprecedented amount of people who have expressed interest, we’ve partnered with Pallet to bring promising early-stage companies and their job opportunities directly to you.
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Simplifying lab results
Elaborate makes it easy for patients to better understand their lab results. Its platform gives in-depth descriptions of lab results and allows doctors to directly add clarifying comments, avoiding unnecessary back-and-forth. Results and comments can automatically be pulled from an existing electronic medical record system using one of Elaborate’s 65+ integrations. Should an appointment be needed following the results, Elaborate automates the scheduling process, saving physicians and patients time.
🔗 Check it out: elaborate.com
💰 Business Model
Elaborate operates on a SaaS model. Its customers are medical practices, who pay a monthly fee to receive their services.
📈 Traction and Fundraising
  • Raised $10 million seed from Tusk Venture Partners, Founder Collective, Company Ventures, Bling Ventures, Arkitekt Ventures, and angels Elliot Cohen (Pillpack, Amazon), Sara Wajnberg (Oscar), Scott Belsky (Behance, Adobe), and Sean and Peter Glass, MD (Advantia)
  • Over 500,000 patients covered to date via current providers, with plans to expand to two million by the end of this year
👫 Founders
Nicole Bocskocsky, CEO
Elaborate CEO Nicole Bocskocsky leads the company with a decade of experience in healthcare executive functions. Upon graduating from Harvard with a degree in Government, she ultimately found her way to Oliver Wyman working as a consultant with cases on health insurance and medicare being a part of her responsibilities. She spearheaded care delivery operations at Oscar Health, worked at Parsley Health as VP of Operations, and founded Elaborate in 2021.
💼 Opportunities
🔮 Our Analysis
Picture the following scenario: you’ve just received your lab results after your doctor requested a few tests. There are a lot of numbers you’re looking at, along with some “healthy” ranges, and perhaps a few vague notes that each report is equipped with by default. Chances are you’ll be calling your doctor’s office soon to find a time to discuss what your results really mean. Maybe you don’t have time for an appointment, and you instead send a few emails to get the clarification you need. The whole situation can be especially time-consuming for physicians that might have to process dozens of lab reports each week.
Enter Elaborate. As the name alludes, its product makes it easy to elaborate on results right in the report so doctors can avoid unnecessary follow-ups. A combination of graphics, intuitive charts, and easy-to-understand explanations makes results sent from Elaborate more straightforward than normal lab results. The product directly integrates into most popular health record systems, meaning doctors don’t need to use another platform login to leverage Elaborate. The effects are apparent: according to the team, Elaborate saves doctors around three hours of administrative work. With all that in mind, given its recent seed round, the startup’s journey has only begun. Per CEO Nicole Bocskocsky, the company’s newly obtained funding will go toward expanding its integrations with electronic medical record systems like Epic, as well as further streamlining its offerings into the daily workflow of physicians.
📚 Further Reading
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💰 Bonus Content
As big tech companies continue to spar over the domination of artificial intelligence in the search and chat space, voice-replicating AI has received less attention despite its powerful and concerning implications. AI company Eleven Labs has been at the forefront of controversy after trolls began using its product to make flawless replications of celebrity voices. VALL-E, Microsoft’s AI speech synthesizer, can use only a three-second clip of source audio to replicate a speaker’s voice.
The future looks exciting and scary!
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